Iondrive Limited (ASX: ION) has signed a collaboration agreement with the Chair of Production Engineering of E-Mobility Components of RWTH Aachen University (PEM) and PEM Motion GmbH (PEM Motion). This collaboration aims to advance sustainable battery recycling technologies by leveraging PEM’s extensive expertise in battery technology and recycling, along with Iondrive’s innovative Deep Eutectic Solvents (DES) Sustainable Battery Recycling process.
Iondrive CEO Dr Ebbe Dommisse commented, “This development is a major feather in the cap for an Australian technology company to be invited to participate in a European consortium of strategic industry partners to establish a battery recycling “value circle”. Partnering with PEM and PEM Motion, leaders in battery technology and recycling, greatly enhances our ability to navigate the commercialization pathway for our advanced recycling technologies. By forming a consortium, we are looking to strategically position to pool critical resources, expertise, and infrastructure, accelerating the development of commercially viable recycling solutions.”
Although the collaboration agreement is non-binding, it is considered a significant step as it formalizes a strategic industry partnership in the major target market of Europe. This partnership underscores the unique value proposition of Iondrive’s sustainable battery recycling process.
PEM is seeking to establish a consortium and secure the necessary funding to address challenges in complying with the new Batteries Regulation, part of the European Green Deal. This regulation includes targets for recycling efficiency, material recovery, and recycled content, which will be gradually introduced from 2025 onwards. The consortium is intended to comprise strategic partners from the entire battery recycling value chain, including automotive OEMs, to validate at scale the performance of battery cells made from recycled metals.
Over the next three months, PEM and Iondrive will prepare a detailed project plan and investment case for the establishment of a pilot plant based on Iondrive’s recycling technology. PEM and PEM Motion will leverage their extensive experience in developing consortia with prominent industry leaders to assist in the formation of the consortium and, in conjunction with Iondrive, secure the necessary funding.
“This collaborative approach is essential for engaging key industry partners, facilitating compliance with stringent European regulatory standards, and significantly boosting our appeal for investment from industry participants. Our alignment with PEM underscores our commitment to supporting Europe’s sustainability goals and marks a significant commercial milestone, establishing us as an early mover in the European market, while advancing innovative solutions within the circular economy.” Added Dr Dommisse.
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