SINGAPORE (March 8, 2023) – Global IT asset disposition and battery recycling company SK Tes signed a Memorandum of Understanding (MoU) with Durapower Holdings Pte. Ltd. to collaborate on lithium-ion battery recycling and repurposing opportunities.
Headquartered in Singapore, Durapower offers end-to-end energy storage solutions for electric mobility and renewable energy applications, including on- and off-road electric, hybrid, and plug-in hybrid vehicles, electric marine vessels, and stationary energy storage systems (ESS).
Durapower supplies high-powered lithium battery systems for PSA Singapore’s Tuas Port’s automated guided vehicle (AGV) fleet — a key component of what will be the world’s first fully automated and digitalized port. The electric AGV fleet helps Tuas Port cut emissions by nearly half.
The MoU establishes a business alliance aimed at lowering the total cost of ownership (TCO) of Durapower battery packs by repurposing them for second-life use and ensuring efficient end-of-life recycling to return valuable materials to the battery supply chain.
SK Tes and Durapower will collaborate on second-life battery projects, with SK Tes providing lithium-ion battery recycling services for Durapower’s international EV fleet customers.
The MoU also includes a potential collaboration with GenPlus Pte Ltd (www.genplus-energy.com) to expand presence in stationary energy storage markets across Asia and Europe by combining Durapower's production capabilities with GenPlus's bespoke system integration.
"Durapower is excited to partner with SK Tes in support of the circular economy. We share joint values on sustainability and climate action by maximizing material circularity," said Kelvin Lim, CEO of Durapower Group. "SK Tes has proven to be a leader in sustainable technology lifecycle management, and we look forward to close collaboration."
John Oh, Chief Strategy Officer of SK Tes, added, "We are honored to be chosen by Durapower as its end-of-life battery partner. This partnership is a testament to the outstanding work by the SK Tes team and the trust placed in us to responsibly handle battery recycling."
For more information about SK Tes, visit our homepage.
Headquartered in Singapore, Durapower provides closed-loop, end-to-end energy storage solutions for electric mobility and renewable energy. Since 2009, Durapower has led innovations in lithium-ion cell technology, battery materials research and development, cell manufacturing, and system integration.
With operations in 23 countries and 48 cities — including Europe, China, India, and Southeast Asia — Durapower is committed to building scalable, sustainable batteries that support the circular economy and enable a carbon-neutral future.