LITHION-RECYCLING
Lithion Recycling, Inc. (“Lithion”) is proud to announce it has reached an agreement with IS Dongseo Company Ltd (“ISD”), a Korea-based leading ESG company with an environmental business segment, for an exclusive business right for the use of its lithium-ion battery recycling technology on the Korean market.
This partnership is the first of a series that Lithion aims to conclude in upcoming years for the use of its cutting-edge, eco-friendly technology on world markets. It will allow ISD to offer an environmentally friendly and cost-effective recycling solution to close the loop on battery materials in Korea. IS Dongseo plans to start building its first Korean facility capable of processing about 7,500 tons of waste batteries per year (or the equivalent of approximately 20,000 electric car batteries), this year. This first phase will be followed by a second one, with the construction of a hydrometallurgy plant based on Lithion’s technology, allowing ISD to supply over 15,000 tons of battery-grade materials per year.
“We are extremely proud to announce our first strategic partnership and licensing agreement with such a strong partner as IS Dongseo, an experienced battery recycling plant operator firmly rooted in the Korean market. This exclusive agreement confirms the high potential of the technology and the business model we have been developing over the years and will enable the use of our “Spoke” and “Hub” technologies on a major market for the lithium-ion battery sector. Our licensing strategy will ensure a rapid deployment of our technology globally since we are leveraging local and regional forces rather than developing and operating all plants by ourselves. This is a very exciting milestone in our quest for providing sustainable, cost-effective and locally-adapted solutions for recycling lithium-ion batteries around the globe.”
– Benoit Couture, President and CEO of Lithion Recycling, Inc.
“Recognizing that Lithion has the best battery recycling technology and following a thorough technology diligence, we are delighted to partner with them to secure full competitiveness in the battery and battery waste recycling. Korea is home base to many important and dynamic actors in the lithium-ion battery and battery materials supply chain. As these companies are rapidly expanding in Asia, in the United States and in Europe, our partnership with Lithion opens up tremendous global growth opportunities for both of us.”
– Jeon, Hyung Joon, Battery Recycle Business Director of IS Dongseo Company Ltd
The need for lithium-ion battery recycling is growing exponentially and Lithion’s commercial plants have scalable capacities to adapt to market size. Because the volume of batteries at the end of their life is spread worldwide, Lithion is planning large-scale international deployment, which will be achieved by granting licenses to strategic operating partners. The goal is to commission over 25 battery recycling plants based on Lithion’s technology in the next 15 years in cities and jurisdictions where the need is most urgent.
This is the second major announcement for Lithion in two days. On January 24, the company announced it has reached financial close on a significant first tranche of a Series A financing for up to $125 million that will be invested in the construction of its first lithium-ion battery recycling plant and a state-of-the-art Technology Development Center in Quebec, Canada as well as bringing its hydrometallurgy technology plant to breaking ground.
About Lithion Recycling, Inc.
Lithion has developed an efficient and cost-effective process to recover strategic materials from end-of-life and product waste of lithium-ion batteries. Lithion’s process allows up to 95% of battery components to be recovered and treated so that they can be reused by battery manufacturers, enabling to close the lifecycle in batteries. This technology accelerates the transition to green energy and helps meet decarbonization targets by reducing pressure on natural resource extraction. This year, Lithion launches its first commercial recycling operations, drawing on data from a highly successful Quebec industrial-scale demonstration plant commissioned in January 2020. Its goal is worldwide deployment, through licensing agreements, with a target of 20 recycling plants on a world scale. For more information, please visit: https://www.lithionrecycling.com/
About IS Dongseo Company Ltd
Established in 1975, IS Dongseo has been a leading construction group in South Korea. Over 1,000 employees and executives in the construction and manufacturing divisions are maximizing the synergy by the deployment of cutting-edge technology and the cooperative initiatives in each field. IS Dongseo is expanding in the global market by diversifying its business through entry into environment business, maritime transport and other sectors. Aligned with industry leading affiliates like Insun and KR energy and others, IS Dongseo is expanding its business territory into recycling business dealing with ESG issues. For more information, please visit: http://isdongseo.co.kr/en/
View source version on businesswire.com: https://www.businesswire.com/news/home/20220125005335/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Andersen Consulting samarbejder med Mercurial Minds om at forbedre mulighederne inden for digital transformation4.7.2025 01:10:00 CEST | Pressemeddelelse
Andersen Consulting udvider sit udbud af teknologidrevne løsninger med tilføjelsen af samarbejdsfirmaet Mercurial Minds (M.M.), et konsulentfirma inden for digital transformation, AI og IT med base i Pakistan. M.M. blev grundlagt i 2013 og tilbyder en række tjenester, der er designet til at hjælpe organisationer med at udvikle sig og skalere, herunder i forbindelse med deres digitale transformationsstrategi, AI-tjenester, it-rådgivning og udvikling af robuste mobil- og webbrugeroplevelser. Firmaet leverer end-to-end-løsninger – udformning af datadrevne køreplaner, udvikling af intelligent automatisering og levering af sikre mobil- og weboplevelser, der kan skaleres – skræddersyet til virksomheder, der ønsker at forbedre sine forbindelsesmulighederne og opnå indsigter i realtid. M.M. betjener en bred vifte af brancher med fokus på finans, telekommunikation og andre dataintensive sektorer. "Dette samarbejde er en katalysator," siger Nabeel Saiyer, administrerende direktør for M.M. "Vores
Global Tourism Surging Ahead of Economic Growth, With Visits to Hit 30 Billion by 20344.7.2025 01:00:00 CEST | Press release
The World Economic Forum report, in collaboration with Kearney and the Ministry of Tourism Saudi Arabia, predicts a significant uptick in tourist trips across the globeThe tourism sector will contribute $16 trillion to global GDP (more than 11% of the global economy) by 2034, according to World Travel & Tourism Council estimates (WTTC)India and China will be responsible for more than 25% of all outbound travel by 2030 The World Economic Forum has today published a new report forecasting that the travel and tourism industry is projected to serve 30 billion tourist trips by 2034. Travel and Tourism at a Turning Point: Principles for Transformative Growth, produced in collaboration with Kearney and the Ministry of Tourism Saudi Arabia, reveals a projected $16 trillion contribution to global GDP by the same year—representing more than 11% of the total world economy, according to World Travel & Tourism Council estimates. The report also found that the sector is expanding 1.5 times faster th
The 2025-2026 World Branding Awards Animalis Edition Honouring Leading Pet and Animal Brands Globally3.7.2025 21:00:00 CEST | Press release
The 2025-2026 World Branding Awards Animalis Edition marked its fifth instalment, bringing together leading pet and animal brands from all around the world. These brands were celebrated for their outstanding achievements, earning recognition as National, Regional, and Global Winners. The awards ceremony, held at Vienna's prestigious Hofburg Palace, welcomed winners across diverse categories, including pet food, retail, wellness, pet exhibitions, and aquatic products. Mounia Berrada-Gouzi expertly hosted the evening, which culminated in a grand celebration of brand excellence. “The Animalis Edition of the World Branding Awards recognises brands that have achieved the highest distinction—genuine recognition in the hearts and minds of consumers. Tonight, we honour those whose names resonate globally, whose values inspire loyalty, and whose presence defines excellence in the pet and animal industry,” said Richard Rowles, Chairman of the World Branding Forum. Out of over 950 brands nominate
Venture Global Announces 20-Year Sales and Purchase Agreement with PETRONAS3.7.2025 14:59:00 CEST | Press release
Today, Venture Global, Inc. (NYSE: VG) announced the execution of a new 20-year Sales and Purchase Agreement (SPA) with PETRONAS LNG Ltd. (PLL), a subsidiary of the Malaysian state-owned oil and gas company, PETRONAS. Under the terms of the SPA, PETRONAS will purchase 1 million tonnes per annum (MTPA) of liquefied natural gas (LNG) from Venture Global’s third facility, CP2 LNG, for 20 years. This builds upon Venture Global’s existing agreement with PETRONAS for 1 MTPA of LNG supply from Plaquemines LNG. PETRONAS, a world-class partner in the LNG industry, joins other CP2 LNG customers in Europe, Asia and the rest of the world in a strategically important project to global energy supply and security. To date, approximately 10.75 MTPA of the 14.4 MTPA nameplate capacity for CP2 Phase One has been sold. About Venture Global Venture Global is a long-term, low-cost provider of U.S. LNG sourced from resource rich North American natural gas basins. Venture Global’s business includes assets ac
Frost & Sullivan Recognizes Novotech as 2025 Global Biotech CRO Company of the Year3.7.2025 14:05:00 CEST | Press release
In recognition of its innovation, client-focused delivery, and global impact, Novotech has been awarded the 2025 Global Biotechnology Contract Research Organization (CRO) Company of the Year by Frost & Sullivan. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250703950144/en/ Novotech Wins Global CRO Award Novotech is a globally recognized full-service clinical CRO and scientific advisory firm, trusted by biotech and small- to mid-sized pharmaceutical companies to advance their drug development programs at every phase. With a global footprint spanning Asia-Pacific, North America, and Europe, Novotech supports over 5,000 clinical trial sites and a distributed team of experts delivering seamless, end-to-end solutions across geographies. “Novotech is redefining biotech-focused clinical research through AI-driven innovation, global expansion, and a client-embedded partnership model. With a clear vision to be the CRO of choice for
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom