SK On establishes recycling subsidiary at its Hungary plant

The Korean battery manufacturer SK On has established a subsidiary specialised in pre-processing of battery waste: Voltcycle On Kft. The company will primarily process the scrap generated at the SK On's two plants in Hungary where scrap generation previously has been very high. The scrap has been sold both to traders and local waste processors.

Although started by SK On the recycling company will be soon converted to a joint venture with the Korean technology company EMB which will take a 10% stake in Voltcycle On through a 10 billion won ($7.4M) investment. EMB is developing technology for direct recycling which potentially could be deployed in Voltcycle On's operations.