Company Launches RMB 135M Project for Recycling 30,000 Tons of Waste Batteries Annually

The South Korean government has begun work to establish a system that officially certifies the value of key minerals extracted from waste batteries, such as lithium and nickel, as recycled raw materials. The Ministry of Climate, Energy and Environment announced on June 25 that it signed a memorandum of understanding (MOU) for a pilot project on the battery recycled raw material production certification system at the President Hotel in Seoul, with six waste battery recycling companies and the Korea Environment Corporation participating. Through the pilot project, the government plans to verify the certification method in actual production processes before fully implementing the system in May next year. The battery recycled raw material production certification system is a scheme under which the government officially confirms that key battery materials, such as lithium, nickel and cobalt, produced by recycling waste batteries recovered from electric vehicles and other sources are recycled raw materials derived from waste resources. The certification will cover eight types of materials: lithium carbonate, lithium hydroxide, nickel sulfate, cobalt sulfate, manganese sulfate, graphite, mixed metal precipitate and cathode active materials.

Innox Lithium announced on June 25 that it has signed a memorandum of understanding (MOU) with JS Chem, a company specializing in lithium sulfide production, to cooperate on the solid-state battery materials business. Under the agreement, Innox Lithium will supply high-purity lithium hydroxide needed to produce lithium sulfide (Li₂S), while JS Chem plans to use the material to establish a lithium sulfide production supply chain.

Keeps BioPharma announced on June 24 that its subsidiary Battery Solutions signed a memorandum of understanding (MOU) with South Korean battery recycling company CIS Chemical to cooperate on the LFP waste battery recycling business. Under the agreement, Battery Solutions will handle pretreatment processes, including waste battery collection, discharging, dismantling and shredding. CIS Chemical will then be responsible for post-treatment processes to recover key valuable metals, such as lithium and iron phosphate, from black mass.