It certainly looks like a positive step for now, but it doesn't...

It certainly looks like a positive step for now, but it doesn't really seem that significant.

From the announcement:
- 'the non-exclusive battery recycling agreements with the two Suppliers'
- 'Neither agreement is considered material agreement due to the volumes and no significant costs are being borne by the Company. The agreements have an indefinite term but can be terminated by the Supplier on between zero and 60 days notice. Neither supplier are expected to rank in Envirostream’s top ten suppliers of batteries by volume this financial year'
- 'Envirostream expects to begin recycling a regular small volume of EOL EV battery packs over the next few weeks. Envirostream will continue activity marketing this service to other Australian and international EV suppliers and manufacturers.'

So basically looks like the to-be-mentioned suppliers are trialling/testing Envirostream's process - perhaps along with some other battery recyclers, hence the non-exclusivity, and from here the suppliers will decide whether further deals be made or not made with Envirostream based on performance. Considering neither agreement is 'material' it is not significant right now IMO, but could possibly lead to more significant agreements down the track.