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Iondrive Limited (ASX:ION)

ALERT: Price-sensitive ASX Announcement for ION
Current share price for ION : $0.029 -0.028 (-49.12%)+
Announcement
Release
24 Oct 2025 8:28AM
Price at Release
$0.057
Full Release
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Summary
Iondrive Limited announced its participation as a core technology partner in a European battery recycling consortium led by PEM RWTH Aachen University. The consortium, funded by a €2,068,000 grant from the Government of North Rhine-Westphalia and additional contributions from participants totaling €1,069,000, aims to establish a sustainable battery recycling industry in Germany. Iondrive's role focuses on processing black mass into high-purity battery-grade metals using its DES technology, which will then be used for manufacturing new batteries. The consortium, which includes notable members such as Accurec Recycling GmbH, NEUMAN & ESSER Process Technology GmbH, and Constantia Patz GmbH, will engage with European automotive OEMs for validation and potential commercial partnerships. The initiative is expected to enhance Iondrive's market position in Europe and provide significant funding and resources for its pilot plant operations, with plans to move and optimize the plant in Germany.
Key Points
  • Iondrive Limited joined a European battery recycling consortium.
  • The consortium is led by PEM RWTH Aachen University.
  • Funded by a €2,068,000 grant from the NRW government.
  • Iondrive focuses on processing black mass into high-purity metals using DES technology.
  • European automotive OEMs to validate and partner for commercial opportunities.
  • Consortium aims to establish a sustainable battery recycling industry in Germany.
  • Iondrive's pilot plant initially constructed in Australia, then shipped to Germany.
  • Consortium includes Accurec Recycling GmbH, NEUMAN & ESSER, and Constantia Patz.
  • Total funding for consortium activities amounts to €3,137,000.
  • Grant supports 60% of Iondrive's European pilot plant operating costs.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.