The Serbia-based LFP battery maker ElevenEs has signed a memorandum of understanding (MOU) to establish a joint venture (JV) for recycling LFP battery waste with multiple companies.
This joint venture will include a few different companies, including the Germany-based battery recycling firm MResource, the joint venture company Miracle Oruide (Guangzhou) Autoparts Remanufacturing between Miracle Automation Engineering and the automaker Stellantis, and American Lithium Renaissance Holding Company.
It will be focused on developing a sustainable solution for LFP battery recycling, including prismatic cells and producing black mass from collected and processed battery waste.
Black mass contains critical minerals such as lithium and copper that could be used in new LFP cathode active material.
ElevenEs said that the new JV is to bring diverse expertise from Europe, Asia, and North America to tackle the critical environmental and supply chain issues within the expanding LFP market.
The firm is said to have developed the first LFP battery produced in Europe in 2023, according to SeeNews.
Last month the firm also launched a new battery cell intended for use in EVs and industrial machinery with a 147Ah capacity.
The company responded to the latest International Energy Agency (IEA)’s global electric vehicle (EV) outlook report that suggested LFP is now used in nearly 40% of all battery EVs sold worldwide, which is a 14-point increase from 26% in 2020.
ElevenEs said: “This market validation strengthens our position and purpose. We are not just part of a global trend—we’re ahead of it.”
Image: Eleven Es new Edge 547 Blade cell LFP battery. Credit: Eleven Es
