A successful capital raising has enabled Iondrive Ltd (ASX:ION) to accelerate a pre-feasibility study (PFS) for its exclusively licensed deep-eutectic solvent (DES) battery recycling technology with the final key activities about to begin.
The company’s patented technology is built around the use of Deep-eutectic solvents with the process developed from fundamental research from the University of Adelaide’s Materials Research Engineering Centre.
A DES is a mixture of two solvents that exhibit enhanced properties compared to their individual constituents and is usually prepared by mixing the two solvents with one being a Hydrogen Bond Acceptor (HBA) and the other a Hydrogen Bond Donor (HBD).
Large-scale bench trials
Iondrive has completed the first phase of its large-scale bench trials, at the University of Adelaide, with results indicating:
- the DES battery recycling process chemistry (metal recoveries) scales effectively with larger volumes.
- high selectivity on par with early trials was maintained; and
- solvent losses of less than 2% with the ability to re-use the solvent. As the largest input cost, this is critical for economic viability.
Results of the second phase of large-scale bench trials are expected to be announced by early July, following independent verification by Independent Metallurgical Operations (IMO) in Perth and this work will also generate process data for the pilot plant design.
Critical studies
To complete the PFS, the company will undertake several critical studies, including the Phase 2 tests, with this work being accelerated.
Iondrive has shortlisted highly credible organisations in the target markets of the EU, US and Australia, to undertake the final three PFS activities, comprising:
Iondrive CEO Dr Ebbe Dommisse said: “We are close to announcing three outstanding engineering and benchmarking partners from Australia, Germany and the US, to assist with the high-level engineering design and costing of our DES battery recycling process.
"The aim of this work is to understand and improve the technology’s economic competitiveness through benchmarking against industry standards.
"The successful large-scale bench trials at the University of Adelaide have provided excellent results that will feed directly into these upcoming engineering studies.”
PFS on track
The PFS, which aims to de-risk the commercialisation path, is on track for completion by October 2024, positioning Iondrive at the forefront of sustainable battery recycling efforts.
Before commencing the PFS, Iondrive engaged leading battery market consultant RhoMotion to undertake a study of the global battery recycling market in light of the company’s early mover advantage.
This study concluded that Iondrive’s DES process provides an attractive environmental value proposition in the rapidly growing battery recycling market as the DES process uses benign, biodegradable organic solvents without high temperatures or corrosive acids that are associated with incumbent processes.
The study noted that these environmental advantages and the focus on Li-ion batteries would be particularly attractive in the EU, the US and Australia.
Tangible interest
Discussions with potential collaboration partners in these target markets are generating tangible interest in Iondrive’s unique DES recycling process.
In particular, the EU’s new Batteries Regulation, part of the European Green Deal, creates strong market dynamics for the adoption of new environmentally sustainable recycling technology.
The regulation aims to improve the environmental performance of batteries throughout their lifecycle, including production, use and recycling.
Key elements of the regulation include targets for recycling efficiency, material recovery and recycled content, which will be gradually introduced from 2025 onwards, creating a real sense of urgency and call to action.
This regulation mandates that all collected waste batteries must be recycled (ban on landfilling), with high levels of recovery for critical raw materials such as cobalt, lithium, and nickel.
Supportive policies
The Critical Raw Materials Act (CRMA) supports these efforts by setting benchmarks for recycling at least 25% of the EU’s annual consumption of critical raw materials by 2030.
The CRMA serves as a major driver for advancing recycling initiatives and securing funding to achieve these goals. By adopting stricter targets for recycling, the regulations seek to minimise environmental impacts and reduce dependency on raw material imports.
Dommisse added: “The tailwinds of supportive government policies in the EU, US and Australia offer us an outstanding opportunity to push forward with our sustainable battery recycling technology.
"Both legislative and regulatory changes and government funding are enabling the acceleration of the commercialisation of ION’s technology.”