South Korean waste manager IS Dongseo has acquired BTS Technology, a battery recycling specialist with operations in Poland, Slovakia and Hungary.
According to the Korean Economic Daily, the deal is worth 37.5 billion won (EUR 26 million) and secures Dongseo a 79.2% stake in BTS Technology which was established in 2007. An EV battery facility is being constructed in Poland and BTS expects a processing capacity of 150 000 tonnes by 2030. It is situated close to LG Energy Solution’s battery manufacturing facility and on land with scope for expansion.
The BTS website says EV battery recycling is its distinctive expertise. ‘We understand the necessity of sustainable energy solutions in our rapidly advancing technological landscape. To this end, our robust and innovative processes are meticulously designed to ensure proficient and sustainable battery recycling methodologies.’
On its own website, IS Dongseo says it has ‘laid the foundation for establishing a global value chain for the waste battery business as well as domestically’.