Livium’s (ASX:LIT) subsidiary Envirostream Australia has signed an exclusive recycling agreement with Xiamen Hithium Energy Storage Technology Co’s subsidiary Hithium Energy.
Under the agreement, Livium will exclusively recycle lithium-ion batteries supplied by Hithium to Lightsource bp’s Woolooga Solar Farm in Queensland. Lithium batteries may be recycled by Livium on a non-exclusive basis.
The agreement began on 1 January and will continue for three years, with an option term of two years.
Livium, which has a market capitalisation of $21.44 million, will receive a processing fee for discharging, dismantling, and processing Hithium batteries and a fee for supplementary services. These include battery transport services, condition assessments, and tailored services.
CEO Simon Linge says this agreement further shows Livium’s ability to partner with global lithium-ion battery manufacturers.
“The Woolooga Project is a great representation of the scope of renewable energy projects which are being developed nationally, and we see further scope for our recycling services for other projects,” Linge says.
Hithium provides 128 units of 5 megawatts per hour battery energy storage system containers to the Woolooga Project based on the company’s specialised prismatic 314 ampere-hour.
The project will bring benefits to the local area, including optimised grid management, load regulation, as well as continuity and stability of supply at times of high renewable variability.
Hithium President of Global Business Mizhi Zhang says the project represents a “significant” step in establishing a foundation for future energy storage initiatives in Australia.
“Sustainable disposal of our battery energy storage system products is key to our sustainability objectives, and we are delighted to partner with Livium, who have a proven track record of safe battery disposal,” Zhang says.
Hithium is a manufacturer of stationary energy storage products for utility scale, as well as commercial and industrial applications. The company is headquartered in China and also has locations in Shenzhen, Chongqing, Munich, Dubai, New York, California, and Dallas.
Livium, formerly known as Lithium Australia, is focused on enabling the global transition to sustainable lithium production.
Write to Aaliyah Rogan at Mining.com.au
Images: Livium & Hithium
