Korea's First Power Battery Recycling Company Established

- Mar 22, 2020-

Korea's first power battery recycling company established

   As the number of electric vehicles continues to increase, the number of batteries continues to increase, and people have begun to worry about how such lithium-ion batteries can be recycled after 10 to 15 years of use.

   Why does recycling cause concern? The first is cost: Because electric vehicle batteries are complex and require rare metals such as cobalt and manganese, they are one of the most expensive components in such cars. As electric vehicles become more common, it is much cheaper to recover such metals from waste batteries than to mine them from the earth. More importantly, it can reduce the carbon footprint, not only to reduce the carbon footprint generated when driving, but also to strictly control the battery recycling method throughout the life of battery raw materials to waste.

   South Korea establishes first power battery recycling company

   According to reports, Earthtech can disassemble 5,000 electric vehicles each year and dispose of 2,000 tons of used electric vehicle batteries. In addition, Earthtech has stated that it will invest 24 billion won (approximately $ 20 million) to build the company, and it is the first such facility in the region.

   In the plant, the disused used batteries will first undergo performance tests, and then be prepared for fixed energy storage systems based on their own conditions and remaining capacity. If testing shows that the battery is no longer available for reuse, raw materials such as lithium, nickel, cobalt, and other precious metals inside the battery in power storage systems will also be recycled. Earthtech has not determined the recovery rate of every recyclable material in the battery.

   In addition, the company will conduct various research and commercial projects on electric vehicle batteries.

   The business of recycling batteries from electric vehicles is constrained by complex environmental conditions. In addition, it is difficult to obtain technologies and processes for recycling used batteries. Earthtech will store all scrapped EVs indoors and disassemble batteries in an environmentally friendly way