Hyundai Glovis Co., a prominent South Korean shipping and logistics firm, has announced a strategic equity investment in the domestic battery recycling company ER, enhancing its capabilities in the burgeoning field of battery recycling. This investment grants Hyundai Glovis the rights to use ER’s advanced preprocessing technologies and facilities, although the specific financial details and contract terms remain undisclosed as per the agreement between the two parties.
ER, established in 2008, is specialized in the preprocessing of used batteries, particularly from electric vehicles. Its patented technology utilizes a low-temperature vacuum system for processing end-of-life lithium-ion batteries, setting it apart in the industry. Significantly, ER’s technology is environmentally friendly, producing neither wastewater nor carbon dioxide during the preprocessing stage, and also recovers electrolytes.
The recycling process for used batteries consists of two main stages: preprocessing and post-processing. Preprocessing includes discharging remaining power, dismantling batteries, removing impurities, and producing black powder – a key material separated from the cathode. ER’s expertise lies in this crucial initial phase.
Hyundai Glovis’s acquisition of ER’s technology and facilities marks a pivotal expansion in its portfolio. The company is positioning itself as a comprehensive player in the used battery market, capable of collecting, preprocessing, and recycling used batteries. Hyundai Glovis aims to not only utilize ER’s existing technologies but also to continue developing and improving upon them.
In line with this strategy, Hyundai Glovis envisions establishing bases for collecting and processing used batteries in key regions, including Southeast Asia, Europe, North America, and South Korea. This international expansion reflects Hyundai Glovis’s commitment to playing a significant role in the global shift towards sustainable energy solutions, particularly in the EV sector.
This investment by Hyundai Glovis underscores the growing importance of battery recycling in the electric vehicle ecosystem, highlighting both environmental responsibility and the potential for new business opportunities in the green economy.
