Iondrive Limited announced that Dr Ebbe Dommisse appointed as CEO. Dr Dommisse brings over 25 years of diverse industry experience and a strong track record in operations and commercialisation. The appointment builds upon Dr Dommisse's early success with progressing the prefeasibility study for the Company's lithium battery recycling technology.

The pre-feasibility study for the lithium battery recycling technology is expected to be finalised in the current quarter. Mr. Robert Smillie is retiring from his role as Managing Director and CEO of Iondrive Ltd. but remains engaged as a consultant, focusing on the South Korean lithium exploration with Kobold Metals. Dr Dommisse brings a wealth of experience in leading large-scale operations and commercialising innovative technologies.

The appointment follows Dr Dommisse's progress achieved, over the last three months, with the pre-feasibility study for the Company's lithium battery recycling technology. With a career spanning over two and a half decades, Dr Dommisse has held key executive positions across various global markets including Australia, USA, South Africa, Europe, China, and South-East Asia. Based in Australia and with his experience in enhancing company operations, and in bringing innovative products to market, Mr. Dommisse is perfectly positioned to progress Iondrive's strategic objectives, including the commercialisation of three battery related technologies exclusively licensed from the University of Adelaide.

As CEO, Mr. Ebbe will also be responsible for the Company's exploration business, focussed on lithium exploration in South Korea through the Earn-in and Joint Venture Agreement with a subsidiary of KoBold Metals Company ("KoBold") (refer ASX Announcement 22 November 2023). Under that agreement, KoBold have engaged Iondrive's in-country resources and experience to progress their earn-in expenditure requirements, which in turn not only progresses these projects but also substantially reduces Iondrive's net cost of operations in South Korea. While Mr. Robert Smillie is retiring as Managing Director and CEO of Iondrive, Mr. Smillie will continue with the Company in a consulting capacity to oversee the lithium exploration in South Korea and importantly, manage the relationship with KoBold.

Mr. Smillie will also continue to lead efforts to monetise the Company's exploration projects comprising precious metals and rare earth elements.