SMCC said that it will leverage over $1.75 million in incentives from New York State and create over 100 research, engineering, and manufacturing jobs.
Established in 2000, the Gunsan, Jeollabuk-do, Korea based company is one of the few major recyclers of lithium-ion batteries (LIBs), worldwide.
According to SMCC, approximately 50% of LIBs are recovered and recycled in the European Union and some Asian countries, whereas less than 5% of all LIBs are recycled in the United States. The new plant will recycle around 5000 tonnes of LIBs per year.
Cobalt and lithium are the two most valuable metals found in LIBs, with consumption of both outpacing supplies in recent years. The US lacks the domestic supply of both strategic metals.
SMCC will recover these valuable metals through an efficient and environmentally friendly process. The recovered metals can be used in the manufacture of new lithium-ion batteries as well as multiple industrial applications.
“We are excited to be at the forefront of lithium-ion battery recycling in the United States and to create quality, hi-tech, green jobs in our home state of New York,” said Danish Mir, COO of Metallica Commodities Corp. and SMCC President.
“The State’s energy storage initiative makes the Southern Tier an obvious choice. We look forward to leveraging the region’s educational institutions, technological resources, and manufacturing tradition to add to the incredible progress New York State has made in energy storage technology,” he continued.
Howard Zemsky, President, CEO, and Commissioner of Empire State Development added: “Throughout the Southern Tier, companies are finding innovative new uses for existing facilities. This international partnership recycling lithium batteries will foster the supply of a product in high demand and expand the thriving energy storage industry in the region.”
Meanwhile, Christopher Pelto, President of Huron Real Estate Associates, LLC. said: “We are delighted to welcome SungEel MCC Americas to the Huron Campus and look forward to their contributions in building the infrastructure to support the clean energy and advanced manufacturing initiatives at the Huron Campus in Endicott.”