The demand for Lithium batteries is increasing, but the resources required to manufacture them are finite. Find out how we're closing that loop.
In recent years, lithium batteries have become the unsung heroes of our modern, tech-driven world. From powering our smartphones and laptops to fueling electric vehicles (EVs), these compact powerhouses are indispensable in our daily lives. However, as the demand for lithium batteries continues to skyrocket, it brings with it an intriguing mix of opportunities and challenges, particularly in the realm of sustainability.
The surge in demand for lithium batteries is nothing short of electrifying
According to industry forecasts, the global lithium-ion battery market is expected to grow exponentially in the coming years, driven primarily by the booming EV market.
Global demand for Li-ion batteries is expected to soar over the next decade, with the number of GWh required increasing from about 700 GWh in 2022 to around 4.7 TWh by 2030, according to McKinsey & Company Analysis.
Image credit: McKinsey & Company
Key Challenges: From Resource Scarcity to Environmental Concerns
The production of lithium batteries relies heavily on finite resources such as lithium, cobalt, and nickel. As demand increases, the pressure on mining these materials grows, leading to concerns about resource scarcity and environmental degradation. Furthermore, the disposal of used batteries poses its own set of challenges, with improper disposal contributing to soil and water contamination
SK tes is keenly aware of the pressing need to address these issues and has positioned itself at the forefront of sustainable battery recycling.
SK TES is not just another player in the recycling industry; it's a trailblazer dedicated to transforming how we perceive and manage battery waste. By focusing on recovering precious resources from used batteries, SK TES is helping to close the loop in the life cycle of EV and lithium battery battery recycling.
SK tes recycles materials from such as lithium, cobalt, and nickel from battery waste
Our innovative technology enables the efficient extraction of valuable materials such as lithium, cobalt, and nickel from spent batteries. This not only reduces the need for new mining operations but also minimizes the environmental impact associated with battery disposal. SK TES’s efforts contribute to a more sustainable ecosystem, where materials are reused and recycled, ultimately conserving our planet's resources for future generations.
Utilizing recycled battery materials offers significant advantages across both environmental and economic fronts. First, it reduces the reliance on virgin mining, which is often resource-intensive and environmentally harmful. By recycling, we minimize the carbon footprint linked to producing new batteries, contributing to global initiatives to combat climate change.
Economically, the growing market for recycled materials presents profitable opportunities, creating new business opportunities and jobs promotes sustainability and business growth by supporting a circular economy that benefits both the planet and society.
