The Hottest Battery Recycling Company in the US Ventures into Europe
The Hottest Battery Recycling Company in the US Ventures into Europe
Elemental Strategy Metals of Zawiercie, Poland, and Ascend Elements of Massachusetts, USA, announced today the establishment of a joint venture company, AE Elemental™, headquartered in Zawiercie, Poland. The two companies will jointly own (with a 50/50 shareholding) and operate a state-of-the-art electric vehicle battery recycling facility newly built in Zawiercie, Poland. The advanced facility will dismantle, discharge, and shred electric vehicle batteries, producing battery materials including Cathode Active Materials (CAM) and preCathode Active Materials (pCAM). The facility is capable of recycling up to 12,000 metric tons of batteries annually, equivalent to approximately 28,000 electric vehicle batteries per year.
AE Elemental™
The two joint venture partners have agreed to jointly invest in large-scale lithium extraction from battery waste. A factory with a lithium extraction capacity of up to 20,000 metric tons of battery waste per year will begin construction in the fall of 2024 and is expected to commence operations in 2026. Additionally, the two companies plan to commence the construction of a new, state-of-the-art electric vehicle battery recycling facility in central Germany. The AE Elemental facility in Germany will be capable of recycling up to 25,000 metric tons of batteries annually, equivalent to approximately 58,000 electric vehicles.
Ascend Elements CEO Mike O’Kronley stated, "The AE Elemental joint venture represents a significant milestone for Ascend Elements, marking our first commercial-scale battery recycling facility in Europe. We are excited to collaborate closely with Elemental Strategy Metals. Expanding into Europe will enable us to better serve local customers and assist the industry in complying with new EU regulations requiring the use of recycled materials in new batteries. Now is the opportune time to expand our business."