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Lithium Australia (LA) is to acquire a minority stake in lithium-ion battery (LIB) recycling company Envirostream, as part of its mission to “close the loop on the energy-metal cycle”.
The acquisition comes after LA started producing lithium-iron-phosphate battery cathode material from waste batteries at its re-commissioned pilot facility in Brisbane.
LA will invest a total of AUD600,000 (US$429,000) for 560 shares in Victoria-based Envirostream— currently representing 18.9% of the company’s issued capital.
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