An advanced recycling solutionaddressing key battery supply-chain gaps in the clean energy transition.

Opportunity: Battery recycling needs a better answer

The clean energy transition is driving significantcompetition for critical minerals, making domestic supply and material securitya strategic priority. Recycling offers a pathway to localise supply chains,reduce import dependence, and enable more resilient battery production, particularlyif it can be delivered at lower cost. Yet the dominant recycling technology,acid-based hydrometallurgy, is capital-intensive, waste-heavy and economicallychallenging especially for lithium iron phosphate (LFP) batteries. LFPs nowrepresent ~40% of global EV battery capacity and are growing rapidly. Themarket’s core need is for a solution that can process all major battery lithiumchemistries efficiently, cleanly and at scale.

In addition, recycled battery materials can reducelifecycle emissions from cell manufacturing by ~30–50% compared to virginmining. Regulation is also emerging as a supportive tailwind, with Europemandating lithium recovery rates of 50% by 2027, rising to 80% by 2031, andother regions likely to follow. Lithium-ion battery recycling is a large andrapidly scaling market, expected to grow by approximately 20x between 2030 and2050, driven by exponential EV and battery storage development (IEA), Renewable Metals is positionedas one of the very few facilities capable of processing it domestically,economically and cleanly.

Solution: Alkali-based recycling, elegantly repurposed

The core approach behind Renewable Metals is simple and technicallycompelling: apply a proven process from base-metals mining to the challenge ofbattery recycling, delivering a step-change in performance and economics.

Unlike conventional acid-based plants, Renewable Metals’ alkali-basedprocess can recycle all major lithium battery chemistries on a singleprocessing line, and the company has ambitions to process whole battery packsand damaged units directly, avoiding a disassembly step that many recyclers currentlyrequire. This capability is not just operationally advantageous, it is a keydriver of cost efficiency, reducing the need for pre-processing and enabling abroader, lower-cost feedstock mix.

The process achieves over ~95% recovery of metals through aclosed-loop system and avoids the step of shredding batteries to black masswhere up to 15% of materials can get lost. In addition, Renewable Metals’ processeliminates sodium sulfate waste (a low-value by-product that adds disposalcosts).

At scale, the process is expected to deliver up to 50%lower costs than acid-based alternatives. Moreover, its modular, prefabricateddesign enables profitability at smaller throughputs, better aligned withtoday’s fragmented and supply-constrained feedstock environment. It can also beretrofitted into existing recycling plants, a timely advantage as underutilisedacid-based plants continue to accumulate globally.  The combination of lower capex and opex makesRenewable Metals’ technology particularly attractive.

Strong corporate validation

CTP also leveraged its network to engage with relevant corporatesand industry experts in Australia and internationally, helping inform itsbroader assessment of the opportunity and market landscape.

• A CTP corporate partner identified a direct commercial angle: the ability tosafely process damaged battery packs without complex disassembly couldmaterially reduce total loss rates and improve residual asset values, whilealso creating a natural feedstock sourcing channel.
• Other CTP corporate partners mentioned having, or having had to deal with, defective ordiscarded batteries that could be, or have been, relevant to Renewable Metals.
• AmpyrEnergy, targeting 6,000 MWh of operational battery storage across Australia by2030, has publicly announced a Battery Recycling Framework MOU with RenewableMetals, describing it as a clear and deliberate move toward supporting acircular pathway for battery materials, covering both interim volumes andend-of-life recycling.

Importantly, these relationships strengthen RenewableMetals' future feedstock position. As battery storage assets mature and EVvolumes grow, operators increasingly have to deal with end-of-life and damaged ordefective batteries. The capability for Renewable Metals to process whole packsacross all chemistries enables a streamlined one-stop-shop disposal solutionfor users.

Team and execution

Renewable Metals’ strength is equally reflected in thecalibre of its team. CEO Luan Atkinson brings strong analytical rigour, shapedby experience across top-tier consulting and fund management. Co-founder andCTO Mark Urbani contributes more than two decades of expertise inhydrometallurgy, the core discipline underpinning the company’s process.

The executive team is reinforced by Chair Peter Beaven,former CFO of BHP, adding deep operational and capital markets experience plus extensivenetworks. Collectively, the team has raised over A$32 million to deliver acommissioning-stage demonstration plant in Kewdale, Western Australia.

Why CTP invested and what comes next

Our investment decision was driven by Renewable Metal’s unique process.It’s ability to process mixed chemistries, including LFP, alongside whole anddamaged battery packs on a single processing line addresses a growing challengefor recyclers as battery streams become more diverse and operationally complex.Equally important, the compelling economics and technology retrofit potentialcreates multiple pathways for adoption. With the process now validated at pilotscale and a demonstration plant in commissioning, CTP has the strong convictionthat Renewable Metals has established the right technical and commercialfoundation to scale with credibility.

Post-investment, we are working with our corporate partner network tosupport Renewable Metals’ commercial pipeline and accelerate adoption as thecompany scales from its demonstration plant to its planned commercial HunterValley facility.

We are proud to back Luan, Mark and the team at this important stageof growth.