Recyclico Battery Materials Inc. (AMYZF)

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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 '.

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