SK Ecoplant targets European waste battery recycling market

SK Ecoplant Co., its Singaporean subsidiary TES-AMM, and domestic eco-friendly business and secondary battery materials leader Ecopro Co. are poised to dominate the European waste battery recycling market.

SK Ecoplant announced on Friday the signing of a memorandum of understanding (MOU) with Ecopro and TES-AMM to collaborate on battery recycling in Europe.

The agreement aims to establish a circular economy that secures a steady supply of waste batteries and defective products from the battery manufacturing process, giving the three companies an edge in the waste battery recycling industry.

In order to secure waste battery supplies and establish a competitive edge, industry players agree that the first movers in the circular economy will benefit.

Combining SK Ecoplant and TES-AMM's recycling technology and global network with Ecopro's battery materials technology is expected to increase their bargaining power against the electric vehicle and battery manufacturers in Hungary and Germany.

Furthermore, the three companies plan to collaborate on addressing global environmental and energy challenges, establishing a complete recycling system that can manufacture batteries repeatedly using rare metals such as lithium, cobalt, and nickel recovered from waste batteries. This approach will contribute to the realization of a circular economy.

Write to Jae-Fu Kim at hu@hankyung.com