What is Renewable Metals and what funding did it receive?

Renewable Metals is an Australian battery recycling startup that received $8 million in seed funding from the CEFC, Virescent Ventures, Investible, and the Grantham Foundation for the Protection of the Environment. The funding will be used to scale and commercialise its lithium-ion battery recycling technology, including building a pilot plant in Perth and a larger demonstration facility capable of recycling up to 1,500 tonnes per year.

How does Renewable Metals' alkaline leaching process work?

Renewable Metals uses an alkaline leaching process that eliminates the need for pre-processing to black mass, simplifies extraction, and reduces costs by up to 30 percent compared to competitors. The process achieves metal recovery rates of greater than 95 percent at pilot scale, including for lithium, and can be applied to various battery chemistries including lithium ferro phosphate batteries.

What is the potential market size for Australian battery recycling?

According to CSIRO estimates cited in the announcement, Australia's battery recycling industry could help recover up to $3.1 billion of valuable battery materials and metals. This significant market opportunity is driving investment in companies like Renewable Metals that can scale sustainable recycling technologies.

CEFC, Virescent Ventures, Investible, and Grantham Foundation startup Renewable Metals in $8m round