Livium’s (ASX:LIT) wholly owned subsidiary Envirostream Australia has executed a new recycling agreement on a subcontractor basis with privately held Sell & Parker.
The new agreement, which is anticipated to be in excess of $5 million, has the potential to be Livium’s largest recycling contract with revenues over the next 12 months anticipated to total $3 million according to a statement provided by Livium.
Envirostream under the terms of the agreement will provide recycling services to Sell & Parker under a subcontract arrangement.
Sell & Parker will provide metal recycling services engaging Envirostream to safely dispose of materials containing embedded batteries through its facilities in Victoria.
Livium CEO Simon Linge says this agreement is important to deliver volumes whilst e-mobility and energy storage volumes grow year on year.
“Securing this contract demonstrates Sell & Parker’s confidence in our governance and safety standards,” Linge says.
“Livium’s recycling business will continue to build the pipeline of quality customers and channels to grow its top and bottom line as we scale operations nationally.”
Livium is focused on enabling the global transition to sustainable lithium production. The company operates a battery recycler, produces critical battery material lithium ferro phosphate and has developed a patented lithium extraction technology.
Sell & Parker is an Australian owned company that buys and sells ferrous and non-ferrous metals.
Write to Aaliyah Rogan at Mining.com.au
Images: Livium
