Yulho, Aquametals and Hanyang University Clean Energy Research Institute 3-Party MOU... "Cooperation on Waste Battery"

Yulho announced on the 1st that its subsidiary Yulho Materials has signed a tripartite Memorandum of Understanding (MOU) with Aqua Metals and Hanyang University Clean Energy Research Institute. Through this agreement, the three parties plan to closely collaborate in the field of spent battery recycling to successfully conduct joint research and secure business contracts.

The Hanyang University Clean Energy Research Institute is a university-affiliated research center established with the goal of advancing fundamental academic research and technology development in advanced materials fields such as Information and Communication Technology (IT), Nanotechnology (NT), and Energy & Environmental Technology (ET). It will cooperate in various technical consultations and expanding collaborative networks in the eco-friendly battery recycling sector.

This MOU was signed during the recent visit of Nasdaq-listed Aqua Metals to Korea. On the 29th, Aqua Metals visited Yulho Materials' black mass production facility ahead of technology transfer regarding the post-processing procedure with Yulho.

After successfully completing due diligence, Aqua Metals introduced its proprietary "aqua refining" technology and, as part of exchange activities, visited Hanyang University and domestic secondary battery companies. The aqua refining technology is a process that extracts high-purity key cathode and anode raw materials, including lithium hydroxide, from black mass.

A representative from Yulho Materials stated, "With this MOU, we expect to significantly strengthen our capabilities in the spent battery recycling business. Through close industry-academia cooperation, we aim to enhance our competitiveness in the global secondary battery market and become a leading company in the spent battery recycling industry."

As the electric vehicle battery market grows, demand for the spent battery recycling market, a future resource, is also expected to increase. According to SNE Research, the global battery recycling market size is projected to grow from approximately $10.8 billion (about 14 trillion KRW) this year to $208.9 billion (about 267 trillion KRW) by 2040.