Lithium Australia Limited’s (ASX: LIT) wholly owned subsidiary Envirostream Australia Pty Ltd – a leader in Australia’s battery recycling industry – has received its first cash rebate from B-cycle.
B-cycle is an industry led organisation accredited by the Australian Government. It is operating the nation’s official product stewardship scheme for EOL batteries.
Envirostream is accredited by B-cycle as a collector, sorter, and recycler of batteries and has worked closely with B-cycle to implement the necessary requirements for the Scheme. This initial rebate is validation of the extensive efforts made to date. The Scheme became operational on January 4, 2022 and provides rebates to accredited parties for eligible batteries collected, sorted, and recycled in Australia.
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.
Growing collection network
To increase the volumes of batteries for recycling, Envirostream has established partnerships with many reputable companies.
Envirostream together with its partners have quickly grown a national network of over 700 accredited B-cycle drop off locations with its partners supplying EOL batteries, and supplies services to other Scheme collectors to sort and recycle batteries.
Envirostream is actively growing the network of B-cycle drop off locations and partners and will keep the market informed as progress is made.
EV trials
Envirostream has established relationships with electric vehicle (EV) manufacturers in Australia seeking an EOL solution for their batteries. Battery volumes available for recycling are expected to significantly increase from EV’s over the balance of the decade. In preparation for this, work has commenced to ensure EV batteries can be efficiently dismantled and recycled.
Since the start of the year, Envirostream has undertaken trials for a number of EV manufacturers to recycle their cells and report back findings. The knowledge gained by Envirostream is important to ensure readiness for the expected increase in future EV volumes.
It is estimated that over 90% of lithium-ion batteries in Australia are currently disposed into landfill with the potential to pollute our land and waterways,” 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.”
