Hamilton Locke advised Australian battery recycling start-up on a $8m fundraising round to develop and commercialise its lithium-ion battery recycling technology. The round was led by Investible’s Climate Tech Fund, the Clean Energy Finance Corporation (managed by independent investment management firm Virescent Ventures), and Grantham Foundation for the Protection of the Environment.
The funding will be used to develop a pilot plant in Perth and facilitate the construction of a larger demonstration plant that can recycle up to 1,500 tonnes of lithium battery waste per annum. Founded by metallurgists Mark Urbani, Gary Johnson, and Nick Vines, the company is led by CEO Luan Atkinson and chaired by former BHP CFO Peter Beaven.
Luan Atkinson, CEO of Renewable Metals, said: “It was an absolute pleasure working with the team at Hamilton Locke. We valued their advice throughout the process, and they were incredibly efficient and responsive. We look forward to their ongoing support as we grow our business.”
Commenting on the investment, Josh Bell, Special Counsel, who led the Hamilton Locke team said: “We are delighted to have advised Renewable Metals on this strategic fundraising round. The outstanding calibre of investors in this round, which included Investible, CEFC, and Grantham, clearly demonstrates the quality of the business and game-changing battery recycling technology that the founders, Luan Atkinson, and the Renewable Metals team are developing”.
The Hamilton Locke team comprised of Josh Bell, Special Counsel, Hal Lloyd, Deputy Managing Partner, and Lorenzo Ricchi, Lawyer
