Bin ES Energy Signs Long-Term Battery Recycling Agreement with Recycle Holdings

The agreement further explores the possibility of building a dedicated spoke near the Bin ES manufacturing site, consistent with recycling's strategy of increasing recycling capacity along with customer demand. 

In addition, potential spokes have an opportunity to benefit from growing local demand for lithium-ion battery recycling solutions, driven by strong economic growth and a growing manufacturing presence. 

An investment decision on the dedicated spoke facility is expected to be made in 2025. Recycle, meanwhile, utilizes Recycle's North American spokes network to facilitate the processing of Bin ES materials.

Huang Thuy Linh, CEO of Bin ES, said: “ Battery manufacturing scrap and end-of-life batteries can be recycled into the global mobility and energy storage industries to achieve sustainable supply chains while reducing their environmental impact. We believe it will strongly accelerate both companies' missions to create a sustainable future for people."

Tim Johnston, Co-Founder and Executive Chairman of Recycle, said: “We are delighted to advance our cooperative relationship with Vin ES and become a strategic and long-term recycling partner for all batteries and battery materials produced in Vietnam by Vin ES. It supports our shared goal of building a closed-loop battery supply chain in the United States, and as we continue to strengthen our commercial relationships and expand our innovative and environmentally friendly battery recycling technologies around the world. , advances Recycling's position as the industry's preferred global recycling partner."