Lithium Australia Ltd managing director Adrian Griffin to retire & More News Here

Lithium Australia Ltd (ASX:LIT, OTC:LMMFF)’s distinguished managing director Adrian Griffin will retire from his place on the helm of Australian battery know-how chief efficient as we speak and tackle a newly created position as technical advisor to the corporate.

This management change aligns with the corporate’s entry into a brand new section, involving the commercialisation of lithium ferro phosphate (LFP) cathode powder manufacturing by its Batteries division and speedy growth of spent battery assortment, sorting and processing by its Recycling division.

Global search underway

LIT’s board has begun a world seek for a suitably certified candidate for the important thing position and within the interim, organisational buildings are in place to successfully handle the corporate and its subsidiaries.

From June 1, Griffin will tackle the technical advisor position and on a consulting foundation will proceed to present the corporate with the advantages of his broad technical and process-level experience.

Instrumental in repositioning

During the previous 10 years, Griffin was instrumental in repositioning the corporate from a junior, lithium-focused explorer named Cobre Montana NL to a technological entity with a unique title and a brand new focus – creating an moral, safe and sustainable round battery financial system.

As a outcome, shareholder worth within the firm has elevated considerably. Since commencing its lithium technique in September 2014 Lithium Australia’s market capitalisation has grown from $1.4 million to roughly $86 million as of May 2022.

Griffin has led LIT via a sequence of profitable lithium processing breakthroughs, the amassing of an intensive mental property portfolio and the strategic acquisition and profitable growth of the Very Small Particle Company (now VSPC Pty Ltd) and Envirostream Australia Pty Ltd.

Industry chief

VSPC is concerned within the analysis, growth and manufacturing of superior cathode supplies for lithium-ion batteries (LIBs) whereas Envirostream is Australia’s premier mixed-battery recycler, which additionally focuses totally on LIBs at their end-of-life stage.

With Adrian Griffin on the helm, LIT has develop into a vertically built-in business chief in battery supplies manufacturing and recycling, the purpose being to seize all components of the lithium worth chain.

VSPC work

As MD, he oversaw analysis into and the event and manufacture of LFP and different battery supplies at VSPC’s laboratory facility and pilot plant in Queensland, Australia.

This work has progressed to a definitive feasibility research for a ten,000-tonnes-per-annum LFP manufacturing plant slated for completion in 2022.

Envirostream growth

He has additionally helped information the growth of Envirostream’s operations to a second, bigger web site in Laverton, Victoria, Australia and the execution of agreements with the likes of the Bunnings chain of {hardware} shops for the gathering of spent batteries, thereby making certain that LIT is well-positioned to profit from the lately launched nationwide Battery Stewardship Scheme.

Griffin’s management was important within the demerger of Lithium Australia’s non-core exploration property into Charger Metals NL (ASX:CHR), a extremely optimistic transaction for the corporate and its shareholders.

Through its fairness in CHR, the corporate retains vital publicity to lithium uncooked supplies and has different free-carried undertaking pursuits which will additionally present entry to numerous uncooked supplies to feed LIT’s proprietary, downstream processing applied sciences, together with the manufacturing of lithium chemical substances and cathode powders.

“Clear path to the future”

Company chairman George Bauk mentioned: “On behalf of the board, I want to sincerely thank Adrian for his a few years of devoted service to the corporate.

“Under his management, Lithium Australia has acquired and efficiently superior numerous battery supplies alternatives below the Lithium Australia banner.

“Today, our key companies – VSPC and Envirostream – are each accelerating in direction of larger manufacturing capability.

“It’s reassuring to know that Adrian will stay concerned with the corporate in a technical position, so we will proceed to profit from his worthwhile contributions.

“With a transparent path to the longer term, the corporate seems ahead to appointing a brand new managing director, who, benefitting from the sturdy foundations laid by Adrian and the group, can drive the subsequent section of growth with a transparent give attention to increasing commercialisation and manufacturing alternatives. That particular person will definitely have large sneakers to fill.

“The board has begun a global search for a highly qualified candidate able to manage geographically diverse operations on a permanent basis.”

Entering new section

Griffin’s retirement is recognition of the timelines and dedication required to reposition the corporate for its subsequent section of its development.

LIT is poised to enter a brand new section when it comes to growth of its LFP cathode powder manufacturing and battery recycling enterprise divisions, each of which the board believes will catalyse firm development and shareholder worth.

The board has recognized the manufacturing of LFP cathode powder for new-generation lithium-ion batteries as the corporate’s most important business alternative.

In mild of that, an accelerated technique is being developed and realised via deliberate building of a pre-qualification LFP pilot plant doubtless to be in Queensland, underpinned by the sturdy business assist required for offtake growth.

Recycling of blended end-of-life batteries through Envirostream Australia Pty Ltd additional underpins the corporate’s ESG strengths.

Envirostream’s growth of its enterprise via its newly permitted amenities in Victoria is now full and a nationwide development plan is being developed.

With Envirostream, the corporate is well-positioned to reap the benefits of the anticipated vital enhance in volumes of spent batteries accessible for recycling, significantly on account of car electrification and Australia’s nationwide battery stewardship scheme.

“Excited for what future holds”

Outgoing MD Adrian Griffin mentioned: “I’m extraordinarily pleased with what I, along with complete the Lithium Australia group, have achieved up to now decade and excited for what the corporate’s future holds, particularly in relation to the battery supplies and battery recycling enterprise divisions, which, with their sturdy foundations, are poised for speedy growth and growth.

“Our vital funding in IP, a lot of it protected by worldwide patents, will doubtlessly allow ESG options for the mining, processing and battery industries and ship higher outcomes for the setting as we progress in direction of a zero-carbon financial system.

“Our enterprise divisions will, I strongly consider, drive development and worth for shareholders and, as a major shareholder myself, I might be happy to see that.”

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