Youngpoong·AJ Networks, Establishing European Secondary Battery Resource Recycling Supply Chain

Yeongpung and AJ Networks are establishing a European supply chain for the secondary battery resource recycling business.

On the 15th, the two companies announced that they signed a memorandum of understanding (MOU) on strategic collaboration for the global value chain of secondary battery resource recycling at Yeongpung's headquarters in Gangnam-gu, Seoul on the 14th.

Park Young-min, CEO of Youngpoong (left), is shaking hands with Park Dae-hyun, CEO of AJ Networks Logistics Division, after signing a memorandum of understanding (MOU) on strategic collaboration for the global value chain of secondary battery resource circulation at Youngpoong headquarters in Gangnam-gu, Seoul, on the 14th.

The two companies agreed to join forces to promote the commercialization of secondary battery recycling and to build a full-cycle supply chain. AJ Networks will be responsible for the transportation and overall logistics of secondary battery recycling materials such as used batteries and process scraps generated in Europe, while Yeongpung will produce battery materials through an integrated dry and wet resource recycling process to establish a battery circular economy system.

Furthermore, they will actively cooperate in business collaboration and building a cooperative system related to the transportation and pretreatment of used batteries and process scraps within Europe, as well as in establishing a local battery alliance and securing a stable supply chain in Europe.

They will also engage in mutual cooperation to strengthen competitiveness in raw materials, pretreatment, and logistics businesses that comply with the European Critical Raw Materials Act (CRMA) regulations.

In August, Yeongpung signed an MOU with Lotte Global Logistics to establish a North American secondary battery supply chain, thereby securing a global secondary battery supply chain.

Park Young-min, CEO of Yeongpung, said, "Through the MOU with AJ Networks, which is optimized for the secondary battery global value chain, we expect to build a global supply chain and secure competitiveness in stable raw material procurement."