Hyundai Glovis invests in stake of EV battery recycler

South Korean shipping and logistics company Hyundai Glovis Co. announced on Monday that it has signed a share subscription agreement (SSA) related to equity investment with the domestic battery recycling ER. 

ER has a preprocessing technology for battery recycling. Through the latest equity investment, Hyundai Glovis now holds the rights to use ER's preprocessing techs and facilities.

The investment amount and detailed contract terms were not disclosed, as agreed upon by both parties.

The recycling process for used batteries is divided into preprocessing and post-processing stages. Preprocessing involves discharging the remaining power in used batteries physically, dismantling them, removing impurities, and producing black powder, which is the material separated from the cathode.

ER, established in 2008, specializes in preprocessing used batteries, particularly those from electric vehicles. The company possesses patented technology for processing end-of-life lithium-ion batteries using a low-temperature vacuum system.

Additionally, it has eco-friendly processing technology that does not generate wastewater or carbon dioxide during the preprocessing stage and recovers electrolytes.

With the acquisition of ER's technology and facilities, Hyundai Glovis plans to expand its portfolio as a company capable of collecting, preprocessing, and recycling used batteries in the used battery market.

Leveraging ER's technology and facilities, Hyundai Glovis aims to directly perform the preprocessing process, continually develop and improve preprocessing technology, and establish bases in regions such as Southeast Asia, Europe, North America, and South Korea to collect and process used batteries.

Write to Hyung-Kyu Kim at khk@hankyung.com