On May 28th, (POSCO HY Clean Metal.), "Posco-Huayou Regeneration and Recycling Co., Ltd." jointly established by Huayou Recycling and Posco, and the South Korean government of Jeonan held a signing ceremony for the investment agreement on environmental protection for the recycling of waste batteries in Jeonan Road Hall. Jeong Changhwa, Director of New growth Department of Posco, Kim YeongRok, Governor of Quanluonan, Kwon Ohbong, Mayor of Lishui, Kim Gyeongho, Vice Mayor of Guangyang, Kim Gapseop, Director of Free Zone of Guangyang Bay Circle, CEO Chi Woohwang of Posco, COO Guo Silan of Huayou, etc., attended the investment signing ceremony.
On May 7th, Huayou Recycling and Posco, a Fortune 500 company, jointly established a joint venture "POSCO HY Clean Metal" for the recycling of waste batteries in South Korea. The joint venture company plans to establish a wet smelting production line for the recycling of waste batteries in Guangyang Li Village Industrial Park, Guangyang City, Jeonan Road, South Korea. The production line plans to import the waste battery materials from European battery factories in Europe into black powder after being imported to South Korea to extract the core raw materials of cathode materials such as nickel, lithium, cobalt and manganese to make sulfate products. The first phase of the wet smelting production line can handle 10,000 tons of black powder per year, and plans to expand production according to market conditions.
As a subsidiary of Huayou Cobalt Industry, Huayou Recycling Industry Group is committed to the comprehensive utilization of decommissioned power batteries, the business covers the aftermarket service of new energy vehicles, the recycling of retired power batteries, the research and promotion of echelon utilization and the research and promotion of efficient recycling technologies for key materials. With the commissioning of the recycling production line of independent wet smelting, it has laid a solid foundation for Huayou Recycling Industry Group to build a system of recycled materials, and took the lead in realizing a green economy model of providing 100% traceable recycled materials in the industry. In addition, with the establishment of a joint venture between South Korea and Pohang, Huayou has opened up the circulation of waste battery recycling generated overseas, thus realizing the global recycling capacity of waste batteries and contributing Huayou's wisdom and strength to the realization of the goal of "carbon neutralization".
