Marubeni Co., Ltd. (hereinafter referred to as "Marubeni") and Retriev Technologies Inc ((hereinafter referred to as "Retriev") have established a strategic partnership to jointly develop the closed cycle business of scrapped lithium-ion batteries ("EOL LiB"). The two companies will jointly develop a valuable business model to recover valuable metals from battery closed-cycle treatment.
Retriev is a pioneer and market leader in the battery recycling industry in North America. Over the past 20 years, it has disposed of more than 25 million pounds of used lithium batteries and is unswervingly committed to lithium battery recycling solutions. The recovery process involves the crushing of the battery and the extraction of valuable metals.
Marubeni is playing a more and more important role in the lithium battery industry. Since 1985, Marubeni has been the exclusive sales agent of Zambian cobalt in the Japanese market, while trading other key raw materials in the cobalt and nickel battery industry. Marubeni uses its rich experience, expertise and global business network to play an important role in the field of lithium batteries.
With the continuous development of the new energy industry, the number of decommissioned lithium batteries is expected to grow rapidly. The recycling and management of scrapped lithium batteries has become one of the key challenges to the sustainable development of the global lithium battery industry chain. In this context, Marubeni and North American Retriev's closed-loop business model from battery to battery is bound to improve and accelerate the development of global circular economy.
