Chinese company GEM collaborates with a US partner to establish a lithium battery recycling network across Europe
In a groundbreaking move, Chinese battery recycler GEM and US-based lithium battery recycler Ascend Elements have announced a partnership to build a lithium battery recycling chain in Europe.
Based in Massachusetts, Ascend Elements is a leading lithium battery recycler with operations in Europe and North America. The company has advanced technology to efficiently extract ma from end-of-life lithium-ion batteries. This ma will serve as the raw material for the production of lithium carbonate, lithium hydroxide, and lithium battery precursors and cathode materials in Europe.
The partnership aims to establish a full recycling chain in Europe for the dismantling of lithium batteries, extraction of lithium, nickel, and cobalt compounds, recovery of ma, and manufacturing of new battery materials. This could help GEM secure a leading position in the global power lithium battery recycling and utilization industry.
GEM and Ascend Elements will set up a joint venture in Europe to buy, develop, and operate local battery recycling and shredding businesses for recovering ma. The partners will also explore the feasibility of using ma recovered in Europe as raw material to make recycled lithium battery materials at GEM's facility in Indonesia.
The goal is to ultimately establish a multinational resource recycling and manufacturing business model to export the finished product back to Europe. The collaboration could help GEM and Ascend Elements build a lithium battery recycling chain in Europe, contributing to a more sustainable and circular economy.
Ascend Elements produces high-performance cathode materials from lithium carbonate and precursor materials. The company's production facilities will be built in Europe using ma as raw material to make these materials.
The stock of Ascend Elements has gained 14 percent since the end of last year, reflecting investors' confidence in the company's capabilities and the partnership's potential. However, GEM's shares (SHE: 002340) closed 1.8 percent down at CNY7.45 (USD1.05) apiece in Shenzhen today.
The partners will actively explore the feasibility of similar collaborations in the United States. This partnership marks a significant step towards a more sustainable and circular economy, as it demonstrates the potential for recycling end-of-life lithium batteries and reusing their valuable components in new battery production.
Ma, a powder mix produced during the dismantling of end-of-life lithium batteries, is primarily composed of cathode active materials such as lithium, cobalt, nickel, and manganese compounds. The recycling of ma not only reduces the environmental impact of lithium battery waste but also helps to secure the supply of critical raw materials for the battery industry.
This collaboration could help GEM and Ascend Elements establish a global power lithium battery recycling system, contributing to a more sustainable and circular economy. The partners are committed to making a positive impact on the environment and the battery industry by promoting the recycling and reuse of end-of-life lithium batteries.
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