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Published: 21:20 24 Mar 2024 EDT
Lithium Australia Ltd (ASX:LIT, OTC:LMMFF) CEO and managing director Simon Linge joins Jonathan Jackson in the Proactive studio to discuss recent developments with Lithium Australia’s subsidiary, Envirostream, which has inked a three-year agreement with Hyundai Glovis to provide battery recycling services in Australia. Envirostream’s collaboration with Hyundai Glovis, a notable logistics entity under the Hyundai Motor Group, is set to bolster the collection volumes of large-format lithium-ion batteries. This partnership aligns with the rising demand for battery recycling services, spotlighting the expanding market opportunity in this sector. Lithium Australia’s growth strategy is evident in its systematic approach to securing recycling agreements with premier electric vehicle (EV) and energy storage system (ESS) manufacturers, aiming to ensure a consistent supply of lithium-ion batteries for recycling. The agreement with Hyundai Glovis marks a significant step, following a previous deal with LG Energy Solution, demonstrating LIT’s commitment to enhancing its position in the battery recycling industry.
