LG Chem Teams up with Envirostream for Innovative Battery Recycling Solutions in Australia

– LG Chem partners with Envirostream to develop safe and innovative recycling solutions to reduce battery waste stream- 95% of the resources recovered from end-of-life batteries are converted into raw materials for new batteries resulting in a circular economy

SEOUL, South Korea, June 11, 2019 /PRNewswire/ — LG Chem, South Korea's leading manufacturer of advanced lithium-ion batteries, formed a partnership with one of the pioneering recycle-luminaries Envirostream to be LG Chem's exclusive battery recycling partner in Australia. This valuable partnership aims to develop safe and innovative management solutions to increase Australia's low recovery rates concerning batteries, which is an increasing threat to the Australian environment.

LG Chem and Envirostream's forward-thinking approaches are expected to elevate battery recycling systems in Australia to a whole new level. Originally, used batteries were sent overseas for recycling or left in landfills. However, with Envirostream's ISO 14001 accredited modular, 95% of the resources from end-of-life batteries can be safely recovered before being sent to metal and battery manufacturers to be converted into raw materials for new battery production. This initiative is the first step to allow LG Chem to be closer to achieving its environmental mission as well as bringing a truly circular economy to its Australian operations.

Established in 2017, Envirostream is a new ambitious company specifically designed to develop safe and innovative, on-shore processing solutions for rapidly growing issues in the battery waste stream. Recognized as the first company in Australia to recycle lithium batteries, Envirostream recycled 298,240 kilograms of them in 2018 and showed how previously unseen opportunities can be developed and nurtured in Australia's recovery sector.

Batteries have presented some of the biggest emerging challenges to Australia's waste stream. According to research conducted by CSIRO (Commonwealth Scientific and Industrial Research Organisation), only 2 percent of Australia's annual 3,300 tons of lithium-ion battery waste is recycled, with waste predicted to grow by at least 300% each year by 2036.

"We're extremely proud to be able to carve a new path towards preserving our precious planet through this invaluable partnership with Envirostream", said Jamie Allen, General Manager from LG Chem Australia, "Starting with Australia, we hope this provides the opportunity to expand sustainable options for lithium-ion battery disposal."

About LG Chem

LG Chem is one of the world's largest lithium-ion battery manufacturers with a market-leading position in advanced batteries for grid-scale, residential storage and automotive applications. Our advanced lithium ion battery technology is the product of 24 years of experience in the development and production of mobile batteries and large format batteries for automotive and energy storage systems (ESS). LG Chem's commitment to technology leadership coupled with efficient and high-quality manufacturing processes produces batteries that exhibit the highest levels of safety, performance and reliability. For more information, please visit https://www.lgchem.com/global/main.

SOURCE LG Chem