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The Hunan, China-based precursor producer CNGR has signed an MOU with South Korean Sungeel Hitech on jointly setting up facilities in Europe for disassembly, pre-processing and hydrometallurgical processing of waste batteries. The companies will conduct a feasibility to study on setting up a plant with a capacity of 24,000 tonnes which can further expanded to 56,000 tonnes.
CNGR is one of the largest precursor manufacturers in China with Xiamen Tungsten and Tesla on the customer list. Main products are different high nickel precursor but the company has also a strong position in precursors for LCO cathodes. In March the company signed an MOU with Finnish Minerals Group on setting up a precursor plant in Hamina, Finland.
Sungeel Hitech is one of the world's leading lithium-ion battery recyclers with hydrometallurgical plants in South Korea which are fed by several pre-processing sites over the world of which two in Hungary.
In the agreement Sungeel Hitech commits to target South Korean battery producers while CNGR will source end-of-life batteries and production scrap from Chinese producers.
No details so far have been shared on timelines.