Lithium Universe has secured the exclusive rights to a patented microwave technology for recycling silver and critical metals from solar photovoltaic panels by completing its acquisition of licensee New Age Minerals.
The acquisition gives Lithium Universe access to Macquarie University’s microwave joule heating technology, which efficiently recovers silver and other critical minerals from discarded photovoltaic panels.
New Age Minerals has an exclusive licensing agreement with the Sydney-based university for the technology.
The buy-out positions Lithium Universe to tap into a growing $154 billion silver recovery market, amid growing demand for the relatively rare and expensive metal.
Each solar panel contains about 20 grams of silver on average, valued at $36 at current prices following a 126 per cent surge in prices since 2018. The silver is used to make a conductive paste for electrical contacts in the panels.
Global demand for silver is projected to hit 680 million ounces in 2025, driven by photovoltaics and artificial intelligence systems, prompting an anticipated market deficit of 117.6 million ounces of silver.
Macquarie’s platform uses microwave technology to selectively heat silicon, softening the plastic encapsulant in solar panels for easy delamination at room temperature.
This method avoids extreme temperatures - up to 1400°C - and hazardous chemicals required in traditional recycling. Traditional recycling also often requires mechanical crushing, leading to cross-contamination and lower recovery rates.
The new technology enhances the extraction of valuable metals such as silver, silicon, gallium and indium from discarded PV panels.
Lithium Universe executive chairman, Iggy Tan said: “We are pleased to have completed this important milestone, which now allows us to begin working more closely with the Macquarie University team. This next phase will focus on developing a robust research program to enhance the microwave joule heating technology and unlock its full commercial potential.”
The International Energy Agency estimates there will be 60–78 million tonnes of solar waste globally by 2050, with about 1 million tonnes expected to have been created in Australia by 2035. It would be valued at more than $1 billion.
Currently, only 15 per cent of solar PV panels are recycled due to the complex processes required and most end up in landfills.
Lithium Universe is collaborating with Macquarie University to advance its microwave joule heating technology research and development, focusing on optimising silver and critical metal recovery.
The company’s board, comprising chemical extraction specialists, is evaluating high-yield recovery methods for end-of-life modules. The acquisition, completed after legal due diligence and licensing agreement amendments, strengthens Lithium Universe’s position in the sustainable energy sector.
Lithium Universe’s strategic acquisition and cutting-edge technology signal a bright future for sustainable solar panel recycling, poising the company to help meet rising global demand for critical metals while reducing environmental waste.
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By Doug Bright
