$8M for Renewable Metals: Battery Recycling Gets Cleaner
- Renewable Metals, with its battery recycling technology, is set to revolutionise the lithium-ion battery recycling market and help Australia achieve its climate goals.
Renewable Metals, an Australian battery recycling start-up, has recently raised AUD $8 million from the Clean Energy Finance Corporation to scale up its battery recycling technology. The technology has the potential to extract over 95% of the lithium, as well as a high proportion of other components from lithium-ion batteries while avoiding the grinding process of 'black mass'. The company is planning to set up a pilot plant and expand it to a 1500 tonne plant by the end of the decade with the aim of reaching 15000 tonnes. The process is more energy efficient and chemcially less intensive as it uses an alkali-based leach instead of acid.
Lithium battery recycling is gaining momentum in India with firms such as Lohum and Attero claiming to deliver pharma-grade lithium from recycled batteries. The Clean Energy Finance Corporation, which has access to $30 billion from the Australian Government, is committed to decarbonisation initiatives like renewable energy, energy efficiency and alternative fuels. They are also focusing on transforming the energy grid, promoting sustainable housing and supporting climate tech innovators.
Can Renewable Metals Revolutionize Lithium Battery Recycling?
- Renewable Metals is hoping to achieve 95% extraction of lithium from lithium-ion batteries.
- The company is planning to set up a pilot plant and expand to a 1500 tonne plant by the end of the decade.
- The recycling process is more energy efficient and chemcially less intensive, using an alkali-based leach instead of acid.
- Lithium battery recycling is gaining momentum in India with firms such as Lohum and Attero delivering pharma-grade lithium from recycled batteries.
- The Clean Energy Finance Corporation is committed to decarbonisation initiatives such as renewable energy, energy efficiency, alternative fuels and transforming the energy grid.