A new US-Korean joint venture has announced plans to launch a major lithium-ion batteries recycling operation in the US.
Metallica Commodities Corp (MCC) and SungEel HiTech said the new company, SungEel MCC Americas (SMA), will “redefine” the lithium-ion battery, e-waste recycling, energy and metals markets in North America— “where consumption of cobalt and lithium has outpaced supply in recent years”.
Another Chinese-South Korea investment deal has been done to produce lithium battery materials in China— in the latest sign of a thaw in economic tensions between the countries.
Chinese mining company Zhejiang Huayou Cobalt said its subsidiary, Huayou New Energy Technology, has signed a deal with South Korea’s LG Chem to launch two new joint venture companies at a total investment of some $645.6 million.
South Korean lead-acid battery maker ATLASBX is investing $75 million to open its first manufacturing plant in the US.
Tennessee state governor Bill Haslam confirmed the firm expected to complete construction of the plant in Clarksville, Montgomery Country, by 2020.
German lithium-ion battery developer and producer BMZ is considering partnering with a Japanese company to launch a battery cell production plant in Europe, BBB can reveal.
BMZ founder and managing director Sven Bauer (pictured) said the move is a “serious option” for the company “and makes sense”, as it seeks to widen its supply chain and production capabilities.
Seoul has confirmed it is in direct talks with China aimed at patching up a trade row that led Beijing to slap sanctions on the use of South Korean batteries.
As BBB reported last week, signs that the two countries were attempting to bury the batteries hatchet emerged as South Korean and Chinese firms formed two joint ventures to produce lithium-ion battery materials from bases in China.
Chinese and South Korean businesses have formed two new joint ventures to produce lithium-ion battery materials from bases in China.
The move follows months of claims and counter claims over China’s alleged “blocking” of South Korean batteries in a heated trade spat.
Canadian and Australian firms have signed a deal to supply 24,000 tonnes of flake graphite annually to South Korea’s expanding lithium battery industry.
Under the terms of the agreement, Canadian graphite developer DNI Metals will supply the material from its projects in Madagascar to Korean Graphite— a subsidiary of Australia’s Peninsula Mines— from the fourth quarter of this year.
South Korea’s battery manufacturer iQ Power Asia Inc. has been acquired by Vancouver-based lead-acid battery maker Discover Energy and will operates as a subsidiary under a new name.
The new business is called Discover MIXTECH Manufacturing Co Ltd and will be led by Steve Nam, the South Korean manufacturing site helps secure Discover’s global supply of automotive and commercial batteries.
German battery manufacturer Akasol has launched production of its high-performance lithium-ion systems for commercial vehicles at its new EUR10 million ($11.7m) plant in Langen, near Frankfurt.
Akasol started production on 16 November at the 600MWh capacity facility. The company said it has already secured contracts to supply its battery systems for 10,000 buses being built by two European bus manufacturers in the next few years.