Pestech is keen to explore business in the lithium-ion battery recycling business after entered into a Memorandum of Understanding with Green Li-Ion Pte. Ltd, a Singapore-based company involved in the activity.
The Malaysian integrated electrical power technology company, operates in the ASEAN region providing solutions in project management, engineering, digitalization, manufacturing, installation, testing, and commissioning of electrical power infrastructure for sustainable power generation plants, power grid, and rail networks.
GLPL on the other hand is a Singapore-based company that provides a proprietary solution for increasing the efficiency and profitability of rechargeable battery recycling and has developed the patented multi-cathode processor, GLMC-1, which recycles spent lithium-ion batteries directly into 99.9% pure cathodes, speeding up the current recycling process at a lower cost.
Conventional recycling methods do not adequately handle the recycling of different types of LION batteries cathode materials and fail to sufficiently address the extraction of other metals. The GLMC-1 removes impurities of iron, copper, fluorine, phosphorous, titanium and aluminium when recycling the LION Batteries. Thus, enabling better yield and efficiency.
The GLMC-1 increases the efficiency by over 200% by having the ability to process all variations of LION Batteries and the mechanical and chemical processing control system produces better output which could fully rejuvenate LION Batteries.
Under the MoU, the Parties will co-operate jointly in the promulgation of LION Batteries recycling activities and businesses in the region of Malaysia and Cambodia. Pestech will conduct the necessary due diligence on the technical and financial viability of the GLMC-1 LION Batteries recycling solutions, and if found feasible, proceed further with the execution of an exclusive affirmative collaboration agreement for the Region with GLPL for the establishment of a LION Batteries recycling facility.