Four companies to launch power battery recycling projects 01-26-2024

Summary: In early Jan. 2024, four companies agreed to contracts for Li-ion battery recycling projects.

Since the related subsidies were implemented in 2009, China has seen an increase in the number of alternative energy vehicles (AEVs) sold annually. In 2023, sales reached 9.50 million units, setting a new record. However, based on the eight-year service life of power batteries, about 1.30 million pure electric vehicles (PEVs) were trashed in 2022. If one were to compute the average battery capacity of each PEV (60KWh), this would equate to roughly 78GWh of power batteries that would need to be recycled and processed. In 2024, this number will still be rising. Because of resource limitations and national regulations for environmental protection, recycling waste batteries is particularly crucial. All things considered, the market for battery recycling appears to have great potential.

 

In late Dec. 2023 and early Jan. 2024, four enterprises, ranging from the sector's upstream to downstream, provided updates on the progress of their Li-ion battery recycling project.

 

On 12 Jan., 2024, GEM Co., Ltd. (GEM) announced that its holding subsidiary Wuhan Power Battery Regeneration Technology Co., Ltd. (Wuhan Power) would sign a Strategic Cooperation Agreement with REPT BATTERO Energy Co, Ltd., whereby the latter would process retired or used power batteries generated from the affiliate's global supply chain.

 

On 10 Jan., 2024, Zhejiang Yinglian Lithium New Energy Technology Co., Ltd. and Rhenus Automotive Group in Germany entered into a cooperation agreement, regarding a Li-ion battery industrial chain project. The project includes Li-ion battery recycling and lithium salt production and processing.

 

On 3 Jan., 2024, the environmental impact assessment (EIA) report for Hefei Yuanxin Recycling Technology Co., Ltd.'s 50GWH/a battery recycling project was approved and published.

After construction is finished, the project will have the following capacity:

  • 50GWH/a utilisation capacity of retired Li-ion batteries (which can process 350,000 t/a of retired LFP batteries and 20,000 t/a of positive and negative electrode sheets annually)
  • After resource utilisation, the retired Li-ion batteries will be used to produce roughly 170,000 t/a of battery-grade iron phosphate, roughly 27,000 t/a of battery-grade lithium carbonate, and roughly 80,000 t/a of anhydrous sodium sulphate, along with approximately 66,000 t/a of graphite, approximately 28,000 t/a of copper and copper powder, approximately 80,000 t/a of aluminum and aluminum powder, and approximately 15,000 t/a of positive and negative electrode powders as by-products
  •  

    On 27 Dec., 2023, the EIA report of Anhui Jifeng Vehicle Recycling Co., Ltd.'s power battery ladder utilisation & physical regeneration project (phase I) was approved and made public.

    The following are project highlights:

  • New facilities: pretreatment and testing equipment, dismantling lines for waste power storage battery packs and modules, a module line and PACK line for square aluminum shell battery cells, grading and testing equipment
  • Ladder utilisation capacity (phase I): 600MWH/a of batteries
  •  

    A few other power battery recycling projects were either signed or put into action.

     

    The domestic battery recycling market is still in disarray and is primarily dominated by small workshops, even though new Li-ion battery recycling projects are being reported one after another. In Dec. 2023, the Ministry of Industry and Information Technology of the People's Republic of China (MIIT) issued a consultation paper titled Administrative Measures for the Comprehensive Utilization of Power Batteries for New Energy Vehicles. It specifies the responsibilities of automakers, battery manufacturers, and echelon utilisation enterprises with regard to the integrated use of power batteries. Small workshops will be eliminated and the industry will be regulated in the future due to the growing quantity of retired batteries and improved industry laws and policies. Meanwhile, the battery recycling market will keep growing, supporting the sustainable development of China's new energy sector.

    Source:CCM

    More infomration can be found at CCM Li-ion Battery China Monthly Report.


    About CCM:

    CCM is the leading market intelligence provider for China’s agriculture, chemicals, food & feed and life science markets. Founded in 2001, CCM offers a range of content solutions, from price and trade analysis to industry newsletters and customized market research reports. CCM is a brand of Kcomber Inc.

     
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