Sumitomo Mitsui Finance and Leasing Company, Limited (SMFL), SMFL Rental Company, and SK tes Sign MOU for Lithium-Ion Battery Recycling
The use of lithium-ion batteries (LIB) is rapidly expanding, not only in consumer products such as notebook PCs but also in stationary and EV applications. Awareness of their importance is growing globally, including in Japan. At the same time, concerns over the procurement of critical minerals for LIBs are rising due to uneven regional distribution and concentrated refining technologies. As a result, the need for LIB recycling is increasing.
With a significant increase in used EV LIBs expected by 2030, this MOU marks the first step towards establishing a closed-loop supply chain for LIBs in Japan. This initiative aims to enhance Japan's resource security and contribute to a recycling-oriented society.
About SK tes
Founded in 2005, SK tes (formerly TES) is a global leader in sustainable technology services, helping clients manage the commissioning, deployment, and retirement of technology devices and components. SK tes provides comprehensive lifecycle services, including deployment, decommissioning, disposition, recycling, and end-of-life repurposing.
SK tes has pioneered a proprietary lithium battery recycling process that extracts scarce materials from used batteries at purity rates high enough for reuse in manufacturing. The company has committed to transforming and repurposing one billion kilograms of assets by 2030.
With 43 owned facilities across 22 countries, SK tes offers consistent service levels, reduced logistics costs, regional compliance expertise, and support in local time zones and languages.
SMFL’s Commitment to Sustainability
SMFL's management philosophy emphasizes commitment to Sustainable Development Goals (SDGs). One of its key initiatives is leading activities to realize a circular economy and solve social issues.
SMFL Rental specializes in leasing and rental services for IT equipment, industrial tools, and transportation equipment. The company promotes the circular economy by reusing and recycling rental assets, further contributing to social value through this new business venture.
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