PR90839

IRVING, Texas, July 26, 2021 /PRNewswire=KYODO JBN/ --

- Acquisition expands Ecobat's position in Europe as the leader in recycling

batteries of all chemistries

- Combined capabilities position Ecobat as the only service provider across

Europe to offer the full suite of lithium-ion recycling services

Ecobat, the global leader in recycling batteries, announced today that it has

acquired Promesa, a leading EV lithium-ion battery recycling operator based in

Hettstedt, Germany.

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"The addition of the Promesa team means Ecobat is the only provider in Europe

with the capability to offer our customers the full suite of recycling services

for lithium-ion batteries, from collecting, discharging and dismantling

batteries to crushing and sorting them and arranging for black mass disposal,"

said Jimmy Herring, Ecobat's president and chief executive officer. "Building

on this acquisition, Ecobat will continue to expand our position in the

lithium-ion battery recycling space with future investment plans underway to

increase capacity at our Promesa facility and to build out additional

dismantling capabilities across Germany."

The demand for EV lithium-ion battery recycling continues to accelerate across

Europe and the world, and it is expected to be worth $4.7 billion in 10 years.

Promesa's strategic location in the vehicle manufacturing and lithium battery

center of Germany provides Ecobat a crucial entry point in one of the most

critical markets for battery access and OEM factory scrap. The EV Li-ion

battery recycling is growing in Europe at a compound annual growth rate of

31.6%. Additionally, Promesa represents a critical part of the battery

recycling process and value chain and will provide Ecobat with access to

business-critical permits for 3,200 tons of chemical compounds. These contracts

cover a broad range of waste materials associated with a variety of battery

chemistries from household to electric vehicle, positioning Ecobat for

expansive growth opportunities.

About Ecobat

A leader in the collection, recycling, production, and distribution of energy

storage resources essential to modern life.

From the batteries used in vehicles and renewable energy infrastructure to the

backup power systems that support hospitals and data centers, the materials we

recycle and produce are essential components in the technologies developed to

meet the world's energy storage needs. With the rising adoption of electric

vehicles and their reliance on batteries, we are continually expanding our

collection and recycling management services. It's all part of our commitment

to protecting the planet for all.

About Promesa

PROMESA GmbH & Co. KG (https://c212.net/c/link/?t=0&l=en&o=3238385-1&h=3163339518&u=http%3A%2F%2Fwww.promesa-tec.de%2F&a=PROMESA+GmbH+%26+Co.+KG) is headquartered in Hettstedt, Germany and was founded by VVG GmbH & Co. KG

for the treatment and recycling of lithium battery systems. The technology,

developed in the last decade, enables safe recycling of lithium primary

batteries and lithium-ion accumulators. The entire process is designed to

handle battery and accumulator systems from the post-consumer, industrial and

military sectors.

Media Contacts

Edelman for Ecobat

ecobat@edelman.com

SOURCE  Ecobat