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The KOSDAQ-listed software company Yulho which mainly is engaged in embedded server software announced earlier this year that the company aims to enter the battery recycling industry. Now the company has announced that they setting up a seprate subsidiary, Yulho Materials, and is breaking ground for its first facility, in Hwaseong in the Gyeonggi province, which will be able to process 30 tonnes of waste batteries per day, or 8,000 tonnes per year, into black mass.
The company has a plan to expand with additional plants up to 24,000 tonnes per year. The company claims it will use a technology which makes it less sensitive to fires and explosions during the process. Commissioning is planned for Q4 in 2023 with full scale production starting in 2024.
In January Yulho acquired Ecoland which which is engaged in waste collection, transportation, intermediate treatment, and landfill. The company is also negotiating with potential partners in Nevada in the US for either establishment or trading opportunities.