Resource Circulation Business

End-of-life battery recycling business overview

The market is expanding globally as great efforts are being made to expand the distribution of electric vehicles to achieve carbon neutrality early. According to statistics from LMC Automotive Research, global electric vehicle sales in 2022 will reach approximately 7.8 million units. This means that one out of 10 new cars sold worldwide is an electric vehicle. This trend is expected to increase exponentially by 2035, when the complete phase-out of internal combustion engines takes effect. This means that as the number of vehicles increases, the number of waste batteries also increases, and waste batteries can become an environmental problem if they are not recycled or reused in the right way. Additionally, recovering expensive metals contained in waste batteries can create high economic value in the circular economy.

The waste battery recycling business, which has such environmental and economic benefits, has the same eco-friendly and economic benefits that Won Kwang S&T Co., Ltd. Aims for in its solar energy waste module business. In addition, since the solar waste module recycling pre-treatment process and post-treatment process have a very similar structure, it is expected that it will be easy to enter the secondary battery recycling business and create a synergy effect by utilizing the company’s own solar waste module recycling pre-treatment technology and equipment know-how. Won Kwang S&T Co., Ltd. aims to become a company specializing in the pretreatment of future waste resources by establishing a secondary pretreatment process called future waste resources, such as EOL PV module recycling pretreatment process.

*Future waste resources: solar power waste panels / waste electric vehicle batteries (secondary batteries) / Others: wind turbines (blades), renewable energy waste, LED, drones, etc.