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Lithium Australia’s (ASX:LIT) subsidiary receives $185k grant
  • Lithium Australia's (LIT) subsidiary, VSPC, has received a grant of $185,000 from the Advanced Manufacturing Growth Centre
  • VSPC takes mine waste and recycled battery metals to produce lithium-ferro-phosphate (LFP) for resale
  • The funding will help to advance this process
  • The company Managing Director, Adrian Griffin, considers this a key step in LIT's mission as society can no longer afford to have a "single-use" mentality
  • Lithium Australia is down 1.52 per cent and trading at 6.5¢ apiece

Lithium Australia's (LIT) subsidiary, VSPC, has successfully received a co-funded grant of $185,000 from the Advanced Manufacturing Growth Centre (AMGC).

AMGC is a not-for-profit organisation established by the Australian Government to support the development of world-leading, advanced manufacturing in Australia.

VSPC takes mine waste or recycled battery metals and produces lithium-ferro-phosphate (LFP) for resale.

The grant is to advance the processes for utilising high-grade iron materials from mineral sources and importantly, for the recycling of lithium-ion batteries.

Lithium Australia says that raw materials make up more than half of the cost of producing lithium-ion batteries (LIB) cathode materials.

Having the technology to utilise low-cost raw materials and reuse them from battery recycling are important advantages for VSPC.

AMGC Managing Director Dr. Jens Goennemann says advanced manufacturing shows a significant opportunity for the Australian economy.

"AMGC is pleased to support VSPC as it moves to commercialise its groundbreaking lithium-cathode manufacturing process," Dr. Jens said.

"VSPC’s project addresses several global challenges, particularly how to conserve precious raw materials, deal with battery waste and reduce landfill, all while reducing cost," he added.

Lithium Australia will be a major partner in this project, through its Envirostream and Resource Conservation and Recycling Corporation, along with two others DLG Battery and The University of Queensland (UQ).

The first, LIB-cell manufacturer DLG battery will provide testing services to the project, while UQ will supply analytical and material characterisation services for the project.

Lithium Australia Managing Director, Adrian Griffin believes that society can no longer afford to tolerate the single-use mentality of past generations.

"VSPC’s initiative to advance the application of lower-cost raw materials is a
significant step forward for the battery industry," Adrian said.

"This is an opportunity to provide practical outcomes in advancing the circular economy, and I thank AMGC and our other partners for supporting this initiative, which will help conserve resources, reduce landfill and provide the opportunity
for a comprehensive stewardship scheme that promotes the responsible use of batteries," he added.

Lithium Australia is down 1.52 per cent on the market this morning, trading at 6.5¢ apiece at 12:02pm AEDT.


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