Lithium Universe Clears Legal Hurdle, Moves to Acquire Solar Recycling Tech Rights

Legal Due Diligence Milestone

Lithium Universe Limited (ASX, LU7) has announced the successful completion of legal due diligence for its acquisition of New Age Minerals Pty Ltd (NAM). This step clears a significant hurdle in the company’s plan to secure exclusive global rights to a patented photovoltaic (PV) solar panel recycling technology, known as Microwave Joule Heating Technology, developed by Macquarie University.

The due diligence process, a critical phase in any acquisition, was completed to the company’s absolute satisfaction, allowing Lithium Universe to move forward confidently towards finalising the transaction. Notably, a licensing agreement variation condition, initially required to reflect the change in ownership of NAM, has been waived to facilitate immediate completion, with formal documentation to follow.

Strategic Expansion into Solar Panel Recycling

This acquisition marks a strategic expansion for Lithium Universe beyond its core lithium refining operations. By acquiring NAM, the company gains access to a cutting-edge technology that promises to enhance sustainability in the renewable energy sector through efficient recycling of PV solar panels. This aligns well with global trends emphasizing circular economy principles and environmental responsibility.

The Microwave Joule Heating Technology offers a novel approach to recycling solar panels, potentially unlocking new revenue streams and reducing waste in the solar industry. For Lithium Universe, this complements its existing mission to close the lithium conversion gap in North America by developing a green lithium carbonate refinery in Québec, Canada, aimed at supporting electric vehicle battery supply chains.

Broader Implications for the Lithium Supply Chain

Lithium Universe’s acquisition reflects a broader strategic vision to integrate sustainability and innovation within the lithium and battery materials sector. With over 20 major battery manufacturers planning significant capacity expansions in North America, the company’s focus on green lithium production and now solar panel recycling positions it well to meet evolving market and regulatory demands.

Leadership under Executive Chairman Iggy Tan, a veteran in lithium project development, alongside technical experts like Dr. Jingyuan Liu, underscores the company’s capability to execute complex projects that bridge mining, refining, and now recycling technologies. This integrated approach could enhance Lithium Universe’s competitive edge as the industry moves toward more sustainable and circular supply chains.

Next Steps and Market Watch

With legal due diligence complete and acquisition conditions waived, Lithium Universe is set to finalize the purchase of NAM imminently. Investors and industry watchers will be keen to see how the company integrates this technology into its portfolio and the commercialisation pathway it adopts. The pending formalisation of the licensing agreement variation with Macquarie University will also be a key milestone to monitor.

Overall, this acquisition signals Lithium Universe’s ambition to diversify and strengthen its position in the evolving battery materials ecosystem, combining green lithium production with innovative recycling solutions.