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Retriev Technologies Inc. and Marubeni Corporation Announce Strategic Partnership for Developing New Circular Business for End-of-Life Lithium-ion Batteries

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ANAHEIM, Calif.--(BUSINESS WIRE)--Marubeni Corporation (hereinafter, �Marubeni�) and Retriev Technologies Inc. (hereinafter, �Retriev�) have entered into a Strategic Partnership Agreement with the aim of developing a new circular business for End-of-Life Lithium-ion batteries (hereinafter, �EOL LiB�). The companies will develop a business model by which valuable metals recovered from EOL LiB can be reused.

Retriev is a pioneer and market leader in the North American battery recycling industry. Retriev has a well-respected track record of recycling LiB for over 20 years and has processed over 25 million pounds of batteries, displaying their unwavering commitment to best practice recycling solutions and management. Retriev�s process involves crushing the batteries and then retrieving the valuable metals from the crushed materials.?

Marubeni has grown its presence in the battery industry through such initiatives as acquiring exclusive sales rights to Zambian cobalt in Japan, which it has maintained since 1985, and trading of other critical raw materials for the battery industry. Marubeni has combined this experience with technical knowledge, expertise and a global network in this sector.

For this partnership, Retriev and Marubeni will also cooperate with a chemical maker possessing highly technical knowledge and expertise cultivated through their experience in rechargeable battery industries. This maker also produces sulphate(*1), battery precursor(*2) and cathodes for rechargeable batteries used in both consumer products and electric vehicles.

Moving forward, the quantity of EOL LiB generated is expected to increase in line with LiB market growth driven by rapidly growing demand for electric vehicles. As continuous growth is expected for the LiB market, proper EOL LiB waste management is one of the most critical global challenges for improving the sustainability of the battery supply chain.

Under the strategic partnership, Marubeni and Retriev will develop a circular business model for Battery to Battery Closed Loop Recycling(*3) in the battery industry, and contribute to improving the sustainability of global society through the development and promotion of new circular businesses in the market.

(*1) Sulphate: In the battery materials industry, this specifically refers to cobalt sulphate and nickel sulphate.

(*2) Precursor: In the battery materials industry, this term refers to the material used before calcination process, that will be processed into cathode.

(*3) Closed Loop Recycling: An essential waste management practice by which materials are recycled back into themselves to create another product, removing the waste disposal process.

Company Profiles

Company Name

Marubeni Corporation

Office

Tokyo Nihombashi Tower, 7-1, Nihombashi 2-chome, Chuo-ku, Tokyo, 103-6060, Japan

President and CEO

Masumi Kakinoki

Incorporated

1949

Main Business

Marubeni Corporation and its consolidated subsidiaries use their broad business networks, both within Japan and overseas, to conduct importing and exporting (including third country trading), as well as domestic business, encompassing a diverse range of business activities across wide-ranging fields including lifestyle, ICT & real estate business, forest products, food, agri-business, chemicals, power business, energy, metals & mineral resources, plant, aerospace & ship, finance & leasing business, construction, auto & industrial machinery, and next generation business development. Additionally, the Marubeni Group offers a variety of services, makes internal and external investments, and is involved in resource development throughout all of the above industries.

Website

https://www.marubeni.com

Company Name

Retriev Technologies Inc.

Office

Ohio, United States of America

Factory location

Trail, B.C. Canada (1 factory)

Ohio, United States of America (2 factories ?

CEO

Steve Kinsbursky

Incorporated

1992

Main Business

For over 25 years, Retriev has built its reputation as a global leader in battery recycling and management. Retriev�s well-respected track record in research and development, excellent client services, and the highest level of environmental compliance demonstrates its unwavering commitment to the best recycling practices. Today's cutting-edge corporations, government entities, and consumers trust Retriev Technologies for its high level of integrity and environmentally responsible battery recycling and management services.

Website

https://www.retrievtech.com/

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Contacts

Todd Coy

[email protected]

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