Envirostream signs new exclusive battery recycling agreement with Hyundai Glovis
HIGHLIGHTS
◼ Envirostream has signed a new exclusive agreement with Hyundai Glovis to provide battery recycling services for Hyundai Glovis batteries in Australia
◼ Hyundai Glovis is a leading logistics company and is part of the Hyundai Motor Group
◼ The agreement has an initial 3-year term, and the Company expects it to increase large-format lithium-ion battery collection volumes
◼ Envirostream remains focused on executing the strategy of signing recycling agreements with leading EV and ESS1 manufacturers to secure future lithiumion battery supply
Comment from Lithium Australia CEO and Managing Director, Simon Linge
“We are very excited to announce the exclusive recycling Agreement signed with Hyundai Glovis, the logistics and distribution arm of Hyundai Motor Group, a world leading OEM for EVs. We are pleased to be able to assist them to recycle their largeformat EV batteries.
Recycling agreements with tier 1 EV and ESS manufacturers demonstrates LIT’s blue chip status as a battery recycler and are key to Lithium Australia’s growth strategy. Signing with Hyundai Glovis follows the previously announced agreement with LG Energy Solution and highlights the ongoing momentum that the Company has built in early 2024. We look forward to building this momentum further and accelerating collection volumes of large-format batteries to drive the Company’s growth in 2024.”
