LANCASTER, Ohio--(BUSINESS WIRE)--Retriev Technologies, a global leader in battery recycling and management, is pleased to announce their first volume shipment of recovered battery materials to Marubeni Corporation under the umbrella of their newly formed Strategic Partnership. In February 2021, Marubeni Corporation (Marubeni) and Retriev Technologies Inc. (Retriev) announced a Strategic Partnership for developing an innovative business model for end-of-life Lithium-ion batteries. (EOL Lib). With this breakthrough recycling program, Retriev and Marubeni are working together to take valuable metals recovered from EOL Lib to expand the circular business model for EV battery-to-battery closed loop recycling in the battery industry.
Retriev V.P. Todd Coy said of this program, “We are very pleased to see this strategic international endeavor now underway and to be involved in the creation of a sustainable circular economy for the reuse of battery raw materials worldwide. We expect positive results out of our collaboration with Marubeni, leaders in trading critical raw materials for the battery industry. We’re confident that our progress will positively impact our ability to secure secondary battery raw materials necessary for a sustainable battery ecosystem. Our initial shipment to Japan this month contained 17 tons of material that will be used to validate cathode production for new batteries.”
Together, Marubeni and Retriev are focused on creating and refining the solution to recirculation of valuable battery raw materials back into new battery manufacturing, creating increased sustainability in the battery supply chain to meet rapid growth and demand in EV markets. Marubeni and Retriev are currently in discussion with cathode producers for secondary battery materials.
About Retriev: Retriev has been recycling lithium ion batteries for over 25 years in Canada and is widely regarded as the preeminent lithium battery recycler in the U.S. Retriev’s Ohio facility for the recycling of electric vehicle batteries was funded in part by the U.S. DOE under the Obama administration and has been in operation in Ohio since 2015.
About Marubeni: Marubeni Corporation business units encompass a diverse range of activities that include power business, energy, metals & mineral resources. Additionally, the Marubeni Group offers a variety of services, makes internal and external investments, and is involved in resource development throughout all of the above industries.