Envirostream Australia Pty Ltd. (Envirostream) has executed an agreement with LG Energy Solution (LGES) for the processing of a minimum of 250 tonnes (`t') of lithium-ion batteries (`LIBs'). 250t equates to over 5,000 energy storage systems. Under the terms of the Agreement, LGES will deliver the LIBs to Envirostream's facilities in Melbourne, Australia, for processing. Envirostream recycles more than 90% of a lithium-ion battery into its core components which includes steel, copper, aluminium and most significantly the critical battery metals which are amalgamated into a mixed metal dust (`MMD').

The recovered MMD allows the active metals to be repurposed into new lithium-ion batteries anode and cathode powders. The relationship between Envirostream and LGES commenced in 2018, with Envirostream recycling more than 85t of their batteries to date under previously executed agreements. The minimum 250t volume of LIBs will be processed under the new terms defined within the Agreement.

The signing of this Agreement enables Envirostream to receive additional LGES battery volumes and commence the safe recycling of these batteries with immediate effect.