01/07/2022 - 14:53

Lithium Australia hits milestone in battery recycling

01/07/2022 - 14:53

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Lithium Australia is celebrating a major milestone after its recently acquired battery recycling company Envirostream received its first rebate from the Commonwealth Government-backed B-cycle scheme. B-cycle is a national battery recycling plan that provides rebates across collection, sorting and processing points to create a responsible battery lifecycle by keeping batteries out of landfill.

Lithium Australia hits milestone in battery recycling
Lithium Australia says Envirostream and B-cycle are helping keep batteries out of landfill. Credit: File

Lithium Australia is celebrating a major milestone after its recently acquired battery recycling company Envirostream received its first rebate from the Commonwealth Government-backed B-cycle scheme.

The company says Envirostream is Australia’s only Environmental Protection Agency-permitted and licensed recycler of mixed and lithium-ion batteries.

B-cycle is a national battery recycling plan that provides rebates across collection, sorting and processing points to create a responsible battery lifecycle by keeping batteries out of landfill.

The scheme, designed by the Battery Stewardship Council, began in January this year. Lithium Australia says its first rebate validates the extensive work the parent company and Envirostream have done so far.

According to the CSIRO, Australia generates about 3000 tonnes of lithium-ion battery waste each year. Only 2 per cent of the waste is recycled and Australia’s leading scientific authority says the figure could grow to 100,000 tonnes by 2036.

Lithium Australia says Envirostream and B-cycle are helping create a responsible battery lifecycle by keeping batteries out of landfill where they can leak toxic materials into the environment.

Lithium Australia Chief Financial Officer, Stuart Tarrant said: “Fortunately, recycle rates are increasing, presenting a major opportunity for Envirostream to process these volumes in a safe and efficient way, recovering the critical minerals for repurposing into new lithium-ion batteries. It is hugely rewarding to receive the first rebate from B-cycle and we anticipate further revenues as we seek to capture the growing wave of spent batteries.”

The latest announcement caps a busy 12 months for Envirostream.

In April, Lithium Australia snapped up the final 10 per cent share of Envirostream, making it a wholly owned subsidiary.

In December, Envirostream was given the all-clear to open a second battery recycling plant in Laverton, Victoria.

In October last year, the Victorian Environmental Protection Agency granted Lithium Australia a 99-year operating licence that provides the environmental and legal framework for Envirostream to continue lithium and other battery recycling activities at its premises in Campbellfield, Victoria.

The licence permits Envirostream to process more than 500 tonnes of specified electronic waste annually.

Also in October, Envirostream signed a deal with Bunnings to collect spent batteries from all its Australian stores and selected stores in New Zealand.

Lithium Australia is making steady progress developing its10,000 tonne per annum lithium ferro phosphate, or “LFP” manufacturing plant in Queensland through its wholly owned nanotechnology subsidiary VSPC.

The subsidiary, that develops leading-edge materials for e-mobility and energy storage applications, owns a research and development centre and pilot plant in Brisbane.

VSPC says the completion of its LFP manufacturing facility would result in a significant increase in production capacity.

 

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au

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