Redivium updates Q2 FY25 with new partnerships and progress in battery recycling projects

Redivium (ASX:RIL) has released its Q2 FY25 quarterly report, providing insights into recent business developments and financial health.

The company, established in 2002, focuses on lithium-ion battery recycling technology across Europe.

Redivium has initiated partnerships in Central and Southeast Europe, undertaking engineering feasibility studies for licensed recycling technology.

In the UK, a feasibility study was conducted with G&P Battery Recycling, marking progress toward establishing a 10 tonne per day Spoke facility.

The study covers the project's economic viability, preliminary equipment design, and permitting requirements.

Immediate next steps include securing grants and investment incentives.
"Redivium's ambition is to become a leading European battery recycler by leveraging our advanced technology and strategic partnerships," stated Jonathan Murray, Non-Executive Chairman of Redivium.

The company completed a share sale agreement with Viridian Capital for Reed Exploration and anticipates concluding an associated entitlement offer by Jan. 31.

Despite reporting a cash position of $260,000 as of Dec. 31, 2024, Redivium remains optimistic, citing anticipated funding from a pro-rata entitlement offer to sustain its operations and achieve business objectives.

Redivium offers sustainable resource solutions. The principal activity of the company is the implementation of the European battery recycling strategy.

The company is engaged in licensing recognised battery recycling technology across the United Kingdom, the Nordics, and Central, South and East Europe.