PLS commences commissioning of Mid-Stream Demonstration Plant with ARENA grant funding secured and offtake in place

24 April 2026

PLS has reached a key milestone in its Mid-Stream Demonstration Plant Project, with commissioning commencing following completion of the Mid-Stream Demonstration Plant ownership restructure, securing of ARENA grant funding and execution of an offtake agreement with Ningbo Ronbay New Energy Technology Co. Ltd (Ronbay).

Highlights

• ARENA Grant Funding Secured: Up to $38.1M Australian Government ARENA grant secured to support operation of the Mid-Stream Demonstration Plant.
• Offtake Agreement Executed: Offtake agreement executed with Ronbay for lithium phosphate produced from the Mid-Stream Demonstration Plant.
• Ownership Restructure Completed: Mid-Stream Demonstration Plant restructure completed, with PLS acquiring Calix’s ownership interest.
• Commissioning Commences: Commissioning of the Mid-Stream Demonstration Plant to commence immediately, with first product expected in the September Quarter 2026.

PLS’ Mid-stream Demonstration Plant represents a deliberate step to test more efficient and lower-carbon processing pathways for hard-rock lithium. It is designed to test whether additional value can be realised at the resource by moving beyond spodumene concentrate production toward intermediate chemical products, including potential improvements in margins, product positioning and participation in emerging battery supply chains. This builds on PLS’ broader chemicals strategy, including its downstream integration through the P-PLS joint venture with POSCO and study pathways with Ganfeng.

PLS Managing Director and CEO, Dale Henderson, said:

“Global battery supply chains are still taking shape in this high-growth market, and over time the most competitive and technologically viable pathways will determine where long-term value is captured.

The Mid-Stream Demonstration Plant is a deliberate step by PLS to test whether more value can be captured at the resource by moving further along the lithium value chain.

We acknowledge the Australian Government’s continued support through ARENA grant funding, which reflects the potential of this project to deliver lower-emissions processing and increased onshore value-add in critical minerals. Together with our offtake relationship with leading LFP cathode producer Ronbay, this provides a strong foundation as we move into commissioning.

This is a disciplined validation and optimisation phase. If the technology performs and the product is accepted by the market, it creates a meaningful strategic option for PLS. If it does not, we will have tested it in a controlled and capital-efficient way.”