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[Alpha Biz=(Chicago) Reporter Kim Jisun] Hyundai Glovis has secured battery preprocessing technology after using electric vehicles.
Hyundai Glovis announced on the 22nd that it has signed an investment contract (SSA) with DR, a battery recycling company equipped with preprocessing technology. Through this equity investment, the company has the right to use the preprocessing technology and equipment of the ER.
Hyundai Glovis has been investigating appropriate equity investments since early last year and finally joined hands with E.R. It recently completed negotiations on due diligence and conditions and completed an investment contract to secure stakes in ER for strategic cooperation. We decided not to disclose the investment amount and detailed contract terms under the agreement between the two companies.
ER was established in 2008 and has the capacity of battery preprocessing after using electric vehicles. In particular, the company has a patent for the technology to treat waste lithium ion batteries with low-temperature vacuum systems and their facilities. It is also equipped with eco-friendly process technology that does not generate wastewater and carbon dioxide in the preprocessing process and retrieves electrolytes.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
