Lithium Australia starts JV, enters energy storage market

Lithium extraction company Lithium Australia NL has entered into a joint venture with China-based battery and energy storage company DLG Group.

According to the company, the principal activities of Lithium Australia NL consist of project acquisition, mineral exploration and process development, “primarily for the extraction and recovery of lithium with an aim to ensure an ethical and sustainable supply of energy metals to the battery industry by creating a circular battery economy while also enhancing energy security in the process”.

The joint venture, trading as Soluna Australia Pty Ltd, is 50% owned by each of the JV partners and has been incorporated for selling lithium-ion batteries and Soluna energy storage products into the rapidly expanding Australian renewables energy market.

“Formalisation of Lithium Australia’s joint venture with DLG … paves the way for the introduction of superior energy storage products into the Australian market, reducing the carbon footprint of national energy consumption for both residential and industrial consumers,” said Adrian Griffin, Managing Director, Lithium Australia.

Lithium Australia intends to create advanced components for the global battery industry, and for stationary energy storage systems within Australia using the chemicals generated from the conversion of lithium silicates and unused fines from spodumene processing to lithium chemicals.

Along with maintaining domestic stock levels of energy-storage products to meet demand and provide local sales and technical support, Soluna Australia plans to collaborate with customers and innovate to create energy-storage solutions suitable for remote-site and mining applications, as well as evaluate the feasibility of manufacturing battery packs in Australia as part of its supply-chain solutions.

Additionally, Soluna Australia would offer battery-recycling solutions through the battery recycling business unit of Lithium Australia.

Image: ©stock.adobe.com/au/malp