Why this former BHP exec now runs a battery recycling start-up
Former BHP finance boss Peter Beaven says better technology will play a role in improving productivity but will not alone solve the cost challenge that sends many start-ups overseas and undermines Australia’s ability to add value to its critical minerals.
Speaking for the first time as chairman of Perth battery recycling start-up Renewable Metals, Mr Beaven said companies like his would be tempted to take their disruptive technologies overseas and Australia had to become more competitive if it wanted to rival established manufacturing nations.
Former BHP chief financial officer Peter Beaven who is now in a battery recycling start-up. Elke Meitzel
Renewable Metals has developed a new method for extracting and recycling metals like lithium, cobalt, copper and nickel from used lithium-ion batteries.
Battery recycling traditionally requires large amounts of energy, heat and acid, but Renewable Metals has adapted the alkaline leaching process used at some Australian nickel mines to create a battery recycling method that it believes will be cheaper, cleaner and recover more metal.
Developed by metallurgists Mark Urbani, Gary Johnson and Nick Vines, the technology got a vote of confidence this week when the federal Clean Energy Finance Corporation led an $8 million fundraising round.
The money will help Renewable Metals build pilot and demonstration plants in Australia.
Mr Beaven had not been seeking board positions since leaving BHP in 2020 after six years as chief financial officer, but learned of Renewable Metals through a friend and wanted to invest.
He took the chairman’s role because he believed the company could be “hugely successful” and was a good fit to his culture and values.
“[Recycling] is a critical thing that
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