CHARLOTTE, N.C., Feb. 1, 2024 /PRNewswire/ -- Cirba Solutions, the premier battery recycling and battery materials company, is collaborating with EcoPro Co Ltd ("EcoPro"), a global leader in lithium-ion battery cathode materials, under a signed Memorandum of Understanding ("MOU") to enhance innovative elements of the lithium-ion battery recycling business.
With the growing demand for critical battery materials, strategic alliances play a crucial role as the circular battery supply chain continues to develop around the world. The Inflation Reduction Act is a landmark law aimed at focusing resources on domestic energy production and promoting development of clean energy in the United States. Its enactment is a catalyst for alliances across the lithium-ion battery value chain.
"We are happy to reach this agreement with Cirba Solutions. Their experience in the market for premium recycled materials supports our growth into a closed-loop battery materials supply chain in North America," said Hoirim Jung, Business Strategy Office Leader, Managing Director at EcoPro.
This strategic alliance brings together key leaders in the market focused on a circular battery supply chain. EcoPro will leverage Cirba Solutions recycled materials to produce precursor cathode active material (PCAM) and cathode active material (CAM). PCAM and CAM production is critical to support the growing demand for electric vehicle batteries and requires increased use of recycled content. Cirba Solutions' expansive logistics and collection networks, along with a diversified processing footprint, also are key aspects of this alliance.
"Recycling is a vital component in the value chain and necessary for creating a robust and circular economy for electric vehicle batteries," says Jay Wago, Chief Commercial Officer at Cirba Solutions. "Working with a world-renowned team like EcoPro supports the expansion of an interconnected battery supply chain."
About Cirba Solutions
Cirba Solutions is a premier battery recycling materials and management company using advanced technology to extract critical materials from scrap and used batteries and then supplying those battery-grade metals back into the supply chain. The only vertically integrated team with an operational, differentiated platform and a full suite of capabilities. Creating a circular battery supply chain is critical to ensuring that today's resources are used to their fullest potential. Cirba Solutions combines the resources and expertise of Heritage Battery Recycling, Retriev Technologies and Battery Solutions.
https://www.cirbasolutions.com/
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About EcoPro Co. Ltd
Founded in 1998, EcoPro has focused on the development of eco-friendly core materials and parts related to air pollution control. In 2003, it succeeded in the phased localization of core materials for secondary cells that were highly import dependent. As such, EcoPro has grown by building its foundation in two main areas, environment and secondary battery materials.
In May 2016, EcoPro BM was spun off by means of physical division for specialization in cathode materials. In April 2017, EcoPro Materials was founded to secure a stable supply chain of precursors for EcoPro BM. in May 2021, EcoPro HN was spun off for specialization in air environment business. As it switched to a holding company, it is planning to concentrate on 'discovering new growth engines,' 'establishing ESG management system,' and 'stable financing.'
EcoPro has established a "Closed Loop Eco-System" that integrates all the facilities required for the entire production process, from recycling used batteries (EcoPro CnG) to the production of major raw materials and precursors for cathode materials (EcoPro Materials) and lithium hydroxide (EcoPro Innovation), to the manufacturing of final products, cathode materials (Ecopro BM). This integrated system also includes the supply of high-purity oxygen and nitrogen (Ecopro AP).
SOURCE Cirba Solutions
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