Elemental Metals, Ascend Elements Launch EV Battery Recycling Venture
The newly inaugurated facility will operate under a 50/50 ownership structure.
April 12, 2024. By Abha Rustagi
The newly inaugurated facility will operate under a 50/50 ownership structure. With a focus on disassembly, discharge, and shredding, the plant is geared to yield black mass - a crucial raw material for manufacturing advanced EV battery components, including cathode active material (CAM) and cathode precursor (pCAM).
Projected to handle up to 12,000 metric tons of batteries annually, equivalent to approximately 28,000 EV batteries, the facility represents a key step towards sustainable battery production. Moreover, both partners have committed to collaborative investments in large-scale lithium extraction from black mass, with capabilities to process up to 20,000 metric tons per year slated to commence construction in Fall 2024, set to be operational by 2026.
In addition to their endeavors in Poland, Elemental Strategic Metals and Ascend Elements have set their sights on Germany, where plans are underway for the construction of a cutting-edge EV battery recycling facility. Anticipated to be operational in the near future, the facility will boast a recycling capacity of up to 25,000 metric tons annually, further solidifying AE Elemental's position as a frontrunner in sustainable battery solutions.
Commenting on the strategic alliance, Pawel Jarski, CEO of Elemental Holding, remarked, "Our partnership with Ascend Elements is more than just a strategic move into the battery recycling industry, it is a transformative step towards becoming a key player in the battery materials industry." He added, "The combination of Ascend Elements' cutting-edge technology with our recycling expertise, large collection network, recycling platform, and global footprint puts AE Elemental in a pole position in this evolving market."
Echoing Jarski's sentiments, Mike O'Kronley, CEO of Ascend Elements, emphasized the significance of the venture, stating, "The AE Elemental JV is a significant milestone for Ascend Elements, representing our first commercial-scale battery recycling facility in Europe." O'Kronley added, "Expanding into Europe will allow us to better service our customers locally and help the industry comply with new EU rules requiring recycled material in new batteries. This is a perfect time to expand our operations."
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