bne IntelliNews – The EBRD lends € 25m to Elemental Holding for an automotive battery recycling facility

polish society Elementary outfit has secured up to € 25 million in funding from the European Bank for Reconstruction and Development (EBRD) for a car battery recycling plant, a first in the EU, the EBRD announced on April 7.

The facility will process both car batteries as well as other wastes containing metals essential for electric mobility in response to the rapid growth of electric vehicles. Poland has recently become Europe’s hotspot for manufacturing batteries, primarily for electric cars, but also for a range of other uses, primarily for power grids and industry.

Elemental Holding’s facility will produce secondary metals and other materials that can be reused as raw materials for new batteries or other applications, providing an essential service in the lithium-ion battery value chain.

These batteries are an essential component of electric vehicles, whose sales are expected to exceed those of gasoline and diesel cars as the transition to a low-carbon economy progresses.

The project will reduce greenhouse gas emissions and support the circular economy in the electric mobility sector, the EBRD said. The production and use of batteries and recycled metals can lead to carbon savings of up to 98% compared to their primary counterparts, as well as a more efficient use of scarce natural resources.

Elemental Holding is a Polish company engaged in the collection and recycling of platinum group metals and electrical waste. The company is present in Poland, other European countries, the Middle East and the United States.

The installation involves the deployment of cutting edge innovative technology complemented and co-funded by the Polish National Research and Development Center (NCBR) with support from the European Commission.

The project also benefited from technical cooperation support provided by the Taiwan Business-EBRD Technical Cooperation Fund and Spain.

Elemental Holding was delisted from the Warsaw Stock Exchange in late February, with company executives saying its valuation fell short of expectations.

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