Lithium Universe Finalises NAM Acquisition to Leverage Silver Potential in PV Solar Panel Recycling

Lithium Universe (ASX: LU7) has finalised its acquisition of photovoltaic (PV) solar panel recycling technology specialist New Age Minerals (NAM).

Lithium Universe revealed in mid-June that it had entered into a binding agreement to acquire the global rights to Macquarie University’s microwave joule heating (MJH) technology via a licence held by NAM.

The MJH platform utilises microwave technology to enable delamination and potential recovery of valuable materials without the need for the extreme heat (1,400°C) typically required for separating materials like glass and silicon or the use of costly hazardous chemicals as per traditional processes.

Silver Extraction the Focus

Lithium Universe decided earlier this month after an in-depth review that it would focus on silver in the first phase of critical metals extraction utilising the MJH technology.

Silver is primarily used in PV solar cells as a key material for the electrical contacts that allow the flow of electricity generated by the solar panel.

The average solar panel contains around 20 grams of silver, worth around $36 per panel at the current silver price.

Growing Demand

Lithium Universe believes that the solar industry’s rapidly rising demand for silver makes it a particularly attractive first target.

“In 2025, silver demand is projected to reach a record 680 million ounces, fuelled by a 7% increase in industrial demand,” the company said.

The company expects the ongoing imbalance between supply and demand will result in a market deficit of around 117.6 million ounces in 2025.

The Macquarie silver extraction technology is currently in the patent submission stage, and the license will be made available to Lithium Universe once it is ready.

Patent Search Underway

Lithium Universe has already begun independent research and patent searches to identify the most effective methods for extracting silver from discarded PV solar panels.

Executive chair Iggy Tan said completing the NAM acquisition would allow the company to begin working more closely with the Macquarie University team.

“This next phase will focus on developing a robust research program to enhance the MJH technology and unlock its full commercial potential,” Mr Tan said.

“We believe this collaboration will play a pivotal role in advancing sustainable recycling solutions and position Lithium Universe as a leader in critical metal recovery from end-of-life solar panels.”