IonDrive Ltd (ASX:ION) is making significant strides in the battery recycling industry, as confirmed by a recent study from Rho Motion. The study highlights a promising future for the sector, with an annual growth rate fueled by the increasing demand for minerals essential to electric vehicles. By 2030, the feedstock is expected to expand at a compound annual growth rate (CAGR) of 25%, reaching two million tonnes.
Ebbe Dommisse, CEO of IonDrive, shared his optimism about the company's trajectory, emphasizing the importance of their ongoing bench trials in Adelaide and Perth. These trials are crucial for mitigating risks associated with their innovative recycling process. 'We are pleased with the progress of our bench trials in Adelaide and Perth, which are progressing to de-risk our innovative recycling process,' Dommisse stated.
The company is diligently working towards completing its pre-feasibility study by June. This study is a critical step in refining IonDrive's commercial strategies and strengthening its position in the market. With a clear focus on overcoming technological and execution challenges, IonDrive is establishing itself as a key player in the rapidly growing battery recycling market. 'With our focus on technological and execution de-risking, IonDrive is positioning itself as a pivotal player in the expanding battery recycling market,' Dommisse added.
For more information on the battery recycling market and IonDrive's role within it, visit https://www.rhomotion.com.
