Ascend Elements, a lithium ion battery recycling and engineering materials company, has announced that it will supply Koura Global with 5,000 tonnes of recycled lithium carbonate annually. Koura will use this recycled lithium carbonate as a source of lithium ion battery materials for the US and European markets. The agreement will enable Koura to produce enough material to support the production of more than one million electric vehicles on an annual basis.
By 2030, more than half of the vehicle sales in the American and European markets are expected to be electric, and in this respect, the importance of regional material supply becomes more prominent. According to the statement made by Ascend, lithium and other critical metals recovered from used lithium batteries will make EV batteries more environmentally friendly and more sustainable.