Livium (ASX:LIT) said that its unit, Envirostream Australia, signed an exclusive battery recycling agreement with UK-based provider of sustainable energy materials for residential and commercial markets ZECOEnergy, according to a Tuesday filing with the Australian bourse.
The agreement will see Livium provide exclusive recycling services for lithium-ion batteries used in energy storage systems supplied through ZECOEnergy's network, the filing said.
The deal has an initial five-year term and an optional three-year extension but does not have minimum volume commitments, the filing added.
Livium will receive processing fees for recycling, dismantling, discharging, and transporting the batteries, but it has yet to quantify the economic impact at this stage, the company added.
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