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Ecobat Acquires European Lithium-Ion Recycler
Tuesday 27 July 2021

US-based battery recycler Ecobat has acquired German EV lithium-ion battery recycling operator Promesa, the company said.

The demand for EV lithium-ion battery recycling continues to accelerate across Europe and the world, and it is expected to be worth USD 4.7bn in 10 years.

Promesa's location in the vehicle manufacturing and lithium battery center of Germany provides Ecobat a crucial entry point in one of the most critical markets for battery access and OEM factory scrap.

The EV Li-ion battery recycling is growing in Europe at a compound annual growth rate of 31.6%.

Additionally, Promesa represents a critical part of the battery recycling process and value chain and will provide Ecobat with access to business-critical permits for 3,200 tons of chemical compounds.

These contracts cover a range of waste materials associated with a variety of battery chemistries from household to electric vehicle, positioning Ecobat for expansive growth opportunities.

Ecobat is in the collection, recycling, production, and distribution of energy storage resources essential to modern life.

From the batteries used in vehicles and renewable energy infrastructure to the backup power systems that support hospitals and data centers, the materials we recycle and produce are essential components in the technologies developed to meet the world's energy storage needs.

Promesa GmbH and Co. KG is headquartered in Hettstedt, Germany and was founded by VVG GmbH and Co. KG for the treatment and recycling of lithium battery systems.
Date Published: 27/07/2021