Youngpoong-Lotte Join Hands to Build Battery Recycling Supply Chain... Collaboration in the US

Overseas 'Used Battery' Transportation Cooperation
Providing Logistics Optimization Consulting and Solutions

Youngpoong announced on the 21st that it has signed a Memorandum of Understanding (MOU) with Lotte Global Logistics on a 'Strategic Collaboration for Building a Lithium-Ion Battery Recycling Full-Cycle Supply Chain (SCM)'.

By combining Youngpoong's non-ferrous metal smelting capabilities with Lotte Global Logistics' comprehensive logistics expertise, they plan to expand the recently spotlighted battery recycling business sector into the global market.

The two companies agreed to cooperate in promoting the commercialization of the battery recycling business and establishing a battery SCM through a strategic partnership. They will develop a collaborative system for initial operations such as the transportation of used batteries generated overseas, including in North America. Additionally, they will build a lithium-ion battery alliance including lithium-ion battery material and manufacturing companies, automakers, and lithium-ion battery performance evaluation firms, actively cooperating to secure a stable supply chain.

Lotte Global Logistics plans to provide logistics optimization consulting and lithium-ion battery logistics solutions to strengthen Youngpoong's competitiveness in the lithium-ion battery recycling business. Furthermore, they will support cooperation in research and development (R&D) and technological innovation activities in lithium-ion battery logistics and recycling fields, discover new business opportunities arising from the expansion of the future battery market, and enhance strategic collaboration.

Park Young-min, CEO of Youngpoong (left), and Park Chan-bok, CEO of Lotte Global Logistics, shake hands after signing a Memorandum of Understanding (MOU) on strategic collaboration for establishing a secondary battery recycling SCM at Youngpoong headquarters in Gangnam-gu, Seoul, on the 18th.
[Photo by Youngpoong]

Based on world-class non-ferrous metal refining and smelting technology, Youngpoong succeeded last year in recovering lithium for the first time in the world through a dry process. Currently, it is promoting lithium-ion battery recycling by securing an 'integrated dry and wet resource circulation process.' Recently, it laid the groundwork for entering the U.S. market by signing an MOU with Factorial, a U.S.-headquartered solid-state battery specialist company.

The integrated dry and wet resource circulation process is Youngpoong's unique resource circulation technology that, for the first time in the world, collects and recovers lithium (Li) dry, then processes the concentrated intermediate materials wet to recover key secondary battery material minerals such as nickel (Ni), lithium (Li), cobalt (Co), and copper (Cu). By utilizing materials in the input raw materials such as used batteries as a heat source, it minimizes fossil fuel use during dry furnace operation and reduces carbon emissions during the process to up to one-sixth compared to mining, representing an innovative recycling method.

Youngpoong CEO Park Young-min said, “Through this agreement, we have completed the final piece of the puzzle in building a recycling SCM for secondary batteries,” adding, “We will efficiently and smoothly promote the joint business of both companies to strengthen competitiveness.”