Korean IS Dongseo acquires battery recycler BTS Technology in Slovakia

The Korean conglomerate IS Dongseo has acquired the Slovakian battery recycling company BTS Technology. BTS Technology is operating warehouses and battery deismantling plants in Hungary and Slovakia and is currently building a pre-processing plant in Poland with a capacity of about 15,000 tonnes.

IS Dongseo is buying 70% of the Slovakian company for $28M while its founder remains with 30%. BTS Technology have been storing and dismantling EV batteries since 2018 and was one of the companies that processed packs in the recall of Hyundai Kona. Currently the company is building a pre-processing plant in Oswa, Poland close to LG Energy Solutions' battery plant which has been a customer of BTS for several years.

For IS Dongseo which lately has been making several acquisitions in the battery recycling industry the last years it is the first establishment in Europe, close to the Korean battery makers in Poland and Hungary. In April 2021 the company participated in Asterian Investment's acquisition of TMC in South Korea from Chinese Huayou Cobalt and in June 2022 the IS Dongseo invested in Canadian recycling startup Lithion Technologies while it received the exclusive rights to use Lithion's technologhy on the Korean ,market.

On the 23rd, IS Dongseo signed a stock purchase agreement to acquire BTS Technology at the BTS Technology factory in Poland.

BTS Technology is a recycling specialist in the environmental business field with 4 corporations in Slovakia, Poland and Hungary.

As a result, IS Dongseo has laid the foundation for establishing a global value chain for the waste battery business as well as domestically.

IS Dongseo acquires a European battery recycling companyReporter Kim Yu-shintrust@mk.co.krinput :2023-08-24 17:17:27correction :2023-08-24 20:11:20Processing of 50,000 electric vehicles per yearConstruction of a factory in Oswa, Polandpicture explanationLee Hyuk, CEO of BTS Technology (left), and Lee Jun-gil, CEO of IS Dongseo Environmental Business Division.IS Dongseo entered the European electric vehicle waste battery market by acquiring BTS Technology, a European recycling company.IS Dongseo announced on the 24th that it signed a stock purchase agreement to acquire BTS Technology at its Oswa factory in Poland on the 23rd.BTS Technology is a recycling specialist in the environmental business field with four corporations in Slovakia, Poland, and Hungary.With this, IS Dongseo has laid the foundation for building a global value chain not only domestically but also in the waste battery business.BTS Technology is building a factory dedicated to preprocessing waste battery cells and modules in the Oswa region of Poland.The company plans to complete and operate the factory within the year.This factory is capable of batch preprocessing of waste battery cel