Recyclico Battery Materials and Zenith Chemical have announced a joint venture that will create a US$25 million lithium-ion battery recycling plant in Southern Taiwan. The facility is expected to start operations in Q4 2021 to leverage Taiwan’s expanding energy storage sector.
The two companies are currently manufacturing and supplying lithium-ion cells, with a combined global market share of almost 15%. The new venture will enable them to increase their combined market share and expand their presence in the energy storage sector. Additionally, it will create job opportunities in the region.
The joint venture will enable the companies to take on the challenge of improving battery recycling technology, with Recyclico Battery Materials providing its expertise in the recycling of EV batteries. The venture will also seek to investigate new processes to extract more recyclable materials from used EV batteries, as well as working to reduce the amount of toxic materials in the recycling process.
In addition to creating job opportunities in the region, the venture will also boost Taiwan’s economy by providing high-quality jobs in the energy storage industry. It will also reduce the amount of hazardous materials that are being released into the environment.
Recyclico Battery Materials and Zenith Chemical have already committed to government-regulated carbon dioxide (CO2) emissions and waste management standards. By implementing the joint venture, the two will further contribute to Taiwan’s green energy transition and commitments to reduce global warming.
The two companies have also developed their own recycling technology that will be deployed in the new venture. This includes a machine capable of sorting, separating, and shredding used lithium-ion cells into components that can be reused for a variety of applications.
Recyclico Battery Materials and Zenith Chemical are committed to reducing the environmental impact of energy storage by focusing on efficient and responsible energy production and consumption. The US$25 million joint venture in Taiwan will help ensure that batteries are recycled properly and safely.