Yiwei Lithium Energy, Fuergy Technology and Green Mei to build a Recycling system of decommissioned batteries

Recently, Yiwei Lithium Energy and Fuergy Technology have signed cooperation agreements with Grimme one after another to improve the recycling of decommissioned and waste power batteries, and at the same time further enhance the supply and guarantee capacity of key raw materials needed by the two power battery companies.

On August 9, Yiwei Lithium and Grimme signed a Memorandum of Cooperation on directional Recycling of 10000 tons of recycled Nickel products. According to the memo, Yiwei Lithium can supply scrapped nickel-containing power batteries and battery waste to Grimme, which will supply recycled nickel products to Yiwei Lithium Energy.

The two sides agreed that within 10 years from 2024, Grimmy will supply more than 10,000 tons of recycled nickel products (including nickel sulfate, ternary precursors and ternary materials, etc.) to Yiwei Lithium Energy each year, so as to build the "power battery recovery-battery raw material recycling-battery material recycling-power battery recycling" power battery life cycle value chain and the global green supply chain of nickel products to promote the low-carbon emission standards of power batteries. Realize the coordinated development of economic and social benefits.

On August 18, Funeng Science and Technology signed the Strategic Cooperation Framework Agreement on the Construction of waste Power Battery and Battery waste Green treatment Industry chain.

According to the agreement, the decommissioned / waste power batteries and waste generated by the global supply chain of Funeng Technology will be centrally delivered to Grimme for recovery, disassembly, disposal and utilization by both parties according to the agreed price of the market, so as to realize the traceability management of the whole life cycle.

Through the green treatment of waste batteries and wastes provided by Funeng Technology, Green Mei extracts metals such as nickel, cobalt and manganese, and produces battery-grade nickel, cobalt, manganese sulfate, ternary precursors or cathode materials, which are supplied to Funeng Technology as raw materials for battery production.

For Greenmei, through cooperation with the above-mentioned battery enterprises, it will be beneficial for it and battery enterprises to build a power battery life cycle value chain of "power battery recovery-battery raw material recycling-battery material recycling-power battery recycling" and the global green supply chain of nickel products, through cooperation in resources, recovery, technology and market chain, Continuously enhance the company's core position and influence in the field of global new energy power battery recycling.

According to industry body forecasts, the capacity of decommissioned power batteries in China will be about 248600 tons in 2021 and is expected to reach 684200 tons by 2025. The decommissioned ternary battery contains metal elements such as nickel, cobalt and lithium, which has high economic value, and it is also the key element for ternary cathode materials. In addition, the recycling of metals in decommissioned batteries also helps to reduce the carbon emissions in the whole life cycle of the battery, which is in line with the carbon emission reduction target.

Yiwei Lithium Energy and Fuergy Technology are both the major power batteries in the world, especially the major manufacturers of ternary batteries. Under the general trend of the rapid development of new energy power ternary batteries in the world to high nickel and low cost, the two cooperate with Greenmei to carry out directional recycling of decommissioned ternary power batteries and scrapped nickel resources, which will become an effective way to ensure the strategic safety of nickel raw materials of all parties. To support the continuous growth of the power battery business of their respective enterprises in the future.