Partnership formed between Ascend Elements and GEM as they agree to collaborate on scrutinizing battery recycling and material cooperation in Europe.
In a significant move towards a greener and more sustainable future, Ascend Elements and GEM Co., Ltd. have announced a partnership to explore battery recycling and engineered materials production in Europe. The collaboration, outlined in a Memorandum of Understanding (MOU), aims to build an advanced network for lithium-ion battery recycling and critical minerals recovery, creating a localized and circular supply chain.
Ascend Elements, a leading provider of domestic critical minerals and engineered battery materials for the lithium-ion battery industry, was founded in 2015. The company has made a name for itself in producing sustainable LiCO and pCAM made from recycled battery materials.
On the other hand, GEM Co., Ltd., a top-tier company in the global tungsten carbide industry and the new energy industry, was founded by Professor Xu Kaihua in Shenzhen, China in 2001. GEM Co., Ltd. is a leading enterprise in China's circular economy and a global leader in waste recycling.
The partnership between the two companies is expected to deliver a fully integrated, localized battery industrial ecosystem. The collaboration aims to address sustainability and regulatory requirements, support the energy transition, and drive economic value.
Professor Xu Kaihua, Chairman of GEM, expressed that the partnership with Ascend Elements is a milestone in realizing GEM's vision for a greener and more sustainable future. Linh Austin, President & CEO of Ascend Elements, echoed this sentiment, stating that the partnership will contribute to meeting the growing demand for sustainable and traceable battery solutions.
The European locations mentioned in the MOU for collaboration on battery recycling and production of materials for lithium-ion batteries are Germany and Hungary. The partnership is expected to drive innovation in battery recycling and engineered materials production, helping meet the increasing regulatory and market requirements for recyclable and traceable batteries.
The strategic collaboration between the companies combines GEM's technology and expertise in recycling and mass production of recycled metals and engineered battery materials with Ascend Elements' existing operational and commercial presence in Europe. The goal is to advance Europe's localized, sustainable battery materials ecosystem in alignment with the European Union's regulatory framework, including the EU Battery Regulation and EU Battery Passport initiative.
This collaboration is not just a step towards a greener future but also a significant contribution to the energy transition, addressing the need for sustainable and traceable battery solutions while supporting the local economy.
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