Lithium processing technology group Lithium Australia (ASX: LIT) has increased its shareholding in lithium ion battery recycler Envirostream.
The Perth company said today it had paid $100,000 to move from a 23.9 per cent holding in Envirostream to a 73.7 percent interest.
Lithium has developed its own technologies for separation metals such as lithium, nickle and cobalt, and Envirostream is commissioning its expanded Melbourne facility to give it the capacity to recycle 3,000 tonnes a year of batteries.
Envirostream, generated revenue of $1.4 million in the past year selling recycled metals, including to customers in China.
Envirosteam with its capacity to collect, sort and separate the components of lithium ion batteries adds to Lithium Australia’s goal of establishing a circular supply chain from mining to battery manufacture and recycling.
Lithium Australia has already manufactured cathode materials and complete lithium ion batteries from spent battery material at its Brisbane pilot plant.
Lithium managing director Adrian Griffin said the company was providing an environmental solution for all Australian battery users.
Envirosteream could now concentrate on rolling out an Australia-wide battery collection network.
Picture: Lithium Australia
Subscribe to our free @AuManufacturing newsletter here.