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The manufacturing of large batteries is increasing to power EVs. Companies that recycle batteries receive a lot of funding, but it’s also crucial to consider how these businesses obtain the batteries they’ll be recycling.
EV batteries have a lifespan of 10 to 13 years, so even while they might not be ready for mass recycling just yet, we know it’s coming. To accommodate this need, businesses all around the world are already investing in recycling facilities.
The Taiwan EV battery recycling market accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2029, registering a CAGR of XX% from 2024 to 2030.
Umicore announces the signing of a contract for battery recycling services for the requirements of the ACC pilot plant with Automotive Cells Company (ACC). With its battery recycling facility, Umicore is a pioneer in the recycling of rechargeable batteries.
The most recent version of Umicore’s unique recycling technology will be unveiled. This technology represents a considerable improvement in recycling performance with an optimum working window for EV batteries as a result of extensive research and piloting operations, demonstrating:
Cobalt, nickel, and copper extraction efficiency has grown significantly in the metallurgical process, resulting in a current output of over 95% for a range of battery chemistries.
A first-of-its-kind method to recover the majority of the lithium, resolving a major issue with the current recycling flowsheets, and streamlined material flow reducing manual handling will help the process be more resilient and effective.
At the conclusion of the Umicore recycling process, the recovered metals will be provided in battery-grade purity, enabling them to be used again in the creation of new Li-ion batteries.