Animosh
2 years ago
Acquisition of S Company, a secondary battery manufacturer, by Sonide, Samsung SDI’s subcontractor
Financial News 2023.04.17 13:47
Sonide, a KOSDAQ-listed company, is considering taking over S, a promising small and medium-sized secondary battery manufacturer. Through this acquisition, Sonid plans to complete the secondary business value chain, such as recovery, recycling (recycling), and reuse (reuse) of waste batteries.
According to the investment banking (IB) industry on the 17th, Sonid is accelerating its final due diligence work to acquire S company. The company that Sonide hired recently received an investment of 60 billion won from an investment institution, and it was reported that Sonid acquired 60-100% of the majority shareholder's stake. The acquisition price is still undecided, but it is known that due diligence will be completed and it will be finalized by the end of this month after full-scale consultations.
https://www-fnnews-com.translate.goog/news/202304171128253899?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=wapp
Animosh
2 years ago
Gomi Energy Delivery, an energy distribution platform company, announced today that it has secured an investment worth KRW 2 billion. The investment was executed through the ‘Lean Energy Investment Fund No. 1’ established by Lean Ventures, the corporate venture capital (CVC) arm of KOSDAQ-listed company SONID.
Gomi Energy currently distributes not only traditional energy such as petroleum but also various eco-friendly energy products nationwide from the four major refineries and suppliers, and its performance has reached a record high. In the second half of last year alone, the company recorded KRW 20 billion and KRW 620 million in sales and operating profit, respectively. This is a 123.1% and 480.3% increase in sales and operating profit from the first half of the same year, respectively. For the whole of last year, the company achieved KRW 29 billion in revenue and KRW 720 million in operating profit.
Gomi Energy said that although international oil prices will continue to fluctuate for the foreseeable future, it expects to continue its earnings growth this year as industrial production has revived since March and the unit price of oil sales has increased.
“As our parent company SONID has declared ESG management, we are preparing to build a waste battery recycling value chain that collects, dismantles, recovers, and recycles waste batteries,” said Kim Young-il, CEO of Lean Ventures, who led the investment. “We will work with Gomi Energy to create synergies in the EV charging business, battery recycling, and ESS-related businesses.”
“Through this investment, we plan to significantly expand new sales outlets and discover new sources of supply this year to strengthen sales growth and profitability,” said Kim Eui-jin, Co-CEO of Gomi Energy. “In the long term, we are also preparing an eco-friendly energy business to meet the growing demand for electric vehicles in collaboration with SONID, the parent company of Lynn Ventures, and will evolve and develop into an eco-friendly oil distribution platform operator.”
https://wowtale.net/2023/02/27/53514/
Animosh
2 years ago
Sonide promotes acquisition of lead-acid battery recycling 'Younghan Metal'
KOSDAQ-listed Sonide (KRW 5,550 ?400 +7.77%) announced on the 24th that it would acquire 'Younghan Metal', a lead-acid battery recycling company capable of preprocessing facilities for secondary batteries. It is expected to become a bridgehead for advancing into the secondary battery waste battery recycling business.
Sonid held a board of directors meeting on the same day and decided to acquire a 100% stake in Younghan Metal for 2.5 billion won. I paid the down payment and the interim payment of 1.8 billion won, and I plan to pay the balance of 700 million won on the 3rd of next month.
With the acquisition of Younghan Metal, it has secured a license for the designated waste comprehensive recycling business, which is essential for the waste battery recycling business, a pre- and post-treatment process business site, and smelting facilities. After the acquisition, it is also establishing a facility expansion plan with a large-scale investment around the existing business site.
Established in 2005, Younghan Metal is equipped with smelting facilities such as battery cutters, reflectors, refiners, casting machines, and dust collectors to process various raw materials. In addition, once the transfer of lithium-ion battery regeneration technology is completed, recycling of NCM (nickel, cobalt, manganese)-based raw materials is also possible.
Due to strengthened environmental regulations, there have been no new licenses for designated waste recycling businesses since 2011. Younghan Metal has had related licenses since 2005. In this regard, the lithium-ion battery recycling business requires a number of environmental licenses, including waste recycling.
The waste battery recycling business is divided into a pre-processing process that produces powder by crushing waste batteries collected from electric vehicles and defective scraps generated during the battery production process, and a post-processing process that produces battery raw materials such as lithium, nickel, and cobalt. .
In this regard, Sonid signed a strategic MOU with Recyclico, a Canadian company that has a closed-loop hydrometallurgy process, and announced its entry into the battery recycling business.
Since then, it has entered the distribution business of small ESS (Energy Storage System) and lithium-ion battery packs in North America through 'ZoneV America', a North American distribution corporation for lithium-ion battery packs, and has also prepared a supply route for raw materials for waste batteries.
In February, it acquired a 50% stake in KSCB Networks, securing a site for a 29,400? business site in Yangsan, Gyeongsangnam-do, while securing a foundation for business expansion through recycling and reuse of lithium batteries.
An official from Sonide said, “With the acquisition of Younghan Metal, which is capable of pre-processing facilities for secondary batteries, we have been able to start the waste battery recycling business in earnest.” ) will be built in collaboration with '.
https://news-mt-co-kr.translate.goog/mtview.php?no=2023032417329619373&type=1&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=wapp
Animosh
2 years ago
Sonide and Recyclico complete joint venture agreement "up to 100% lithium recovery plant speed"
Sonide is accelerating the establishment of an eco-friendly closed-loop hydrometallurgical recycling plant that dismantles waste batteries for the first time in Korea and recovers up to 100% of lithium, nickel, cobalt, manganese, etc.
According to Sonid on the 17th, on the 16th, Canadian waste battery recycling company Recyclico Battery Materials (Recyclico) CEO Zarco Meseldgia and two executives visited the headquarters and said, “Establishment of joint venture and commercial waste disposal.” The coordination of the 'contract containing the contents of the battery recycling plant' was completed. The two companies plan to exchange sealed copies after the executives of Recyclico return to Korea.
Recyclico recovers lithium, nickel, cobalt, cobalt, manganese, etc. by applying a closed-loop hydrometallurgical method to the black mass that dismantles waste batteries and grinds the remaining materials. The closed-loop hydrometallurgical method can reduce carbon dioxide emissions by 62% compared to conventional hydrometallurgical processes.
The company recently collaborated with its research and development (R&D) partner, Chemetco Research, to operate a pilot plant in Vancouver, Canada that can process about 200 tonnes per year, recovering up to 100% of materials such as lithium, nickel, cobalt, and manganese. proved that it can be done. In particular, the lithium carbonate produced in the pilot plant is of high quality that can be immediately used in lithium-ion battery manufacturing.
During their visit to Korea, Recyclico executives held discussions on the establishment of a joint venture with Sonide, visits to business sites and sites, and visited InterBattery 2023, the largest battery industry exhibition in Korea.
A joint venture between Sonid and Recyclico will be established to operate and manage a commercial-scale waste battery recycling plant in Korea. Domestic waste battery recycling plant EPC (design, procurement, construction), operation, and supply and distribution of recycled materials such as metals or precursors to battery or battery material manufacturers.
A company official said, "Based on the joint venture's successful portfolio, we plan to seek additional waste battery recycling business opportunities in Korea and other Asian countries."
To establish a joint venture, Sonide ?Procurement of initial capital ?Distribution of raw materials for waste batteries ?Land and licensing for battery recycling facilities ?Supply of black mass through affiliates equipped with pretreatment facilities for waste batteries ?Recycled products for domestic battery and battery raw material manufacturers Sales and financing for the first commercial battery recycling plant.
Recyclico provides technology and know-how, including licenses and technologies, related intellectual property, operational know-how, and maintenance, necessary for the initial capital raising contribution and construction and operation of a commercial battery recycling plant.
An official from Sonid said, “We expect that the establishment of a domestic joint venture with Recyclico, which aims to build and operate the first commercial battery recycling plant in Korea, will proceed smoothly in the future.” I will try to lead the way," he said.
https://news-mt-co-kr.translate.goog/mtview.php?no=2023031708413091435&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=wapp
Animosh
2 years ago
International Battery Seminar & Exhibit
https://www.internationalbatteryseminar.com/
Tuesday, March 21 4:15 pm
Hydrometallurgical Recycling of Lithium-ion Battery Materials
Zarko Meseldzija, CEO and Director, RecycLiCo Battery Materials
With increasing market share of lithium-ion batteries (LIBs) in the secondary battery market and their applications in electric vehicles, the number of spent LIBs grows daily. This presents a unique business opportunity for recovering and recycling valuable metals from the spent lithium-ion cathode materials. This presentation provides a comprehensive review of the available hydrometallurgical technologies for recycling spent lithium-ion cathode active materials. The aim is to raise awareness of LIB recycling, provide comprehensive knowledge of hydrometallurgical recycling of lithium cathode active materials, and promote an environmentally friendlier hydrometallurgical recycling process
https://www.internationalbatteryseminar.com/battery-recycling#ZarkoMeseldzija
Hydrometallurgical Processes for Recycling Spent Lithium-Ion Batteries
Author: Yonglin Yao, Meiying Zhu, Zhuo Zhao, et al
ISBN 9781032216027, 1032216026
Publication date: February 24, 2023
Publisher: American Chemical Society
Animosh
2 years ago
Sonide Secures Land for Battery Regeneration Plant Business
[Seoul=Newspim] Reporter Lee Young-ki = Sonide (CEO Choi Si-myung) acquired a 50% stake (worth 8 billion won) in KSCB Networks, a chemical product manufacturer with a 36-year tradition, for the purpose of full-scale battery recycling business, and acquired a battery recycling plant ( Post-processing process) announced on the 18th that it had secured a business site.
On the 10th, Sonid signed a strategic MOU with RecycLiCo Battery Materials, which is listed on the US stock exchange, and announced its entry into the battery recycling business in earnest. Through this acquisition of a chemical product manufacturer, the company plans to secure and build a battery regeneration plant site and further materialize the contents of the business agreement between the two companies.
KSCB Networks, acquired by Sonide, is a specialized chemical company that has engaged in chemical product development, manufacturing production, processing, and export/import. In particular, it holds 11 permits and permits for human, material infrastructure and waste treatment related to the chemical field, and is expected to contribute to the promotion of the battery recycling business that Sonide is promoting.
Sonid plans to build and test-operate battery regeneration plant equipment and facilities on the site of KSCB Networks' business site located in Yangsan, Gyeongsangnam-do. The size of the business site is about 10,000 pyeong (29,400 square meters).
Recyclico, which signed a business agreement with Sonide, removes lithium, nickel, and cobalt from waste batteries through a closed-loop hydrometallurgy (hydrometallurgy) method that has been patented in Korea, the United States, Canada, Japan, India, and China. It has the technology to recover more than 99% of manganese. By shortening the extraction process of recycled materials, cost can be drastically reduced, and the amount of carbon dioxide generated in the extraction process can be reduced by more than 60% compared to the existing method.
Recyclico plans to install and operate pilot battery recycling plants around the world. Last year, it also passed a test to actually produce batteries by supplying recycled battery materials to C4V, a US battery cell manufacturer.
Choi Si-myung, CEO of Sonid, said, “Through this acquisition, it was possible to secure a site for a pilot project of a battery recycling plant. We plan to start working on it," he said.
CEO Choi added, "Securing the site for this business means that Sonide's battery recycling business has entered the next stage."
https://m.newspim.com/news/view/20230118000810
Animosh
2 years ago
In March of this year, the management of RecycLiCo Battery Materials, a Canadian waste battery recycling company listed on the US stock exchange, will visit the Sonide mass production plant and conduct a preliminary inspection for plant facility construction. Sonid signed a strategic business agreement with Recyclico in January of this year and announced its entry into the waste battery recycling business.
The Yangsan plant secured by Sonid is a post-processing site of about 10,000 pyeong, and secondary battery recycling and battery regeneration plants are scheduled to be built. The post-processing facility will be implemented with Recyclico's latest technology.
https://m.newspim.com/news/view/20230303000373
Animosh
2 years ago
With the expansion of lithium-ion battery market and the awareness of environmental protection, the development of green and sustainable technologies to recycle waste lithium-ion batteries has become urgent. Electrodialysis is an emerging green process to recover valuable metals from postconsumer lithium-ion batteries. This study focuses on the separation and recovery of lithium, nickel, manganese, and cobalt from LiNi0.33Mn0.33Co0.33O2 chemistry of lithium-ion batteries using electrodialysis. Prior to the electrodialysis experiment, complexation of ethylenediaminetetraacetic acid (EDTA) with four different metals is assessed using ultraviolet-visible spectroscopy. Using the developed three-stage electrodialysis process, 99.3% of nickel is separated in stage 1 and 87.3% of cobalt is then separated in stage 2 using electrodialysis coupled with EDTA. About 99% of lithium is sequentially separated from manganese in stage 3 using electrodialysis with a monovalent cation-exchange membrane. After the electrodialysis experiment, nickel and cobalt are decomplexed from EDTA at pH below 0.5 and all four metals are recovered with high purity of >99%. Electrodialysis offers a new route to recycle lithium-ion batteries with twofold benefits of providing a secondary source for strategic materials and reducing the number of lithium-ion batteries that are landfilled after they reach their end of life.
Animosh
2 years ago
Korean Cathode Material Companies Growing Fast
February 3, 2023, 13:36
Korean companies are expanding their presence in the global cathode materials market. Cathode materials are a major strategic item that accounts for 40 to 50 percent of electric vehicle (EV) battery costs. Analysts say that Korean companies are closely trailing Japan’s Sumitomo, the world's largest cathode materials producer.
Korea’s leading cathode material companies, including LG Chem, POSCO Chemical, EcoPro BM and L&F, posted stellar business performances last year.
http://www.businesskorea.co.kr/news/articleView.html?idxno=108778
Animosh
2 years ago
The International Academy of Electrochemical Energy Science
Board Committee Members Won Silver Medal in the International Exhibition of Inventions of Geneva 2022
Sincerest Congratulations to Board Committee Members, Joey Jung, Jiujun Zhang, Pang-Chieh Sui and the team on Inventions Geneva Medal.
Board Committee Members, Joey Jung, Jiujun Zhang, Pang-Chieh Sui and the team, were awarded Silver Medal of the International Exhibition of Inventions of Geneva 2022 for their invention of "A Closed-loop Recycling System of Cathode Matrerials from Spent Lithium-Ion Batteries".
The International Exhibition of Inventions of Geneva 2022 is one of the most significant global annual events devoted exclusively to inventions. Around 800 inventions from 25 countries were evaluated by international jury of specialists.
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