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Umicore plans to ramp up EV battery recycling capacity - Mr Marc Grynberg

Auto News - Published on Tue, 07 Aug 2018

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Reuters reported that Belgian materials technology group Umicore is planning to invest in ramping up its recycling capacity over the next decade in line with rapid growth in the electric vehicle market. Mr Marc Grynberg said during a media briefing that "We are preparing to make investment choices and decisions in the first part of the next decade because we will have to be ready with larger industrial scale recycling facilities than we have today sometime around the mid-2020s. Today we have a capacity of about 7,000 tonnes of spent batteries. that would correspond to the recycling of about 150,000-200,000 EV batteries."

Mr Grynberg said that "If you make assumptions about what the market may be 10 years down the road, knowing that this year probably more than 2 million EVs and plug-in EVs will be sold, then you have an idea about the scaling up factor that will be required."

Mr Grynberg said so-called 'second life' applications, where EV batteries are reused for tasks like storing power for homes and offices, would not have an effect on recycling demand.

Mr Grynberg said that "We've always said that this is going to be a niche application for some residential energy storage because the economics wouldn't work for a utilities-scale project of energy storage, nor for grid regulation"

Mr Grynberg also said plans to launch cash-settled contracts for lithium and cobalt by the London Metal Exchange are "irrelevant" as most suppliers are not interested in participating.

The International Energy Agency expects numbers of electric vehicles on roads worldwide to be around 40 times higher in 2030 than in 2017, leading to a sharp rise in spent batteries becoming available for recycling.

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Posted By : Nanda Koijam on Tue, 07 Aug 2018
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