MELBOURNE – Zinc of Ireland NL (ASX: ZMI) has signed a binding agreement to acquire Dutch metallurgical technology company Meclex for a mix of shares, performance rights and options, in a A$5.5 million ($4.1 million) funded push into clean technology for zinc and lead recycling.
The acquisition gives ZMI ownership of two proprietary hydrometallurgical processes: ARGO, designed to recover zinc, lead, silver and critical minerals from zinc leach residue (ZLR), and VOLTA, an ambient-temperature lead-acid battery recycling technology.
The deal comes as European heavy industry faces soaring energy costs, rising carbon compliance bills and stricter hazardous waste rules. Traditional pyrometallurgical treatment of ZLR and lead batteries uses high temperatures, emits CO₂ and toxic gases, and leaves valuable metals unrecovered.
“The acquisition is a transformational moment for ZMI,” incoming chief executive Greg Ross said in a statement. “We now hold two of the very few technologies capable of solving these issues with a low-carbon, high-recovery process.”
ARGO, currently at technology readiness level (TRL) 4, is being developed under a cooperation agreement with Nyrstar, which provides feedstock and testing facilities. Pilot phase is scheduled for 2027. VOLTA, at TRL 6, is partnered with FIB S.p.A, controlled by European battery recycler SERI Industrial S.p.A, with a pilot plant already operating in Calitri, Italy.
The global lead-acid battery recycling market was valued at roughly $16 billion in 2025 and is forecast to reach $29 billion by 2034, ZMI said, citing industry data.
ZMI has completed a bookbuild to raise A$5.5 million to fund exploration at its Kildare zinc project in Ireland and further develop the acquired technologies. The company also announced board changes, appointing Mark Pearce as non-executive chairman from April 15 and Greg Ross as CEO effective immediately.
Completion of the acquisition is subject to shareholder approval, Belgian foreign direct investment clearance, and other standard conditions, with a target end date of June 30, 2026.
($1 = 1.3410 Australian dollars)