Press Release: The Urgent Need for Lithium Recycling Amidst Global Demand Surge
As the world accelerates its transition to clean energy, the demand for critical minerals, particularly lithium, is skyrocketing. Lithium, often referred to as "white gold," is essential for electric vehicle (EV) batteries and energy storage systems. According to the International Renewable Energy Agency (IRENA), lithium demand for battery production is projected to surge tenfold between 2020 and 2030, with an electrified economy potentially requiring up to 450,000 tonnes of lithium by 2030. In stark contrast, global lithium production in 2021 only reached 105 tonnes.
Despite this mounting demand, millions of tons of lithium are discarded annually, with only 5% of lithium-ion batteries being recycled. A recent study from Stanford University revealed that recycling batteries emits 58% less greenhouse gases than mining new lithium, while consuming significantly less water and energy. Enhanced recycling efforts could alleviate geopolitical supply insecurities, especially given China’s dominance in lithium—accounting for 60% of EV battery-grade lithium and producing 75% of all EV batteries.
In response to these challenges, Hong Kong-based startup Achelous Pure Metals is pioneering portable lithium battery recycling solutions. Their innovative technology enables efficient recycling in urban settings, utilizing a robot-assisted process to extract valuable materials from old batteries, albeit not from EV batteries yet. "Our goal is to tackle the growing problem of discarded lithium-ion batteries through scalable, eco-friendly recycling," said Alan Wong, co-founder of Achelous.
Despite fierce competition from China, which has ramped up its own battery recycling capabilities, Achelous aims to establish "micro-factories" across Southeast Asia, turning discarded batteries into black mass for export. As the global push for sustainable lithium sourcing intensifies, advancements in recycling technologies may offer a crucial pathway to a more resilient and environmentally friendly battery supply chain.
Note: The image is for illustrative purposes only and is not the original image associated with the presented article. Due to copyright reasons, we are unable to use the original images. However, you can still enjoy the accurate and up-to-date content and information provided.
