Recycling business gains funds to tackle lithium batteries
A scrap metal recycler has secured a funding boost to explore new ways to dispose of lithium batteries In New Zealand.
Global Metal Solutions has raised $5 million from a private investor in the Malaysian scrap industry.
Electric cars, power tools, cell phones and vapes contain lithium-ion batteries - and their use is expected to rise.
Global Metal Solutions managing director Craig Tuhoro said the batteries needed careful management at end of their life span, because they were toxic and highly combustible.
"I don't see the shipping lines of the world wanting to take this problem on in [terms of] moving these things around outside of New Zealand," Tuhoro said.
"We're going to have to fix these problems within the country. I've been working on this for twelve months with our investor and we're looking to bring a lithium process into New Zealand, so we can look to take care of this waste issue."
Tuhoro, whose company had yards in Auckland, Hamilton and New Plymouth, said more money was still needed for the battery disposal project.