Battery Pollution Technologies Closes Capital Raising & Announces Progress Of Various Initiatives
Capital being directed to the advance and scale up of proprietary technologies in battery metals recovery from spent batteries, lithium battery fire mitigation products and the manufacture of battery storage systems from spent lithium batteries
SYDNEY, Aug. 30, 2023 /PRNewswire/ -- It has been a busy past few months for Australian battery recycling technology startup Battery Pollution Technologies.
Today the following positive advances are announced:
Pre Seed Capital Raising Closed
A heavily oversubscribed pre seed capital raising has been closed which has brought in a select number of senior industry executives as shareholders of the Company. The new shareholders bring relevant business networks to the Battery Pollution Technologies corporate mission – including with deep connections to heavy industry, the mining & infrastructure, energy transition and foreign markets – in particular Indonesia.
The capital is being dedicated directly to the advancing of the Company's proprietary technologies including in the areas of black mass separation & metals recovery, communications smart transportation units and fire event suppressants aimed at mitigating the impact and risk of Lithium Battery fires.
The work with the University of Newcastle continues to progress smoothly and satisfactorily in these areas with the suppressant and risk mitigation products now being developed under the X-Li™ brand – an acronym for extinguish Lithium and the cobalt/lithium/nickel/graphite recovery process under a proprietary approach which is referred to as LiRxR™ technology.
Scale up of senior resource has also commenced with a senior commercial role having been filled and to be announced in the next few days. No fees or other professional costs were incurred in executing the capital raising.
2nd Life Battery Brand Revealed
The Company's ambitions and strategy in the development of 2nd life battery storage systems from spent batteries continues to advance. This initiative will be developed under the Daintree Batteries™ brand family.
The Daintree Rainforest in North Queensland is an inspirational case study in nature's circular economy. All organic matter is efficiently recycled and repurposed. Daintree Batteries™ is driven not only to maximise the opportunity of spent lithium cell reuse, but also to incorporate recycled materials in the battery production process – in particular waste PET bottles and other plastic pollutants.
Company Name Evolved
We have also reflected on the progress of initiatives and the core mission of the Company. More than a standard recycling operation the focus remains on both the development of recycling sector technologies and the mechanical recycling process. To this end the Company's name has been slightly modified with the inclusion of the word Technologies.
Our mission on finding unique, commercially affordable technologies which minimises the impact of battery related pollution on the planet continues.
Association for the Battery Recycling Industry Appointment
The Company is also pleased to announce that its Founder & CEO, Nicholas Assef, has been appointed President of the Association for The Battery Recycling Industry.
To learn more on the Association visit: www.batteryrecycling.org.au
Daintree Life Support
Battery Pollution Technologies is also pleased to announce that it has signed on as a Silver Sponsor of the Daintree Life charitable initiative which is a boutique initiative aimed at replanting areas of the Daintree Rainforest.
Our Silver Sponsorship will mean that over 150 new trees will be planted in land within the wider Daintree Rainforest region in the first year of our support. All key staff and stakeholders of Battery Pollution Technologies have also signed on as individual members of Daintree Life – having a tree planted in each of their names as a result.
Daintree Life's mission statement reads:
Promoting positive outcomes in the heart of the Daintree Rainforest via education and a goal of planting 500,000 trees globally by 2030.
Whilst Battery Pollution Technologies is in its early stages of development it is still important that we align with charitable initiatives that are pure to our cause.
Daintree Life is a catalyst for the preservation of our precious rainforests and we would encourage the wider community to both learn more on their mission and to support their work. More can be learned at : www.daintreelife.com.au
Nicholas Assef, Battery Pollution Technologies Founder & CEO commented on the positive developments: "Things are progressing smoothly and quietly with the Company's operational focus on all initiatives remaining the highest priority. The potential for commercial success is incredible but we need to continue with our sense of urgency to deliver relevant cost-effective commercial technology".
Contact:
Public Relations
***@batterypollution.com
Photo(s):
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Press release distributed by PRLog
SOURCE Battery Pollution Technologies
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