Yulho and Aqua Metals entered into a partnership to collaborate on building a lithium-ion battery recycling plant in South Korea and more. Yulho will invest USD5 million in Aqua Metals by early August this year, becoming the second largest shareholder of Aqua Metals. Further investment is considered for setting up a joint venture and expanding overseas. The partnership also includes a definitive license agreement whereby Yulho applies Aqua Metals’ post-treatment technology, the AquaRefining™, at its plant planned in South Korea.
Yulho is expected to recover materials using Aqua Metals’ post-treatment technology
With Aqua Matals’ electro-hydrometallurgical technology, Yulho Materials will expand its battery recycling business covering both pre- and post-treatment processes. Aqua Metals reported that the initial licensing agreement is expected to allow for up to 100,000 tonnes of materials processed annually in South Korea.
In June 2023, Aqua Metals announced it completed the Li AquaRefining™ pilot line in Nevada, US, recovering lithium hydroxide, cobalt and manganese dioxide, nickel and copper.