Lithium Australia Enters Exclusive Battery Recycling Partnership with Infinitev

2 min read | October 10, 2024 04:55 AM PDT | By Team Kalkine Media

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Lithium Australia Enters Exclusive Battery Recycling Partnership with Infinitev — Image source: Shutterstock

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Highlights:

Lithium Australia Ltd has entered into a three-year exclusive agreement with Infinitev Australia to recycle lithium and nickel-based batteries.
The partnership aims to enhance Lithium Australia’s battery supply chain and promote a circular economy by reducing battery waste.
The agreement includes a service fee for battery collection and recycling, along with a revenue-sharing model from the sale of Mixed Metal Dust (MMD) and Nickel Metal Hydride batteries.

Lithium Australia Ltd {OTC:LMMFF} has announced a significant development in the battery recycling sector through a three-year exclusive agreement between its subsidiary, Envirostream Australia, and Infinitev Australia, a company specializing in repurposed electric vehicle (EV) batteries. This collaboration focuses on the recycling of lithium and nickel-based batteries owned by Infinitev, which is expected to enhance Lithium Australia’s battery supply chain and promote sustainability in the industry.

Under the terms of the agreement, Infinitev will not only utilize Lithium Australia’s recycling services but will also recommend these services to its customer base. This initiative aims to expand Lithium Australia’s reach within the growing battery recycling market. The partnership includes a service fee for collecting and recycling the batteries, as well as a revenue-sharing arrangement derived from the sale of Mixed Metal Dust (MMD) and Nickel Metal Hydride batteries produced during the recycling process.

CEO Simon Linge emphasized the importance of this partnership in building a circular economy, aiming to reduce battery waste and minimize the environmental impact associated with battery disposal. By recycling batteries, the company contributes to more sustainable practices in the energy storage sector.

Additionally, Lithium Australia remains committed to securing further contracts with other manufacturers in the electric vehicle and Energy Storage System (ESS) sectors. The strategy for 2024 focuses on expanding the commercial recycling model, with aspirations to achieve cash operating profits into fiscal year 2025. This proactive approach positions Lithium Australia as a key player in the transition towards sustainable energy solutions and responsible battery management.

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