SEATTLE (Recycling Monster): South Korea-based SK Ecoplant Co. and its two affiliates have decide to launch a battery recycling joint venture in the US. SK Group signed a joint venture agreement (JVA) with U.S.-based li-ion battery recycling firm Ascend Element Inc. and Singapore-based e-waste recycling firm TES Envirocorp Pte. The JV project will be 64% owned by SK Ecoplant, 25% by Ascend Elements and 11% by TES.
The signing ceremony was held in Seoul- the capital city of South Korea. It was attended by Kyung-il, Chief Executive, SK Ecoplant and Michael O’Kronley, CEO, Ascend Elements. Terence Ng, Chairman, TES was present via video conferencing.
As per the agreement, the three companies will jointly build a pre-treatment facility in Hopkinsville, Kentucky. The construction of the facility will begin in November this year, will the plant expected to reach full operations by January 2025, said the company press release by SK Ecoplant.
The facility is strategically located in Kentucky- the emerging battery belt of the U.S. The presence of several leading global battery makers of the world will ensure smooth supply of scrap from discarded batteries.
Upon completion, the facility will process spent lithium-ion batteries to produce approximately 12,000 tons of black mass per year.
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