Sep 14, 2020, 10:00 EST
Bronx, United States, Sep 14, 2020, 10:00 /Comserve / -- Optimized resource management solutions provider, Veolia Group announced on September 09, 2020 (Wednesday), that it has partnered with advanced materials and specialty chemicals company, Solvay.
Brussels and Paris, September 11, 2020: Optimized resource management solutions provider, Veolia Group announced on September 09, 2020 (Wednesday), that it has partnered with advanced materials and specialty chemicals company, Solvay. The collaboration aims to ensure the reuse of critical raw materials used in the lithium-ion electric and hybrid vehicle batteries.
According to the company, the use of electric vehicles is estimated to rise from 8 million in 2020 to 116 million by 2030, so there is a need to recover the raw materials at their maximum value to renew the life cycle of electric car batteries. Veolia through its subsidiary SARP Industries along with Solvay is actively involved in the negotiation to coordinate, collaborate, and exploit each other’s technology to create a circular value eco-system for electric car batteries in Europe.
While Solvay’s role in this partnership is to help manage the extraction and purification of critical metals such as cobalt, lithium, and nickel to convert them into useful raw materials for new batteries, Veolia will help to optimize the waste management solutions to enable better recycling of electric vehicle batteries and the management of the pollutants. It is expected that this collaboration will help Solvay to generate 15% revenue from either recycled or bio-based materials
Since 2013, Veolia has been dismantling the batteries for electric vehicles in its recycling plant located in eastern France. The integration of mechanical and hydrometallurgical methods allows the processing of active cells and facilitates the separation of active metals. These metals are then used by the industry and are converted into high-purity strategic raw materials. Both companies are excited about this partnership.
According to the latest financial statement, Veolia reported revenue of EUR 12,412 million during H1 2020 as compared to the previous year’s revenue of the same period which was EUR 13,324 million, a slight decline by (-) 6.8% Y-o-Y. Clearly, the company’s operation was hit due to the COVID-19 outbreak. A few days back, it signed an agreement to acquire Pražská Teplárenská for expanding its energy production in the Czech Republic. Before this, the Group has completed several acquisitions, which also includes the proposal to acquire 29.9% of Suez’s shares from Engie. This cash proposal was priced at EUR 15.5 per Suez shares and is valid until September 30, 2020.
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