MELBOURNE: Livium Ltd. (ASX: LIT), a leading Australian clean energy recycler, has signed a memorandum of understanding with South Korean solar innovator Won Kwang S&T to jointly address Australia’s mounting solar panel waste through advanced recycling technologies.
The agreement marks Livium’s strategic expansion into photovoltaic (PV) recycling, leveraging its subsidiary Envirostream’s infrastructure and customer base to process end-of-life solar panels. Under the three-phase plan, Livium will initially export panels to South Korea for recycling, with the long-term goal of establishing a joint venture to build and operate a domestic facility.
“This partnership allows us to demonstrate the viability of solar panel recycling while positioning Livium to lead in Australia’s emerging PV waste sector,” said Simon Linge, Livium’s CEO and Managing Director.
Australia is projected to generate more than 90,000 tonnes of solar panel waste annually by 2035, yet only 10% of decommissioned panels are currently recycled. A national product stewardship scheme is expected to ban landfill disposal and mandate producer-funded recycling, further accelerating demand for domestic solutions.
Won Kwang S&T, which operates one of South Korea’s major PV recycling facilities, will apply its proprietary in-situ heating separation technology to process Australian panels. The collaboration will evolve from export-based recycling to partial dismantling and ultimately to local infrastructure development.
“This is a logical step in our growth strategy,” said Sang Hun Lee, CEO and founder of Won Kwang S&T. “Australia is a key market for us, and this partnership enables us to optimize our technology for broader deployment.”
Livium will receive service fees based on fair market value and cost-recovery principles, with terms to be agreed upon at each phase. The move diversifies Livium’s revenue streams and aligns with its circular economy strategy announced earlier this year.
The Australian PV recycling market is expected to grow from US$3.5 million in 2024 to over US$10.8 million by 2033, while the global market is forecast to reach US$2.67 billion by 2034.
The companies are now working toward a binding joint development agreement.