On May 28, POSCO HY Clean Metal, joint-stock company of Huayou Recycling Technology Co., Ltd., and South Korea's Jeollanam-do government held a signing ceremony of the investment agreement on recycling and environmental protection of waste batteries at the Jeollanam-do hall. The following personnel attended the signing ceremony, including Jeong Changhwa, director of the new growth department of POSCO, Kim Yeongrok, governor of Jeollanam-do, Kwon Ohbong, mayor of Yeosu, Kim Gyeongho, vice mayor of Gwangyang, Kim Gapseop, director of the free zone of Gwangyang Bay Area Free Economic Zone, Chi Woohwang, CEO of POSCO's joint venture, and Guo Siran, COO of joint venture of Huayou Recycling Technology Co., Ltd.
On May 7, Huayou Recycling Technology Co., Ltd., together with POSCO, one of the Fortune Global 500, has established a joint venture "POSCO HY Clean Metal" in South Korea, in which Huayou Recycling Technology Co., Ltd. holds 35% of the shares. The joint venture company plans to build a hydrometallurgical production line for the recycling of waste batteries in the industrial park of Gwangyangli Village, Gwangyang City, Jeollanam-do, South Korea. It is planned to recycle the waste battery materials from European battery factories in Europe with the production line. They are processed into black powder, which will be imported to South Korea to extract nickel, lithium, cobalt and manganese, the core raw materials of cathode materials, so as to make sulfate products. The first phase project of hydrometallurgical production line can dispose 10,000 tons of black powder every year, and it is planned to expand the production according to the market situation.
Huayou Recycling Technology Co., Ltd., a subsidiary of Huayou Cobalt, is devoted to the comprehensive utilization of waste power batteries, covering the aftermarket service of new energy vehicles, the recycling of waste power batteries, the research and promotion of echelon utilization and the research and promotion of efficient recycling technologies for key materials. With the operation of production line of independent hydrometallurgy for recycling, it has laid a solid foundation for Huayou Recycling Technology Co., Ltd. to build a renewable material system and has taken the lead in achieving green economy model that provides 100% traceable renewable materials in the industry. In addition, with the establishment of a joint venture with POSCO in South Korea, Huayou Recycling Technology Co., Ltd. has opened up the circulation of waste battery recycling generated overseas, thus realizing the global recycling capacity of waste batteries and contributing Huayou's wisdom and strength to the realization of the target of "peaking carbon dioxide emissions and carbon neutralization".