Livium (ASX: LIT) subsidiary Envirostream Australia has secured an exclusive recycling agreement with Hithium Energy, a subsidiary of Xiamen Hithium Energy Storage Technology Co. The deal focuses on recycling lithium-ion batteries supplied by Hithium to Lightsource bp’s Woolooga Solar Farm in Queensland. While Livium will exclusively handle recycling for these specific batteries, it retains the right to recycle other lithium-ion batteries on a non-exclusive basis.
The agreement, which started on January 1, will last for three years with an option for a two-year extension. Under the terms of the deal, Livium will receive processing fees for discharging, dismantling, and processing the batteries, in addition to fees for supplementary services such as battery transport, condition assessments, and customized services.
Livium, with a market capitalization of $21.44 million, aims to leverage this agreement to strengthen its partnerships with global lithium-ion battery manufacturers, as noted by CEO Simon Linge.
Related topics:
- SK On Unveils All-Solid-State Battery Innovations
- Japanese Team Develops Safer Quasi-Solid-State Battery for EVs
- India Aims for Self-Sufficiency in Electric Vehicle Battery Supply Chain
