Livium raises $4.5 million to accelerate clean energy waste recycling efforts

Battery recycling technology company Livium has announced firm commitments to raise $4.5 million through a share placement, with funding to support efforts including expansion of its large-format lithium battery collections across Australia, and the relocation and consolidation of its Victorian battery-recycling facilities into a centralised site.

According to a statement from the ASX-listed company on Friday, the raise is through 360,000,000 new fully-paid ordinary shares at $0.0125 per share. It will also issue one option for every one share subscribed, exercisable at $0.02 and expiring on April 28 next year.

CEO and Managing Director Simon Linge said the company had grown the nation’s leading lithium-ion battery recycling operation and was poised to scale further with demand.

The proceeds will “accelerate our refined strategy, focused on recycling clean energy waste,” said Linge. 

“The planned consolidation of operations into a single Hub will increase capacity and efficiency in battery recycling while providing space to expand into new verticals including rare earth element (REE) recycling, photovoltaic (PV) recycling, and black mass processing — all pursued with a measured approach.” 

Livium’s businesses include VSPC, which was awarded a $30 million ARENA grant in February to help build a 250 tonne per annum demonstration plant for battery cathode powders, and battery recycler Envirostream, which is seeking to expand into processing black mass, solar panels and rare earth elements.

Livium recently announced a deal last month with recycling technology company Iondrive, exploring Iondrive’s Deep Eutectic Solvent (DES) process for reclaiming materials from end of life solar panels, lithium-ion battery black mass, rare earths and other samples for evaluation.

Picture: credit Livium

Further reading

Livium explores rare-earth element extraction to expand recycling portfolio

Livium secures expanded battery recycling deal with BYD Australia

New battery recycling subcontract deal expected to generate over $5 million for Livium

Livium to set up battery materials plant

ARENA grant fuels investor interest in Livium’s LFP battery technology

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