Lithion Recycling is set to introduce its patent-pending hydrometallurgy recycling technology to the Korean market after reaching an agreement with construction materials firm IS Dongseo.
Korea-based Dongseo has an exclusive business right for the use of the Canadian firm’s recycling technology on the Korean market.
The technology works by mechanically separating the plastic/metals, and using a hydrometallurgical processes to purify the various metals contained in the cathode.
Dongseo plans to start building its first Korean facility this year, which will be capable of processing about 7,500 tons of waste batteries per year (around 20,000 electric car batteries).
This second phase will include building a hydrometallurgy plant based on Lithion’s technology, allowing Dongseo to supply more than 15,000 tons of battery-grade materials per year.
Jeon Hyung Joon, battery recycle business director at Dongseo, said: “Korea is home base to many important and dynamic actors in the lithium-ion battery and battery materials supply chain.
“As these companies are rapidly expanding in Asia, in the United States and in Europe, our partnership with Lithion opens up tremendous global growth opportunities for both of us.”
Lithion is planning to grant licenses to strategic operating partners, with the goal of commissioning more than 25 battery recycling plants based on its technology in the next 15 years.
On 24 January, Lithion announced it had reached financial close on a first tranche of a Series A financing round for up to $125 million that will be invested in the construction of its first lithium-ion battery recycling plant and a state-of-the-art Technology Development Center in Quebec, Canada, as well as bringing its hydrometallurgy technology plant to breaking ground.