An Australian startup has launched a new environmental, social and governance (ESG) technology project that aims to revolutionise supply chain transparency and carbon footprint verification in the fast-growing lithium battery recycling sector.
Loop Critical Minerals (Loop CM)—a joint venture between recycling technology company Battery Pollution Technologies and blockchain supply chain technologist Blockhead Technologies—aims to set a new standard in accountability and environmental responsibility in the lithium battery recycling industry.
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With global efforts focused on combating climate change and creating a circular economy, Loop CM’s technology is being designed to eliminate greenwashing and deliver a data-driven, objective assessment of a company’s recycling processes.
It will effectively monitor the recycling process from battery end-of-life recovery and transportation to chemical engineering battery metals extraction processes.
Loop CM’s technology is also being designed to assist companies meet increasing regulatory compliance, including in the transportation of spent battery cells and disposal verification; monitor and manage the safety and hazard issue; measure residual waste and how it is responsibly reprocessed or disposed of; and assess the use of energy in the recycling process as the world transitions to a zero net carbon footprint.
The JV will not only target Australia but the established Northern Hemisphere markets. The blockchain technology is an attractive sustainability solution for multiple players within the battery ecosystem including major battery producers, car manufacturers, financiers and regulators.
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“We are excited to be working towards a transformative solution that empowers businesses in the lithium battery recycling sector to take meaningful steps towards transparency, sustainability and the journey to net zero impact,” Battery Pollution Technologies CEO Nicholas Assef said.
“The Loop CM technology is aimed to provide visibility into the complex recycling supply chain which will also allow verification of a variety of data points that are specific to the lithium battery recycling industry, enabling companies to make environmentally conscious choices.”
