Livium Ltd (ASX: LIT) Signs Exclusive Battery Recycling Agreement with Wabtec
Battery Recycling Agreement
Livium Ltd (ASX: LIT) has entered into an exclusive recycling agreement with Wabtec Corporation to recycle lithium-based and nickel-based batteries. The batteries will be sourced from Wabtec’s FLXdrive Battery Locomotives operating in the Pilbara, Western Australia. The agreement starts on 1 January 2025 and spans an initial term of three years, with potential for extension. Livium will receive a processing fee for sorting and processing the batteries, alongside fees for additional services such as dismantling and transport.
Strategic Diversification
This agreement enhances Livium’s end-of-life battery sources, aligning with its strategy to secure exclusive recycling contracts. As more FLXdrive Battery Locomotives are introduced, volumes are expected to rise, providing a stable supply from the locomotive sector. This initiative reinforces Livium’s commitment to growth in the recycling industry and positions the company to win further contracts.
Executive Comments
Simon Linge, Livium’s Managing Director and CEO, stated, “We are excited to announce this Agreement with Wabtec Corporation, a market leader in the rail and mining sectors globally. This represents a significant milestone for Livium as it secures exclusive access to batteries from the locomotive industry, which diversifies our battery supply.”
Peter Thomas, Wabtec’s Regional Senior Vice President, added, “Livium’s expertise and track record supports Wabtec’s effort to drive responsible operations of our products and enables us to properly handle the afterlife batteries.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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