Lithium Universe (ASX:LU7) targets silver recovery from solar waste with breakthrough recycling technology

Extracting Value from Discarded Solar Panels

Lithium Universe Limited (ASX: LU7) is expanding its clean energy strategy by tackling one of the solar industry’s most pressing challenges: waste.

With millions of tonnes of photovoltaic (PV) panels expected to reach end-of-life in the coming decades, the company is seizing an opportunity to recover valuable metals, beginning with silver.

In this Q&A, Executive Chairman Iggy Tan outlines why silver recovery is the company’s first focus, what sets its technology apart, and how this initiative fits within Lithium Universe’s broader mission to power the circular economy.

Why has Lithium Universe chosen silver as the first target in its solar panel recycling strategy?

Silver is not only one of the most valuable metals found in solar panels, but also one of the most essential.

It plays a critical role in conducting electricity within the cell and is embedded into nearly every panel manufactured today.

Given that each solar panel contains around 20 grams of silver, the value of which now exceeds A$36 per panel, the scale of the opportunity becomes very clear.

Silver demand is projected to reach 680 million ounces this year, while supply is falling behind, creating a structural deficit.

By recovering silver from discarded panels, we’re addressing a growing industrial demand while also creating a new, sustainable revenue stream for the business.

“The silver that’s contained inside Solar Modules equates to in its totality, Australia’s Biggest Silver Mine.” (Australia Smart Energy Council)

What makes your technology different from traditional solar panel recycling methods?

Our technology, developed at Macquarie University, offers a safer, cleaner and more efficient alternative to conventional recycling processes.

Most solar panel recycling today involves extremely high heat, sometimes up to 1400 degrees Celsius or chemical-intensive methods that pose environmental and safety risks.

In contrast, our Microwave Joule Heating Technology uses targeted microwave energy to soften the encapsulant inside the panel and delaminate its layers at room temperature.

This preserves the integrity of valuable materials and avoids cross-contamination, improving recovery rates without requiring crushing or chemical baths.

“This innovative approach eliminates the need for extreme heat (1400°C) typically required to separate materials like glass and silicon, as well as the use of expensive and hazardous chemicals in traditional methods.”

How big is the opportunity for silver recycling from solar panels?

The opportunity is massive and globally, solar panel waste is projected to reach 8 million tonnes by 2030 and as much as 78 million tonnes by 2050.

In Australia alone, the total is expected to reach 1 million tonnes by 2035.

Given that only around 15 percent of solar panels are currently recycled, most of this material including a significant quantity of silver ends up in landfill.

With silver prices increasing by over 120 percent since 2018 and industrial demand accelerating at 7 percent annually, we believe the economics strongly support commercial recycling.

Our ability to extract silver efficiently from this growing waste stream puts us in a unique position to add value where others see a disposal problem.

“The average solar panel contains around 20 grams (0.7 oz) of silver, worth about A$36 per panel at today’s silver prices.”

What are the next steps for commercialising the silver extraction technology?

The first step is to finalise the licensing of a newly developed silver extraction process that complements the microwave delamination method.

This silver-specific technology is currently undergoing patent protection, and once complete, we expect to secure full licensing rights.

In the meantime, we’re conducting independent research and patent reviews to assess competing technologies and determine the most effective recovery process.

Following that, we’ll initiate pilot testing to validate recovery rates and operational costs, which will inform our path to full-scale commercialisation.

This staged approach ensures we’re not only building a viable technical solution, but also one that can be deployed economically at scale.

Will Lithium Universe look to recover other valuable metals from solar panels in the future?

Yes, silver is just the beginning, once we’ve established an efficient recovery process for silver, we intend to expand our focus to include other critical materials such as silicon, gallium and indium.

These metals are essential in semiconductors, high-performance solar cells, and electronics, yet their global supply chains are vulnerable, particularly because China dominates production.

By recovering these metals locally through recycling, we can help reduce Australia’s and the world’s dependence on concentrated sources.

This multi-metal recovery strategy not only increases the commercial upside of our recycling platform but also aligns with our vision to contribute meaningfully to the clean energy supply chain.

Looking Ahead: Building a Platform for Strategic Metal Recovery

The silver extraction initiative by Lithium Universe lays the groundwork for a broader recycling strategy that supports both environmental and economic outcomes.

By starting with silver, the company is entering a market where demand is rising, supply is tight, and traditional mining is struggling to keep up.

With cutting-edge technology, a growing volume of solar waste, and a clear path to commercialisation, Lithium Universe is well positioned to expand into recovering other high-value metals.

As the world accelerates its transition to clean energy, this circular approach to metal recovery is not only timely, it’s essential.

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