Segiritec Signs MOU for Joint LFP Recycling Research with Korea Institute of Geoscience and Mineral Resources

Jung Kyung-woo, Head of the Resource Utilization Research Division at the Korea Institute of Geoscience and Mineral Resources (KIGAM) (right), and Kim Min-hong, CEO of Segiritec (left), signed a business agreement to advance the field of lithium battery recycling at 4 p.m. on the 31st in the main conference room of the Future Research Building at KIGAM. / Photo by Korea Institute of Geoscience and Mineral Resources

Segiritec, a 100% subsidiary of KPS, signed a joint research and development memorandum of understanding (MOU) with the Korea Institute of Geoscience and Mineral Resources (KIGAM) for the recycling of lithium iron phosphate (LFP) batteries. With this, Segiritec has emerged as the first national R&D partner for LFP recycling in South Korea.

According to KPS on the 4th, on the 31st of last month, Segiritec (CEO Kim Minhong) Technology Research Institute signed an MOU with KIGAM's Resource Utilization Research Division for the "development of technology in the recycling of lithium secondary batteries for used electric vehicles," agreeing to jointly participate in national projects necessary for related technology development in the future.

This business agreement particularly promotes mutual cooperation in the development of the LFP battery recycling sector. From immediately after the MOU, Segiritec plans to continuously supply research-grade LFP battery raw materials to KIGAM. The specific areas of cooperation include ▲development of LFP recycling technology ▲exchange of research personnel and technical support ▲construction and development of commercial recycling facilities and equipment for used automotive batteries ▲joint participation in technology development projects.

KIGAM will actively provide Segiritec with technical data related to the recycling of lithium secondary batteries including LFP, while Segiritec plans to utilize its proprietary technology from the pre-treatment stage to effectively recover materials from lithium batteries (patent technology name: Method for separating materials of batteries and recycled materials obtained by this method).

Previously, Segiritec signed a contract to promote the commercialization of solvent extraction process technology for extracting rare metals from electric vehicle waste batteries (NCM·LFP) with KIGAM, and since July has been receiving intellectual property rights (patent technology name: Multi-stage solvent extraction monitoring system) and know-how (design and operation of rare metal separation processes) from KIGAM.

Kim Minhong, CEO of Segiritec, stated, "Since we are promoting the commercialization of electric vehicle waste battery recycling with the only government-funded research institute, we will succeed in establishing the optimal commercialization system and achieve an overwhelming rare metal recovery rate." He added, "Starting from the end of this year, we will build not only a pilot plant for LFP recycling but also the first plant for rare metal recovery capable of commercializing the NCM series by next year."

Meanwhile, Segiritec is expected to achieve its highest performance since its establishment in 2010 this year. In the second quarter (April to June), sales and operating profit recorded 24.2 billion KRW and 3.2 billion KRW respectively, increasing by 15% and 146% compared to the same period last year. On a cumulative basis for the first half (January to June), sales and operating profit reached 45.4 billion KRW and 4.22 billion KRW, up 6% and 50% respectively from the previous year. Net profit also increased by 46%.

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