Sungil HiTech Expands Battery Recycling Material Supply for '400,000 Electric Vehicles'

Construction of the 3rd Hydro Center in Saemangeum

Seongil Hi-Tech announced on the 30th that it will build a 3rd Hydro Center in the Saemangeum Secondary Battery Specialized Complex in Gunsan City, Jeollabuk-do Special Autonomous Province, and hold a completion ceremony on the 4th of next month. Seongil Hi-Tech is the only company in Korea that performs the entire battery recycling process.

The 3rd factory, built on approximately 30,000 pyeong of land, will produce 600 tons of cobalt, 5,300 tons of nickel, and 6,000 tons of lithium in the first phase, and when completed through the second phase, it is expected to produce materials sufficient to supply about 300,000 electric vehicles. The currently operating 1st and 2nd factories produce 4,400 tons of cobalt and nickel metal (enough for about 100,000 electric vehicles).

Once the 3rd factory begins full-scale mass production, Seongil Hi-Tech will become the largest producer of recycled battery materials in Korea, supplying raw materials capable of producing about 400,000 electric vehicles when combining the production volumes of all factories.

A Seongil Hi-Tech official said, "We have independently developed and commercialized secondary battery recycling mass production technology and are striving to establish sustainable energy solutions," adding, "With the large-scale battery material production possible at the 3rd Hydro Center, our goal is to strengthen our position in the waste battery recycling market."