Iondrive (ASX:ION) said it is evaluating the expansion of its deep eutectic solvent (DES) platform into the e-waste urban mining market, targeting high-value materials like copper, gold, silver, palladium, and rare earth elements from printed circuit boards, according to a Monday filing with the Australian bourse.

Testing will be conducted at the University of Adelaide, funded by a AU$100,000 Green Industries SA grant, the filing said.

The work will demonstrate how the company's DES process can extract metals from complex feedstocks using biodegradable, closed-loop chemistry, according to the filing.

Shares rose 5% in midday trade Monday.