Lithium Australia (ASX:LIT) advances journey in battery tech space in H1 - Kalkine Media

Highlights

• Lithium Australia (ASX:LIT) has emerged as a key technology partner in the battery manufacturing industry.
• Its cathode material developing subsidiary VSPC saw the completion of an engineering study for a lithium ferro phosphate (LFP) Pre-qualification Pilot Plant (PQPP) in H1.
• Envirostream, another 100% owned subsidiary, made major strides in end of life battery collection.
• Envirostream partnered with a new trading company to sell Mixed Metal Dust (MMD) to have a broader base of customers and amplify economic returns.

Lithium Australia (ASX:LIT) is a key technology partner in the battery manufacturing industry. The ASX-listed company, operating through its three divisions, is committed to scaling achievements in:

• building more sustainable sources of battery precursor materials
• enabling the manufacture of safer lithium-ion batteries at a lower cost
• improving efficiency and safety in the recycling of spent batteries

The half-year ended 31 December 2022 saw major developments at the company’s wholly owned subsidiaries, VSPC and Envirostream, as well as its Lithium Chemicals division.

Also, the company was reclassified on the Australian Securities Exchange as a “standard materials entity” from being a "mining exploration entity" during the first half of FY23.  The company has completed a placement of AU$12.1 million (before costs), and appointed Simon Linge as its Chief Executive Officer, effective from 1 January 2023. 

In this article, we have listed out all the crucial developments that marked the six-month period, leading Lithium Australia ahead on the path to success in the market. Have a read!  

LIT building sustainable future for the global battery industry via its business divisions:

VSPC: Advanced Cathode Powders

Image source: Company announcement

With over 20 years of experience, VSPC is developing cathode materials for next-gen lithium-ion batteries. Its LFP cathode powder features in e-mobility and energy storage applications.

During the last half year, an engineering study was completed for a lithium ferro phosphate (LFP) Pre-qualification Pilot Plant (PQPP) with Lycopodium used as lead engineer.

Also, the company escalated business development activities. This included visits to the Republic of Korea to build partnerships with potential joint development companies.

Envirostream: Battery Recycling

 
Image source: Company announcement

Envirostream is a part of Australia’s growing battery recycling industry, offering sustainable services for collection, sorting, and processing of end-of-life batteries of all types, to capture critical metals for re-use. It is the only entity in Australia that currently recycles lithium batteries.

The company reported collection of 628 tonnes of batteries during the half-year ended 31 December 2022 (half-year ended 31 December 2021: 488 tonnes).

LG Energy Solution committed at least 250 tonnes of Energy Storage System (“ESS”) lithium-ion batteries (“LIBs”) to Envirostream for recycling. Also, improvements to lithium-ion battery processing rates achieved following receipt of LG Energy Solution inventory.

The period saw the execution of an agreement between Envirostream and Battery World for the delivery of mixed batteries from the latter’s stores.

Envirostream has partnered with a new trading company to sell Mixed Metal Dust (MMD), to have a broader base of customers and amplifying economic returns.  

Lithium Chemicals: Technology and Innovation

Data source: LIT H1 report

The company has listed down potential technology partners with interest in the refining of fine or low-grade spodumene to make high-purity lithium chemicals using LieNA®.

Formal registration for the LieNA® CRC-P autoclave vessel was secured, enabling commissioning of the autoclave to commence. 

In essence, Lithium Australia continues to make major strides to strengthen its position in Australia’s burgeoning lithium sector.