April 29, 2024

• 

(SK Ecoplant)

SK Ecoplant said Tuesday its wholly owned e-waste management affiliate has signed an initial pact with two Japanese companies for partnership in the used battery recycling business.

Singapore-based Total Environment Solution (TES) has signed a memorandum of understanding with Sumitomo Mitsui Finance and Leasing Company (SMFL) and its affiliate SMFL Rental to jointly proceed with used battery recycling projects in Japan, SK Ecoplant said in a statement.

The company expects a combination of TES' advanced battery recycling technologies and the two Japanese firms' sales networks and financial capabilities will help secure used batteries from local electric vehicle and battery makers.

The three companies are planning to build a battery recycling plant in Japan if they secure a stable amount of used batteries and establish sales networks, the statement said.

SK Ecoplant is the construction arm of South Korea's chip-to-battery conglomerate SK Group. (Yonhap)