EcoPro partners with Cirba Solutions for battery recycling

South Korean battery materials manufacturer EcoPro Co. said on Thursday that it has signed a memorandum of understanding (MOU) with the US-based lithium-ion battery recycling Cirba Solutions.

Cirba Solutions specializes in extracting valuable minerals like nickel from scrap and spent batteries, a by-product of the battery production process.

The firm's technology and competitive edge have been acknowledged with a $50 million investment from Marubeni, a Japanese general trading company.

The MOU enables EcoPro to utilize the extensive US network of its partner to access cost-effective scrap and spent batteries.

This strategic move is aimed at establishing EcoPro's position in the North American lithium-ion battery recycling market.

In response to the US Inflation Reduction Act (IRA), EcoPro intends to proactively secure recycled materials produced from scrap sourced by Cirba Solutions in North America and establish local recycling collaborations.

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