EBRD loans €25mn to Elemental Holding for car battery recycling facility

By bne IntelliNews April 7, 2021

Polish company Elemental Holding has secured up to €25mn in financing from the European Bank for Reconstruction and Development (EBRD) for a car battery recycling plant, a first in the EU, the EBRD said on April 7.

The facility will treat both car batteries as well as other waste containing metals critical for e-mobility in response to the rapid rise of electric vehicles. Poland has recently emerged as Europe’s hotspot for manufacturing batteries, predominantly for electric cars but also for an array of other uses, primarily for power grids and industry. 

Elemental Holding’s facility will produce secondary metals and other materials that can be reused as raw materials for new batteries or other applications, providing an essential service in the lithium-ion batteries value chain. 

These batteries are a core component of electric vehicles, sales of which are forecast to overtake those of petrol- and diesel-powered cars as the transition to a low-carbon economy progresses.

The project will reduce greenhouse gas emissions and support the circular economy in the e-mobility sector, the EBRD said. The production and use of recycled batteries and metals can lead to carbon savings as high as 98% compared to their primary counterparts, as well as to more efficient use of scarce natural resources.

Elemental Holding is a Polish company engaged in the collection and recycling of platinum-group metals and electrical waste. The company has operations in Poland, other European countries, the Middle East and the US.

The facility entails the deployment of state-of-the art innovative technology supplemented and co-financed by the Polish National Centre for Research and Development (NCBR) with the support of the European Commission.

The project also benefited from technical cooperation support provided by the Taiwan Business-EBRD Technical Cooperation Fund and Spain.

Elemental Holding was delisted from the Warsaw Stock Exchange in late February, with the company executives saying its valuation was not up to expectations.

 

 

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