New York investment firm The Lind Partners is providing circa-A$1.6 million (US$1 million) of equity funding to ASX-listed battery recycler Livium, which is looking to expand in black mass processing and rare earth recovery via subsidiary Envirostream.
Livium said Lind would invest A$2.4 million under the “base terms” of a new flexible funding package and could provide up to $11.75 million. Livium has a current market capitalisation of about $16.7 million.
Proceeds from the initial share placement would go towards growing existing Envirostream battery recycling activity and progressing new opportunities such as a University of Melbourne licence for microwave-assisted rare earth element extraction.
“The funding provides additional runway as we focus on improving Envirostream’s operating performance, delivering near- term process efficiency initiatives and progressing selected recycling adjacencies,” Livium CEO Simon Linge said.
Lind managing director Jeff Easton said the firm was a long-term supporter of Livium that recognised early the “company’s first-mover position in Australian lithium-ion battery recycling”.
“We believe battery recycling represents a considerable growth opportunity in Australia and remain strong supporters of Livium’s recycling strategy,” he said.
Livium this week said it had entered into a one-year battery services agreement with China’s Sigenergy Technology Co, which was focused on AI-driven industry and consumer clean energy solutions including in Australia, Ireland and South Africa.
The deal gave Envirostream “priority consideration for battery recycling service opportunities in the Australian market with services to be provided under agreed purchase orders”.
An initial one-year agreement term might be extended for a year, Livium said.
