How Iondrive’s Battery Recycling Pilot and EU Consortium Could Reshape the Market

Battery Recycling Pilot Plant Nears Construction Phase

Iondrive Limited is progressing steadily towards commercialising its Deep Eutectic Solvent (DES) technology, with the front-end engineering design (FEED) for its inaugural battery recycling pilot plant nearing completion. This facility will process black mass from end-of-life lithium-ion batteries to produce high-purity precursor cathode active materials (pCAM), essential for battery manufacturing. The pilot plant is expected to support validation by original equipment manufacturers (OEMs) and facilitate downstream qualification, marking a critical step towards scaling the technology.

European Consortium Formation and Grant Bid

Strategically expanding into Europe, Iondrive has established a consortium led by RWTH Aachen University’s PEM department, bringing together automotive OEMs, battery manufacturers, and recyclers. The consortium has submitted a €3.1 million grant application to the European Union, with Iondrive’s share amounting to €560,000 over three years. This initiative aims to align with EU Battery Regulation standards and demonstrate recycled battery cells matching virgin material performance. The grant decision is anticipated within three months, and the outcome will determine the consortium’s activation.

E-Waste Urban Mining Project Launch

Broadening its environmental footprint, Iondrive has commenced testing its DES technology on electronic waste, focusing on metal recovery from printed circuit boards (PCBs). Supported by a $100,000 grant from Green Industries SA and conducted at the University of Adelaide, this project targets valuable metals such as copper, gold, silver, palladium, and rare earth elements. Early-stage testing is underway, with the potential to establish a commercial-scale e-waste recycling facility and secure intellectual property rights in this emerging domain.

Technology Expansion and Graphite Recovery

In addition to battery and e-waste recycling, Iondrive is exploring applications of its DES platform to Mixed Hydroxide Precipitate (MHP), a key intermediate in nickel and cobalt supply chains. This could unlock new commercial avenues across mining and refining sectors. Post-quarter, the company initiated a CSIRO-funded project to upgrade recovered graphite into battery-grade anode material, potentially increasing revenue by approximately 25% and enhancing the circularity of the battery supply chain.

Financial Position and Corporate Developments

For the June quarter, Iondrive reported net cash outflows of $1.193 million, primarily driven by research and development expenditures. The company ended the period with a cash balance of $5.867 million, bolstered by ongoing grant applications totaling over A$12 million across Australia and Europe. Notably, Iondrive is negotiating the sale of its South Korean exploration business, which would reduce annual costs by around $600,000 and further focus resources on its core DES technology.