Australian battery recycling startup Renewable Metals raises A$8M ($5.14M)

The Australian battery recycling startup Renewable Metals has received A$8M in seed funding from the Clean Energy Finance Corporation , Investible, Grantham Foundation for the Protection of the Environment, and a few other investors to scale and commercialise its lithium-ion battery recycling technology.

The company, with head quarters in Perth, Wester Australia is aiming to develop a pilot plant capable of processing of up to 1,500 tonnes of battery waste per year. The company has previously received funds for a feasibility study of a plant of 5,000 tonnes per year.

Renewable Metals uses an alkaline leaching process that eliminates the need to heat treat the, simplifies the extraction process, and reduces the cost by up to 30%compared to competitors without creating a secondary waste problem through the disposal of sodium sulfate.