September 15, 2023
AJ Networks and Youngpoong Collaborate to Build a European Supply Chain for Secondary Battery Recycling
- MOU on 'Strategic Collaboration in Battery Recycling' signed at Youngpoong's headquarters on the 14th
- Expanding GVC (Global value Chain) for secondary battery recycling in Europe
On the 14th, at the headquarters of Youngpoong in Gangnam-gu,
Seoul, Park Dae-hyun, CEO of AJ Networks Logistics Division (photo right), and Young-min Park, CEO of Youngpoong
after signing a memorandum of understanding (MOU) on strategic collaboration in the global value chain of secondary battery resource recycling.
AJ Networks announced on the 15th that it has signed a strategic business agreement (MOU) with Youngpoong on the establishment of a global value chain for secondary battery resource recycling.
Through this agreement, the two companies will work to promote the commercialization of secondary battery recycling and establish a full-cycle supply chain. The core of the collaboration is to build a battery circular economy system by producing battery materials through a dry-wet integrated resource recycling process, while AJ Networks will be responsible for the transportation, storage, and logistics of secondary battery recycling materials such as used batteries and process scrap generated in Europe.
The dry-wet integrated resource recycling process is the world's first resource recycling technology that captures and recovers lithium (Li) in a dry manner and then recovers minerals such as nickel (Ni), lithium (Li), cobalt (Co), and copper (Cu), which are key materials for secondary batteries, by wet processing the concentrated intermediate raw materials. It is an innovative recycling process that utilizes the anode and cathode materials in input materials such as used batteries as a heat source and does not use fossil fuels, reducing carbon emissions by 20 to 33% compared to mining.
To this end, the two companies will establish a cooperative system for the transportation and pretreatment of used batteries and process scrap in Europe, and actively cooperate to build a cooperative relationship in the local battery sector and secure a stable supply chain. In addition, they will work together to strengthen the competitiveness of raw materials, pretreatment and logistics businesses that comply with the European Critical Raw Materials Act (CRMA) regulations.
Meanwhile, AJ Networks established its secondary battery business in Europe by establishing a Polish-Hungarian subsidiary last year. With the signing of this MOU, the company will expand its business scope to include resource recycling logistics in addition to battery packaging container development and logistics services.
"We will proactively respond to the global challenge of recycling scarce resources for secondary battery production," said Dae-hyun Park, CEO of AJ Networks Logistics. "Through this strategic collaboration with Youngpoong, we plan to strengthen our business competitiveness in recycled battery logistics in Europe."
September 15, 2023
AJ Networks and Youngpoong Collaborate to Build a European Supply Chain for Secondary Battery Recycling
- MOU on 'Strategic Collaboration in Battery Recycling' signed at Youngpoong's headquarters on the 14th
- Expanding GVC (Global value Chain) for secondary battery recycling in Europe
On the 14th, at the headquarters of Youngpoong in Gangnam-gu,
Seoul, Park Dae-hyun, CEO of AJ Networks Logistics Division (photo right), and Young-min Park, CEO of Youngpoong
after signing a memorandum of understanding (MOU) on strategic collaboration in the global value chain of secondary battery resource recycling.
AJ Networks announced on the 15th that it has signed a strategic business agreement (MOU) with Youngpoong on the establishment of a global value chain for secondary battery resource recycling.
Through this agreement, the two companies will work to promote the commercialization of secondary battery recycling and establish a full-cycle supply chain. The core of the collaboration is to build a battery circular economy system by producing battery materials through a dry-wet integrated resource recycling process, while AJ Networks will be responsible for the transportation, storage, and logistics of secondary battery recycling materials such as used batteries and process scrap generated in Europe.
The dry-wet integrated resource recycling process is the world's first resource recycling technology that captures and recovers lithium (Li) in a dry manner and then recovers minerals such as nickel (Ni), lithium (Li), cobalt (Co), and copper (Cu), which are key materials for secondary batteries, by wet processing the concentrated intermediate raw materials. It is an innovative recycling process that utilizes the anode and cathode materials in input materials such as used batteries as a heat source and does not use fossil fuels, reducing carbon emissions by 20 to 33% compared to mining.
To this end, the two companies will establish a cooperative system for the transportation and pretreatment of used batteries and process scrap in Europe, and actively cooperate to build a cooperative relationship in the local battery sector and secure a stable supply chain. In addition, they will work together to strengthen the competitiveness of raw materials, pretreatment and logistics businesses that comply with the European Critical Raw Materials Act (CRMA) regulations.
Meanwhile, AJ Networks established its secondary battery business in Europe by establishing a Polish-Hungarian subsidiary last year. With the signing of this MOU, the company will expand its business scope to include resource recycling logistics in addition to battery packaging container development and logistics services.
"We will proactively respond to the global challenge of recycling scarce resources for secondary battery production," said Dae-hyun Park, CEO of AJ Networks Logistics. "Through this strategic collaboration with Youngpoong, we plan to strengthen our business competitiveness in recycled battery logistics in Europe."