Sonyde Subsidiary Secures Additional Site for Annual 44,000-Ton Waste Battery Recycling Business

Sonid, a KOSDAQ-listed company (CEO: Oh Jung-geon), announced on the 14th through a public disclosure that its subsidiary Sonidritech has additionally purchased approximately 42,000m² (about 12,785 pyeong) of business land within the Goryeong Wolseong General Industrial Complex to expand its secondary battery recycling business. Sonid held a board meeting on the same day and submitted an investment commitment letter, with plans to sign the main contract by the end of this month.

Sonid plans to build a secondary battery recycling plant in the Wolseong Industrial Complex located in Goryeong, Gyeongbuk, thereby expanding synergy effects with the active secondary battery business ecosystem in Gyeongbuk and Gyeongnam. The company explained that 100 billion KRW will be invested in the construction of the new plant, which will produce battery raw materials such as precursors, a key material for cathodes.

Within the newly secured business site, Sonid intends to simultaneously establish pretreatment facilities such as discharge, disassembly, and dismantling equipment for the secondary battery recycling business, as well as post-treatment facilities that extract battery raw materials like lithium, cobalt, and nickel.

Regarding the post-treatment facilities, Sonid plans to implement technology secured from Canadian company RecycLiCo Battery Materials, with which it signed a business agreement in January. RecycLiCo’s technology enables direct production of high-nickel precursors for cathode materials from raw materials extracted from waste batteries, and through its proprietary closed-loop hydrometallurgy chemical process, it allows eco-friendly and highly efficient recycling of waste batteries.

By securing this technology through RecycLiCo, Sonid is expected to become the only company in Korea capable of directly producing high-nickel precursors for cathode materials based on raw materials extracted from waste batteries.

Having secured business sites in Goryeong, Gyeongbuk, and Yangsan, Gyeongnam, Sonid aims to complete the waste battery recycling plant in 2024 and commence full-scale operations in early 2025. By expanding large-scale battery recycling production facilities on the additionally purchased business site, the company plans to increase the existing recycling business processing capacity of 12,000 tons to 44,000 tons by 2027.

Oh Jung-geon, CEO of Sonid, stated, “Through the establishment and acquisition of subsidiaries, we have completed 90% of the value chain for secondary battery recycling and reuse business, including waste battery collection, performance inspection, and pretreatment.” He added, “Based on the additional purchase of this business site, we will expand the scale of the recycling business and stand out in the related business fields starting from 2027.”

This content was produced with the assistance of AI translation services.