The CEFC is committing to up $7.5 million to Australian e-waste recycler Scipher Technologies to help tackle the nation’s mounting e-waste problem and reduce the associated emissions. The CEFC investment in the Scipher Series B funding round, made through the Australian Recycling Investment Fund, is being matched by a $7.5 million investment from the Australian Business Growth Fund (ABGF), delivering a substantial $15 million boost to Australia’s recycling capabilities.
E-waste includes valuable commodities which can be recovered and recycled through ‘urban mining’, preventing them from being sent to landfill. These commodities include steel and iron (ferrous metals); copper, aluminum, and zinc (non-ferrous metals), and gold, silver, and palladium (precious metals).
The CEFC investment, on behalf of the Australian Government, will enable Scipher to increase its e-waste processing capacity by investing in new and upgraded recycling infrastructure. Scipher is also planning to extend its recycling capacity to include mobile phones, lighting equipment, large household appliances, and solar panels.