Lithium Australia NL (ASX:LIT) has reached a binding agreement to increase its stake in battery recycler Envirostream Australia Pty Ltd to 90%.
Envirostream is the only Australian company capable of recycling all energy metals from spent lithium-ion batteries and recently reported the first production of mixed metal dust (MMD) from its new battery recycling plant in Melbourne.
The first shipment of MMD containing cobalt, nickel, lithium and carbon from the plant is imminent.
Sales of scrap steel, copper and aluminium also recovered from the lithium-ion battery recycling process will begin from the plant next month.
LIT shares are up almost 6% to an intra-day high of 3.6 cents.
Mixed metal dust (MMD) production at the company’s new battery recycling plant in Melbourne
Sustainable battery use
Managing director Adrian Griffin said: “The battery industry needs to take ownership of the disposal consequences of lithium-ion batteries.
“Those batteries contain toxins that should never go to landfill.
“Lithium Australia, as a supplier of battery manufacturing technology, recognises the stewardship role required to mitigate the adverse consequences of battery consumption.
“By acquiring Envirostream and expanding its processing capacity we are developing an environmentally responsible framework for every Australian battery consumer.
“We encourage all Australians to join with us to create sustainable battery use with minimal environmental impact.”
Envirostream business model
Envirostream's ability to collect, sort, shred and separate all the components of spent LIBs, makes it an ideal fit with Lithium Australia’s critical battery metal processing expertise.
The Australian-owned battery processing facility, designed and built by the team at Envirostream, is based on international best practice.
Its ISO 14001-accredited modular processing technology has involved more than three years of research and development.
As an onshore mixed-battery recycling company, Envirostream offers safe, sustainable and innovative management solutions for what is emerging as one of the biggest challenges facing the domestic waste industry.
Envirostream, which has agreements with several retailers and manufacturers regarding the stewardship of spent batteries, is rolling out its collection network nationally with safe, reliable battery recycling units that are fully compliant with Australian standards.
The next step for Environstream is to provide every Australian with reasonable access to drop-off points for spent batteries, in order to avoid them being relegated to kerbside collections and landfill.