Can Iondrive’s DES Technology Break China’s Grip on Rare Earth Supply?
Iondrive Limited has secured a binding agreement with Colt Recycling LLC to test its innovative deep eutectic solvent technology for recovering rare earth elements from electronic waste, aiming to scale operations in North America.
- Binding agreement signed with Colt Recycling LLC for eWaste feedstock supply
- Evaluation of Iondrive’s proprietary deep eutectic solvent (DES) technology for rare earth element recovery
- Potential progression to commercial-scale deployment and supply agreement
- DES technology offers a sustainable, non-toxic, closed-loop alternative to traditional recycling
- Partnership positions Iondrive to enter the US market amid a $91 billion global eWaste opportunity
A Strategic Step into North American eWaste Recycling
Iondrive Limited (ASX, ION) has taken a significant stride towards commercialising its proprietary deep eutectic solvent (DES) technology by signing a binding agreement with Colt Recycling LLC, one of North America’s leading electronic waste processors. This partnership sets the stage for Iondrive to evaluate the recovery of rare earth elements (REEs) and other valuable metals from mixed eWaste streams supplied by Colt.
Colt Recycling processes approximately 40 million pounds of eWaste annually, making it a formidable partner for Iondrive’s ambitions to scale its technology in a market hungry for sustainable and efficient recycling solutions. The initial phase involves supplying up to 10 kilograms of mixed eWaste feedstock for Iondrive’s DES technology evaluation, with the potential to evolve into a commercial-scale operation and long-term supply agreement.
Unlocking Value from a Vast Untapped Resource
Electronic waste represents a global resource valued at around US$91 billion, yet only 22% is formally recycled. Printed circuit boards alone can contain up to US$36,000 worth of recoverable metals per tonne, including gold, copper, palladium, and critically, rare earth elements. These REEs are essential for modern technologies such as electric vehicles, wind turbines, advanced electronics, and defense systems.
Despite their importance, the majority of REEs embedded in eWaste are lost to landfill or inefficient smelting processes. Iondrive’s DES technology offers a low-cost, non-toxic, and closed-loop alternative to conventional pyrometallurgical and hydrometallurgical methods. Its selective extraction capability could revolutionize how these critical materials are recovered, reducing reliance on vulnerable global supply chains, particularly those dominated by China.
A Collaboration with Broader Implications
Both companies see this collaboration as more than a commercial opportunity. Iondrive’s CEO, Dr. Ebbe Dommisse, highlighted the potential to demonstrate capabilities that current recycling processes lack, positioning the company for a North American footprint. Colt Recycling’s CEO, Jim Maher, emphasized the strategic importance of recovering REEs to support industries from clean energy to national security, while enhancing operational sustainability.
The agreement also preserves Iondrive’s intellectual property rights over its DES technology and any innovations arising from the project, ensuring the company maintains control over its proprietary processes as it explores commercialisation pathways.
While the current agreement is focused on evaluation, the framework anticipates negotiations for a definitive supply agreement and possible co-location of DES units at Colt’s facilities, signaling a clear intent to scale if technical and commercial milestones are met.
Positioning for the Circular Economy
This partnership aligns with broader trends towards circular economy principles, where waste streams are transformed into valuable resources. With eWaste recycling rates globally lagging, innovations like Iondrive’s DES technology could unlock significant economic and environmental benefits, reducing waste and securing critical material supplies.
For investors and industry watchers, this deal marks a pivotal moment for Iondrive as it moves beyond battery recycling applications into the broader urban mining sector. The North American market, with its scale and infrastructure, offers a promising proving ground for the technology’s commercial viability.
Bottom Line?
Iondrive’s collaboration with Colt could redefine rare earth recovery from eWaste, but the path to commercial scale remains contingent on successful evaluations and negotiations.
Questions in the middle?
- Will Iondrive’s DES technology achieve efficient and cost-effective recovery of rare earth elements at scale?
- What are the timelines and commercial terms anticipated for the definitive supply agreement with Colt?
- How might this partnership influence the broader rare earth supply chain and recycling industry in North America?