Greece’s Sunlight Group has acquired the remaining 50% of its battery recycling subsidiary Ubatt GmbH.
It said it gives it a better foothold in the German renewable energy market. Ubatt has been a key player in eco-friendly recycling.
The acquisition will be done through the subsidiary Sunlight Recycling SA and is subject to regulatory approval.
Sunlight said Ubatt collects more than 58,000 tons of used lead and lithium batteries annually. It fits into the group’s recycling business alongside Sunlight Recycling and Ecorba in Italy.
The agreement for the acquisition of Ubatt follows Sunlight Group spinning off its lead-acid accumulators and other lead materials recycling business. That allowed Sunlight Recycling to accelerate its expansion in the global used batteries market, it said.
Lampros Bisalas, CEO of Sunlight Group, said: “The acquisition of Ubatt represents an additional step in expanding our footprint in the global batteries recycling market.”
