Lithium Universe Ltd (ASX:LU7, OTC:LUVSF) has completed the acquisition of 100% of New Age Minerals Pty Ltd, securing exclusive rights to a patented photovoltaic (PV) solar panel recycling technology developed in partnership with Macquarie University.
The acquisition is a significant step forward in the company’s strategy to become a leader in sustainable critical metal recovery.
New Age Minerals holds the exclusive licence to the Microwave Joule Heating Technology — a novel method for extracting valuable metals from end-of-life solar panels, with a focus on recovering silver, silicon, gallium and indium.
The acquisition was first announced on June 18, 2025, and aligns with Lithium Universe’s broader goal of tackling solar panel waste and contributing to a circular economy. The company’s recycling initiative complements its green lithium strategy, which includes development of a lithium carbonate refinery in Bécancour, Québec.
“We are pleased to have completed this important milestone, which now allows us to begin working more closely with the Macquarie University team," executive chairman Iggy Tan said.
"This next phase will focus on developing a robust research program to enhance the Microwave Joule Heating Technology and unlock its full commercial potential. We believe this collaboration will play a pivotal role in advancing sustainable recycling solutions and position Lithium Universe as a leader in critical metal recovery from end-of-life solar panels.”
Lithium Universe launches silver recovery initiative using solar panel recycling tech
The completion of the acquisition comes after LU7 started the first phase of its critical metals recovery strategy, targeting the extraction of silver from end-of-life photovoltaic (PV) solar panels.
Read more: Lithium Universe targets silver extraction in first phase of PV recycling program
The initiative is underpinned by a collaboration with Dr Binesh Puthen Veetti and his research team at Macquarie University, who have developed an innovative recovery method known as Microwave Joule Heating Technology (MJHT). Lithium Universe has now secured global rights to this proprietary technology.
MJHT facilitates the energy-efficient recovery of high-value metals from solar panel waste, offering a scalable solution to a growing environmental and supply chain challenge.
While silver is the immediate focus, the company notes that solar panels also contain other strategically important metals including silicon, gallium and indium — all essential to semiconductor manufacturing and the broader clean energy transition.