Seagritech, a subsidiary of KPS specializing in 'comprehensive battery recycling,' has officially launched its lithium battery recycling business for NCM (Nickel-Cobalt-Manganese) and LFP (Lithium Iron Phosphate) series batteries. The company has partnered with Suny Group, a battery recycling specialist in China, to import pretreatment equipment.
According to KPS on the 25th, Seagritech signed a contract with Suny Group for the design and installation of a 'lithium battery recycling plant' and plans to start the lithium battery recycling business using pretreatment process equipment from the second half of this year.
Suny Group, established in 2011 in Zhengzhou, Henan Province, China, is a comprehensive waste recycling equipment and medical device manufacturer responsible for everything from designing to assembling and deploying production lines for electric vehicle lithium battery recycling. The company has supplied related equipment to more than 10 countries worldwide, including the United States, Italy, Hungary, Turkey, Spain, India, Vietnam, Singapore, and Malaysia.
The lithium battery recycling equipment ordered by Seagritech is scheduled to be installed in an idle factory in Yeongcheon, Gyeongbuk, during the second half of the year. Subsequently, it will secure an annual production capacity (CAPA) close to 10,000 tons for electric vehicle battery recycling. Based on its top-tier smelting facilities in the domestic non-ferrous metal recycling business, the company currently supplies the main raw material (ingots) for automotive batteries to battery manufacturers both domestically and internationally.
Kim Minhong, CEO of Seagritech, stated, "We already possess technological capabilities for pretreatment processes such as crushing and heat treatment of used batteries, and since we are collaborating with the Korea Institute of Geoscience and Mineral Resources, a government agency, on pre- and post-treatment process technologies for lithium batteries, the blueprint for this new business area will be concretized within this year."
He added, "After securing technology for post-treatment of lithium batteries, we will be able to rapidly improve yield by leveraging our existing know-how in handling non-ferrous metals."
Since the second half of last year, Seagritech has signed a technology transfer agreement with the Korea Institute of Geoscience and Mineral Resources, receiving know-how on 'multi-stage solvent extraction monitoring systems and rare metal separation process design and operation.' Furthermore, through a joint research and development memorandum of understanding (MOU) on LFP battery recycling, it has emerged as the first national R&D partner for LFP recycling in Korea.
Meanwhile, aiming to enter the KOSDAQ market next year, Seagritech signed a representative listing sponsorship contract with KB Securities last month. Kiwoom Securities will serve as a joint sponsor. These securities firms evaluate Seagritech as the only company capable of leading not only the NCM electric vehicle battery sector but also the LFP market.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
