Lithium Universe Ltd (ASX:LU7, OTC:LUVSF) delivered a milestone quarter with the acquisition of global rights to a novel solar panel recycling technology developed by Macquarie University and progress toward developing its Bécancour Lithium Refinery in Québec, Canada.
The patented Microwave Joule Heating Technology (MJHT) allows for selective heating and delamination of photovoltaic (PV) cells at room temperature — potentially unlocking higher recovery rates for critical minerals including silver, silicon, gallium and indium. With solar panel waste projected to reach up to 78 million tonnes globally by 2050, the technology targets a growing environmental and economic challenge.
Meanwhile, the company confirmed a Final Investment Decision (FID) on its Bécancour Refinery following a positive Definitive Feasibility Study (DFS), and continues to pursue funding and spodumene feedstock supply agreements.
“On the lithium front, we completed the positive lithium refinery DFS, and over the past quarter have leveraged that into a wide range of ongoing conversations with producers, offtake partners, and funding partners. Based on those discussions, I remain very confident in our counter-cyclical strategy and firmly believe that LU7 is well-positioned to benefit significantly when the lithium market rebounds,” executive chairman Iggy Tan said.
“While awaiting this recovery, we were also excited to seize the opportunity to acquire a cutting-edge solar panel recycling technology developed by Macquarie University. With a growing focus on the supply of critical minerals, the potential to unlock a new source of silver, silicon, gallium and indium to feed the high-tech industry has a lot of value and aligns well with Lithium Universe’s strategy of developing mineral processing technology and infrastructure for the circular economy.
“Waste management is also a growing concern globally. And with only 15% of panels currently being recycled, the need for effective PV recycling has never been greater. Microwave technology offers a promising solution to these challenges, enabling higher recovery rates and more sustainable recycling processes.
“We are looking forward to adding our chemical and industry experience to the mix and working with the Macquarie University team to commercialise this exciting technology.”
Highlights – June 2025 Quarter
- PV recycling breakthrough: LU7 secured global rights to Macquarie University’s MJHT solar panel recycling technology, addressing critical mineral recovery and circular economy opportunities.
- Strategic silver focus: Phase one of the recycling strategy targets silver, with an average solar panel containing around 20 grams, currently worth approximately A$36 per unit.
- Lithium refinery greenlight: The Bécancour Refinery project received FID following a strong DFS, with plans to produce up to 18,270 tonnes of battery-grade lithium carbonate per year.
- Cost-effective model: Forecasted pre-tax Net Present Value (NPV8%) of US$718 million and internal rate of return (IRR) of 21%, with operating costs of US$3,931 per tonne — competitive with China.
- Feedstock and funding progress: LU7 is in discussions with spodumene concentrate suppliers and exploring strategic partnerships to support refinery financing.
- Capital raising: A$1.7 million raised via placement to new and existing investors; management changes included the transition of Alex Hanly from CEO to Chief Development Officer.