February 14 (SeeNews) - Bulgarian battery manufacturer Monbat [BUL:MONB] said on Tuesday that its Italian subsidiary STC and US-Singaporean ACE Green Recycling signed a memorandum of understanding to look into developing battery recycling facilities and equipment supply.
Under the agreement, STC - an engineering, procurement and construction company, will build battery recycling facilities using a combination of its proprietary technology along with ACE’s Scope 1, or mandatory for reporting, emissions-free technologies for recycling lead-acid and lithium-ion batteries, Monbat said in a statement.
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The two parties will also look into opportunities for licensing and co-marketing their integrated battery recycling technologies.
The partnership is part of Monbat's strategy to develop a vertically integrated business model across the entire supply chain, from extracting raw materials for recycling through the logistics of supply to the recycling facilities and the process of extracting lead, lead alloys and polypropylene to the production and sale of batteries on the market, the Bulgarian group said.
The potential collaboration will deploy STC's expertise in equipment manufacturing and large-scale project management alongside ACE's battery recycling technology.
Headquartered both in the US and Singapore, ACE Green Recycling has come up with an entirely electricity-powered hydrometallurgical process which aims to facilitate the sustainable production of battery materials while cutting greenhouse gas emissions. The company, which claims to be building North America's largest emissions-free and sustainable battery recycling park in Texas, is also developing clean technology solutions for other metallic waste streams.
"We hope the synergies between ACE and STC will help the battery recycling industry further improve recycling efficiencies and reduce environmental impacts, while ensuring reliable quality and lower costs in accordance with circular economy principles," STC chief executive Giorgio La Sala said in the statement.
Monbat acquired 66.66% of STC in 2019 to extend its services to electrolyte recovery, heavy and light plastics separation and recycling, and hydrometallurgical conversion of lead paste in lead oxide, among others. STC is working on a lead-acid battery recycling plant to be installed at the site of Tunisian Company of Batteries NOUR, in which Monbat bought a 60% stake for 10.3 million euro ($11.1 million) in 2022.
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