European Bank for Reconstruction and Development, EBRD, will support the Polish recycling company Elemental Holding with a loan of up to €25M for the construction of an EV battery recycling plant in Poland.
According to Elemental Holding the plant 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.
The facility is said to entail the deployment of state-of-the art innovative technology and will be co-financed by the Polish National Centre for Research and Development (NCBR) with the support of the European Commission.
Elemental Holding is today primarily involved in PGM and precious metal recycling with activities in collection and recycling of catalysts and printed circuit boards. The company has presence in several countries including UK, Finland, Germany and Turkey.
Poland is indeed a very interesting market for battery recycling, being the largest battery producer in the EU and also, together with its neighbor Ukraine, an important net importer of used and EOL electric vehicles.
EBRD has long experience from investments in the Polish battery value chain with previous loans issued to both LG Energy Solutions and Johnson and Matthey.
Read the press release here
More about Elemental Holding here