Cosmo Chemical Collaborates with China's No.1 Precursor Company CNGR on Spent Battery Recycling

Recycling and Resale of Used Batteries

Cosmo Chemical announced on the 16th that it has signed a memorandum of understanding for battery recycling collaboration with CNGR of China, the world's number one precursor market.

Cosmo Chemical announced on the 16th that it has signed a memorandum of understanding for collaboration on recycling waste batteries with CNGR of China, the world's number one precursor market. An Seong-deok, CEO of Cosmo Chemical (right), and Baek Jun-hyeop, CEO of CNGR Global Recycling (Photo by Cosmo Chemical)

At the end of last year, Cosmo Chemical completed a battery recycling plant with a capacity of about 3,800 tons at its Ulsan factory, which is currently in operation. It has established vertical integration for secondary battery cathode active material production by having Cosmo New Materials, which produces precursors and cathode materials, as a subsidiary.

CNGR holds a 25% share of the global precursor market, which accounts for 70% of cathode materials.

Cosmo Chemical plans to receive black mass produced in Europe, including CNGR's German branch, for use in its recycling plant, and to purchase nickel, cobalt, and lithium produced there from CNGR. Supply and sales are expected to begin as early as this quarter.

A Cosmo Chemical official stated, "At a time when we are on the verge of successfully achieving vertical integration from battery recycling to cathode materials, our technology has been recognized through collaboration with CNGR," adding, "This will provide a foundation for the stable operation of the battery recycling business."

Founded in 1968, Cosmo Chemical is a specialized materials company that is the only domestic producer in Korea to smelt and produce titanium dioxide and cobalt sulfate from ore.