TES and European integrated energy company Galp are collaborating to assess the development of sustainable battery recycling operations in Iberia, a key link in building the local full-cycle battery value chain. The two companies signed a memorandum of understanding to jointly take the necessary steps to assess the feasibility of introducing a lithium-ion battery recycling plant in Iberia, which could involve both mechanical and chemical processes. Galp and TES will partner with battery manufacturers, automakers, electric vehicle owners and other sources of waste batteries and raw materials for battery materials. The companies will also conduct technology research to develop competitive and sustainable processes for converting safe raw materials into battery materials with recycled content to fully meet the requirements of offtake customers. increase. Galp is transforming its business to be a carbon-neutral energy company by 2050, with more than half of its projected net investment in low-carbon energy and renewable energy, green hydrogen, low-carbon fuels and electric mobility. Investing in new business. In cooperation with major European battery manufacturers, construction of a lithium conversion plant in Portugal is also underway as a starting point for building a local battery value chain.
Date: May 12, 2023