Livium Ltd (ASX: LIT) (“Livium” or the “Company”) is pleased to announce that it has received firm commitments from new and existing institutional and sophisticated investors to raise $4.5 million (“Placing”) before expenses.
Highlights
- Received firm commitments of A$4.5 million from institutional and sophisticated investors to accelerate battery recycling, pursue renewable energy and PV recycling, and advance black mass processing
- Total investor demand exceeds 200% of final placement value after confirming Livium’s core focus on clean energy waste recycling 1
- Funds raised from the placement will support the expansion of battery collections and the relocation and consolidation of operations to a new, centralized processing hub
- The funds will also support key achievements to advance strategic recycling opportunities, including renewable energy and PV recycling, and black mass processing
- As Melbourne’s leading boutique, Peak Asset Management led the placement process
Livium CEO and Managing Director, Simon Linge, said:
“The strong support for this capital raise marks a significant turning point for Livium. Through disciplined execution, we have built Australia’s leading lithium-ion battery recycling business and are now ready to scale further to meet growing market demand.
The proceeds from this placement will accelerate our refined strategy aimed at recycling clean energy waste. The planned consolidation of operations into a single hub will increase capacity and efficiency in battery recycling while providing scope to expand into new verticals including rare earth element (REE) recycling, photovoltaic (PV) recycling and black mass processing – all pursued with a measured approach.
I would like to thank our investors and Peak for their continued support. Together, we aim to build Livium into a cash-generating, growth-oriented company that creates value across the clean energy waste supply chain and delivers sustainable returns for shareholders.
Use of Funds
Proceeds from the capital raise will be used to advance Livium’s recycling-focused growth strategy and strengthen its position as Australia’s leading recycler of lithium-ion batteries. Funding will support the large format expansion of LIB2 national collections, and the relocation and consolidation of Livium’s Victorian battery recycling facilities to a centralized processing facility (Hub).
Capital will also be used to drive key results within Livium’s strategic recycling areas – including rare earth metals (REE) and solar panel (PV) recycling, and black mass processing – to create additional value across the clean energy waste supply chain. The remaining funds will be used for general working capital to support operating results.
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