Foley & Lardner LLP served as legal advisor to Mitsubishi Corporation on its strategic partnership with Elemental Holding SA for platinum group metals (PGM) recycling.
As part of the strategic partnership, Mitsubishi will provide a trade finance working capital facility to help ramp up Elemental’s PGM smelter and refinery to full production. Mitsubishi will also make an equity investment in Elemental’s operating subsidiary in the United States.
The strategic partnership will combine Elemental’s and Mitsubishi’s expertise and resources in the collection and pre-processing of spent automotive catalytic converters and the smelting, refining, and marketing of refined PGMs. The organizations will work together to scale and grow Elemental’s global PGM recycling business.
The Foley deal team was led by partner David Sanders and included partners Von Bryant, Julie Lee, and Gary Rovner, senior counsel Erin Hoffert, and associates Chloe Hill and Judah Lieblich.
