Lithium Australia's (ASX:LIT) subsidiary, Envirostream Australia, signed a three-year exclusive battery recycling deal with Infinitev, a subsidiary of automotive aftermarket firm Amotiv (ASX:AOV), according to a Wednesday filing with the Australian bourse.
As per the deal, Envirostream will receive a service fee from batteries collected by Infinitev, with the companies sharing revenue from the sales of mixed metal dust and nickel metal hydride batteries to third parties, the filing said.
Shares of Lithium Australia jumped almost 5% in recent Wednesday trade, while Amotiv shares were up nearly 1%.
Price (AUD): $0.02, Change: $+0.001, Percent Change: +4.76%
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