Perth-based lithium technology group Lithium Universe (ASX: LU7) is aiming to capitalise on an emerging waste crisis from discarded solar panels globally by securing the rights to a new sustainable recycling technology developed by Macquarie University.
The patented photovoltaic (PV) solar panel recycling technology, known as Microwave Joule Heating Technology, is described as a breakthrough for the sector which Lithium Universe executive chairman Iggy Tan says is critical for the energy transition.
“Nearly 37 per cent of Australian households have installed PV panels on their roofs and this generates around 13 per cent of electricity in Australia,” says Tan.
“The problem today is that only 15 per cent of solar cells are being recycled. The rest ends up in landfill.
“The mass accumulation of solar panel waste in landfills is a growing problem, as valuable critical metals like silver, silicon, gallium and indium are left behind, contributing to both resource depletion and environmental harm.”
Lithium Universe notes that nearly 78 million tonnes of solar waste will be accumulated by 2050. By 2035, Australia alone is expected to accumulate one million tonnes of end-of-life solar panels, with a total material value of more than $1 billion.
The company also highlights Smart Energy Council estimates that the silver contained inside solar modules in landfill globally is equivalent to Australia’s biggest silver mine.
“The reason for the low recycling rates is to do with the traditional recycling technology,” says Tan.
“In typical recycling there is a shredding or grinding of PV cells and to remove the EVA (ethylene-vinyl acetate) binder, high temperature furnaces and toxic acid chemicals are required to separate the EVA.
“Unfortunately, most of this silicon and silver can’t be recovered during this process and essentially ends up in landfills today.”
Tan says the potential for extracting some of these critical metals from discarded solar panels through this technology is “significant to Australia and the industry”.
Lithium Universe has secured the global rights to the Macquarie University recycling technology via the acquisition of holding company New Age Minerals Pty Ltd for an upfront payment of $33,900 and $20,000 a year until 2042. Macquarie University will receive an additional 3 per cent royalty on gross sales once the technology is commercialised.
The deal is a departure from Lithium Universe’s core activities which currently centre on development of the Bécancour lithium carbonate refinery project in Quebec, Canada.
“We believe that this (technology) will add value while we wait for the lithium market to recover,” says Tan, adding that the company has the chemical expertise to commercialise the technology.
The technology was developed by a team from Macquarie University’s School of Engineering, led by Dr Binesh Puthen Veettil, to meet the challenge of solar panels approaching the end of their 25 to 30-year lifespan.
“Essentially, instead of high temperature furnaces (the technology) uses microwave technology to selectively heat and laminate the PV cell,” says Tan.
“Then you can pull the silicon wafer away from the cell and potentially improve the recoveries of silicon, silver, gallium and indium.”
Silver and silicon are critical components in both solar and semiconductor technologies.
“We believe the technology is key to improving the recycling rates of these PV cells around the world,” says Tan.
Lithium Universe also plans to apply the new technology to the calcination and sulphation of spodumene at its Bécancour Lithium Refinery in Québec.
“The use of microwave conversion could reduce heating costs and lower the cost of materials used in construction,” says the company.
“Like lithium recovery from discarded batteries, this initiative aligns with LU7’s strategy of securing and commercialising critical materials essential for the clean energy transition.”
Shares in Lithium Universe closed 66.6 per cent higher at 1c, valuing the company at $5 million.
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