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EQS-News: KION GROUP AG
/ Key word(s): Sustainability
KION Group closes recycling loop for lithium-ion batteries
Frankfurt am Main, September 26, 2023 – The KION Group is now sending lithium-ion batteries that have reached the end of their useful life to its strategic partner Li-Cycle Holding Corp. (“Li-Cycle”; NYSE LICY) for recycling. The Group’s objective is to have a total of up to 5,000 tonnes of end-of-life battery material professionally and sustainably processed at the Li-Cycle recycling plant in Magdeburg, Germany, by 2030. This tonnage is equivalent to around 15,000 large lithium-ion batteries of the kind used in forklift trucks. “We firmly believe that lithium-ion is the drive technology of the future. That is why it is so important to us to make the technology part of a closed loop – from manufacturing and usage through to resource recovery,” said Henry Puhl, Chief Technology Officer of KION GROUP AG at the official opening of Li-Cycle's first recycling plant in Europe. The KION Group produces its own lithium-ion batteries at the KION Battery Systems plant in Karlstein am Main. These are then installed in the electric-powered industrial trucks of the KION brand companies Linde MH, Fenwick, STILL, and Baoli, as well as in automated warehouse logistics systems. “Together with Li-Cycle, we are now closing the loop and ensuring that nearly all of the valuable materials, including lithium, cobalt, copper, and nickel, are recovered from the lithium-ion batteries used in our trucks. These resources can then be used to make new batteries.” Puhl emphasized that the partnership with Li-Cycle will strengthen the KION Group’s sustainability credentials and further extend its market-leading position in electric-powered industrial trucks. While 88 percent of all industrial trucks sold by the KION Group brands last year were electric, the figure for the global market as a whole was just over 70 percent. “Not only are we helping to drive forward the energy transition, but we are also leading the way in the recovery of critical materials and the recycling of advanced lithium-ion batteries.” “We want to ensure that lithium-ion batteries do not end up in landfills, but instead that all their components are recycled in an environmentally responsible manner,” explains Richard Storrie, Li-Cycle’s President for the EMEA region. “The agreement with KION is an excellent example of a sustainable, long-term cooperation. Acting as a strategic partner, Li-Cycle will support the KION Group in hitting its recycling targets while at the same time helping it to meet EU requirements for battery management.” Modern and environmentally friendly recycling process Li-Cycle uses an innovative and sustainable two-stage process to recycle lithium-ion batteries and recover critical battery materials. In contrast to energy-intensive smelting methods, Li-Cycle uses non-thermal liquid-based size reduction technology. Li-Cycles technology can be used to process all types of lithium-ion batteries – regardless of shape, size, or chemistry. This liquid-based process is safer and avoids potential hazards such as fires. After the plastics and metals (copper, aluminum, and steel) are separated, they are rinsed, dried, and packaged ready to be shipped. The remaining intermediate, known as black mass, is then dealt with in stage two. In this hydrometallurgical process, materials such as lithium carbonate, cobalt sulfate and nickel sulfate are recovered from the black mass so that they can then be used in new batteries. The Li-Cycle process at its recycling facility in Magdeburg produces only minimal landfill waste, low air emissions, and no wastewater discharge. It has processing capacity for up to 30,000 tonnes of lithium-ion battery materials per year.
The Company The KION Group is among the world’s leading suppliers of industrial trucks and supply chain solutions. Its portfolio encompasses industrial trucks such as forklift trucks and warehouse trucks, as well as integrated automation technology and software solutions for the optimization of supply chains, including all related services. Across more than 100 countries worldwide, the KION Group’s solutions improve the flow of material and information within factories, warehouses, and distribution centers. The MDAX-listed Group is the largest manufacturer of industrial trucks in the EMEA region in terms of units sold in 2021. In China, it is the leading foreign manufacturer (as measured by revenue in 2021) and number three overall. The KION Group is also one of the world’s leading providers of warehouse automation (as measured by revenue in 2021). With an installed base of more than 1.7 million industrial trucks at the end of 2022, the KION Group’s customers include companies of various sizes in numerous industries on six continents. The Group currently has more than 41,000 employees and generated revenue of around €11.1 billion in 2022. Current KION Group images can be found in our image database at https://mediacenter.kiongroup.com/categories and on the websites of our various brand companies. (fgr) Disclaimer This release and the information contained herein are for information purposes only and do not constitute a prospectus or an offer to sell or a solicitation of an offer to buy any securities in the United States or in any other jurisdiction. This release contains forward-looking statements that are subject to various risks and uncertainties. Future results could differ significantly from the results that are currently expected due to various risk factors and uncertainties such as changes in economic or industry-specific conditions, changes in the market environment or political situation, changes in domestic or international legislation, interest rate or exchange rate fluctuations, legal disputes and investigations, and the availability of financial resources. We do not assume any responsibility for updating the forward-looking statements in this release.
Further information for the media Frank Grodzki
Tel: +49 (0)69 201 107 725
Further information for investors Additional features: File: KION Group_Press Release Recycling Loop
26.09.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | KION GROUP AG |
| Thea-Rasche-Straße 8 | |
| 60549 Frankfurt/Main | |
| Germany | |
| Phone: | +49 69 20110-0 |
| E-mail: | info@kiongroup.com |
| Internet: | www.kiongroup.com |
| ISIN: | DE000KGX8881 |
| WKN: | KGX888 |
| Indices: | MDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1734819 |
| End of News | EQS News Service |
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1734819 26.09.2023 CET/CEST
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