Lithium Universe (ASX:LU7) has finalised its acquisition of New Age Minerals, securing exclusive rights to a patented photovoltaic solar panel recycling technology developed in partnership with Macquarie University. The technology, known as Microwave Joule Heating Technology, utilises microwave energy to selectively heat silicon, softening the EVA encapsulant in solar panels. This process allows for easy delamination and the potential recovery of valuable materials at room temperature. Lithium Universe is focused on closing the lithium conversion gap in North America and revolutionising the photovoltaic (PV) solar panel recycling sector.
The terms of the acquisition, finalised in June, involved an initial payment of $33,900 and an annual payment of $20,000 in cash, commencing in 2027 and continuing until 2042. Additionally, upon achieving specific milestones, Lithium Universe will pay $100,000 to Macquarie University and issue $100,000 worth of shares. The International Energy Agency estimates that global waste PV modules will amount to 1.7 to 8 million tonnes cumulatively by 2030 and 60 to 78 million tonnes cumulatively by 2050. Australia is forecast to accumulate 1 million tonnes of solar panel waste by 2035, valued at over $1 billion.
Iggy Tan, Executive Chairman, stated that achieving this milestone enables closer collaboration with the Macquarie University team. The next phase will focus on developing a robust research program to enhance the Microwave Joule Heating Technology and unlock its full commercial potential. Currently, only 15% of used PV cells are recycled, with the remainder ending up in landfills.
Tan believes this collaboration will play a pivotal role in advancing sustainable recycling solutions and position Lithium Universe as a leader in critical metal recovery from end-of-life solar panels. Lithium Universe has a market capitalisation of $9.28 million.
