Yulho Visits Nasdaq-Listed AquaMetals in Korea... "Battery Recycling Technology Transfer Imminent"

Yulho announced on the 29th that Steve Cotton, CEO of the US Nasdaq-listed company Aqua Metals, will visit Korea.

Aqua Metals is known as a leading company in used battery recycling. This visit holds significance as the final on-site inspection with the intention of transferring Aqua Metals' core technology. The technology transfer is planned to take place after the completion of the factory, and the Yulho Materials plant in Hwaseong is expected to be completed soon.

CEO Steve Cotton will personally visit Yulho headquarters and its subsidiary Yulho Materials' "black mass" production facility to conduct due diligence. Once the due diligence is completed, preparations for the technology transfer will be fully underway.

In July this year, Yulho made an equity investment of $5 million in Aqua Metals to secure post-processing technology for used battery recycling. Through this, they plan to complete the upstream value chain of secondary battery raw materials, from "raw material supply (Ecoland)" - "used battery disassembly and crushing" - to "black mass production (Yulho Materials)".

The "aqua refining" technology owned by Aqua Metals is regarded as a "game changer" in the post-processing stage. If Yulho succeeds in introducing the "aqua refining" technology into the used battery recycling process, significant business synergy effects are expected. It could also enable them to become an industry leader.

The aqua refining technology is evaluated as the most environmentally friendly technology in the global market among post-processing technologies used so far, due to its extremely low carbon dioxide emissions and chemical usage. The resource recovery rate reaches 95%, and it can extract major cathode and anode raw materials such as copper, nickel, cobalt, and manganese with high purity. It is the only technology in the industry that can also extract lithium hydroxide.

Aqua Metals recently successfully completed the operation of a pilot plant located in Nevada, USA. In September, they also succeeded in manufacturing battery cells using lithium hydroxide recovered through aqua refining technology, proving their technological superiority in terms of commercialization.

A Yulho official explained, "Unlike the traditional 'pyro' (high-temperature smelting) method or the widely used 'hydro' (wet smelting) method, aqua refining technology is a next-generation technology that uses an electrochemical method." He added, "The electrochemical method is a field that major domestic companies and recycling firms have recently begun R&D on, focusing on its high efficiency and eco-friendliness."

He continued, "Since the technology transfer for the post-processing stage is imminent, we have made thorough preparations for the due diligence," emphasizing, "Through this visit, we expect to successfully verify mass production capabilities such as production facilities, build trust between the two companies, and demonstrate confidence in the business."

With the secondary battery specialist company ENPlus securing the largest shareholder status of Yulho, Yulho has been incorporated as an affiliate of ENPlus. Both companies plan to maximize business synergy in the fields of secondary battery raw materials and materials and finished products, respectively.