An Australian-based startup has launched a ground-breaking, ESG technology project which aims to revolutionise supply chain transparency and carbon footprint verification in the fast-growing lithium battery recycling sector.
Loop Critical Minerals (Loop CM) – a joint venture between recycling technology company Battery Pollution Technologies and leading blockchain supply chain technologist Blockhead Technologies aims to set a new standard in accountability and environmental responsibility in the lithium battery recycling industry.
Lithium battery disposal is a growing challenge around the world with many batteries ending up in landfill where they cause complexities including the leaching of dangerous chemicals.
There has also been a spate of Electric Vehicle (EV) battery fires in Australia and internationally, including when cars are dumped, and smaller lithium batteries exploding while charging, causing major property damage. Those "thermal runaway incidents" are now extended to large scale battery storage systems.
Emergency services are grappling with how to manage lithium battery fires which can only be contained and not quickly extinguished.
With global efforts focused on combating climate change and creating a circular economy, Loop CM's technology is being designed to eliminate greenwashing and deliver a data-driven, objective assessment of a company's recycling processes.
It will effectively monitor the recycling process from battery end-of-life recovery and transportation to chemical engineering battery metals extraction processes.
Loop CM's technology is also being designed to:
- Assist companies meet increasing regulatory compliance, including in the transportation of spent battery cells and disposal verification.
- Monitor and manage the safety and hazard issues.
- Measure residual waste and how it is responsibly reprocessed or disposed of.
- Assess the use of energy in the recycling process as the world transitions to a zero net carbon footprint.
The Joint Venture will not only target Australia, but the large, established Northern Hemisphere markets.
The blockchain technology is an attractive sustainability solution for multiple players within the battery ecosystem including major battery producers, car manufacturers, financiers and regulators.
"We are excited to be working towards a transformative solution that empowers businesses in the lithium battery recycling sector to take meaningful steps towards transparency, sustainability and the journey to net zero impact," said Nicholas Assef, Founder and CEO of Battery Pollution Technologies.
"The Loop CM technology is aimed to provide visibility into the complex recycling supply chain which will also allow verification of a variety of data points that are specific to the lithium battery recycling industry, enabling companies to make environmentally conscious choices."
Blockhead Technologies Founder and Managing Director Greg Leach said: "We have already successfully developed and applied supply chain traceability and carbon footprint calculation technology in precious metals refining.
"We are pleased to be working with a visionary company such as Battery Pollution Technologies to create a unique technology solution for the end-of-life battery industry – which we believe will have global application."
