Lithium Universe Ltd PV SOLAR CELL Recycling Acquisition Legal Due Diligence Complete

Melbourne, Australia (ABN Newswire) - During the June quarter, Lithium Universe Ltd (ASX:LU7,OTC:LUVSF) (FRA:KU00) (OTCMKTS:LUVSF) announced the acquisition of the global rights to commercially exploit a patented photovoltaic solar panel recycling technology known as "Microwave Joule Heating Technology" (MJHT) developed by Macquarie University and held by an Australian-incorporated holding company, New Age Minerals Pty Ltd. The transaction was finalised in July, when LU7 completed its due diligence and acquired 100% of the issued share capital of New Age Minerals Pty Ltd.

The basis of Microwave Joule Heating Technology utilises microwave technology to selectively heat silicon, thereby softening the EVA encapsulant in solar panels, enabling easy delamination and potential recovery of valuable materials at room temperature. This approach avoids the need for extreme heat (1,400degC) typically required for separating materials like glass and silicon, as well as the use of costly, hazardous chemicals in traditional processes. Delamination also enables selective separation of materials, whereas traditional crushing methods often result in cross-contaminated material and lower recovery rates.

The breakthrough technology offers a promising new approach for the enhanced recovery of valuable metals, including silver, silicon, gallium, and indium. The Company plans to initiate further research and development in this area.

"The Lithium Universe team has had a very productive start to the year.

On the lithium front, we completed the positive lithium refinery DFS, and over the past quarter have leveraged that into a wide range of ongoing conversations with producers, offtake partners, and funding partners.

Based on those discussions, I remain very confident in our counter-cyclical strategy and firmly believe that LU7 is well-positioned to benefit significantly when the lithium market rebounds.

While awaiting this recovery, we were also excited to seize the opportunity to acquire a cutting-edge solar panel recycling technology developed by Macquarie University. With a growing focus on the supply of critical minerals, the potential to unlock a new source of silver, silicon, gallium, and indium to feed the high-tech industry has a lot of value and aligns well with Lithium Universe's strategy of developing mineral processing technology and infrastructure for the circular economy.

Waste management is also a growing concern globally. And with only 15% of panels currently being recycled, the need for effective PV recycling has never been greater. Microwave technology offers a promising solution to these challenges, enabling higher recovery rates and more sustainable recycling processes.

We are looking forward to adding our chemical and industry experience to the mix and working with the Macquarie University team to commercialise this exciting technology."

Executive Chairman
Iggy Tan

*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/2X581523

About Lithium Universe Ltd:

Lithium Universe Ltd (ASX:LU7,OTC:LUVSF) (FRA:KU00) (OTCMKTS:LUVSF) is a forward-thinking company on a mission to close the "Lithium Conversion Gap" in North America and revolutionize the photovoltaic (PV) solar panel recycling sector. The company is dedicated to securing the future of green energy by addressing two major strategic initiatives: the development of a green, battery-grade lithium carbonate refinery in Quebec, Canada, and pioneering the recycling of valuable metals, including silver, from discarded solar panels.

Source:
Lithium Universe Ltd