Battery remanufacturing is a big opportunity for the environment and economy
Remanufacturing batteries is a big opportunity, both from an environmental and economic perspective. From an environmental perspective, batteries contain hazardous materials such as lead, cadmium, and mercury that can contaminate soil and groundwater if not properly disposed of. Remanufacturing these batteries prevents these materials from ending up in landfills or being released into the environment, which can have harmful effects on both human health and the environment. From an economic perspective, remanufacturing batteries can recover valuable metals and other materials that can be used in the production of new batteries and other products. This reduces the reliance on mining for raw materials, which can be expensive and have negative environmental impacts.
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In recent years, the demand for batteries has increased significantly due to the growth in electric vehicles, energy storage systems, and portable electronic devices. As a result, the market for battery remanufacturing is also growing rapidly, and there is a lot of potential for innovation and investment in this space. Overall, remanufacturing batteries presents a great opportunity to promote sustainability and a circular economy, while also creating economic value and promoting innovation.
The scenario in Europe
In 2050, Europe is expected to generate over €6 billion in revenue from recycling electric vehicle batteries. Currently, the remanufacturing capacity for these batteries in Europe is around 80,000 tons per year, while the volume of batteries to be recycled is expected to reach 3.4 million tons by 2050. Remanufacturing nickel, cobalt, and lithium from these batteries will make Europe more independent in terms of the extraction and processing of related raw materials. EU regulations make it mandatory to remanufacture electric vehicle batteries, and the demand for recycled material is expected to grow, driven by new targets for minimum recycled content in batteries. Electric vehicle batteries can only have one fate after use: remanufacturing.
This is provided for by Directive 2006/66/EC, which makes electric mobility a clear example of the circular economy. After being used on board cars, vans, or other vehicles, the batteries are first given a second life for stationary public or private applications - in support of electric grids and renewable sources - before being recycled to recover all the precious materials they contain. This is a business with great development prospects, in which Europe can play a leading role. Moreover, the turnover can be further expanded, and more quickly, by importing batteries to be recycled from abroad. Thanks to the new EU targets on the minimum content of recycled materials in electric vehicle batteries, by 2050 there will be around 3.4 million tons of batteries at the end of their second life ready to be remanufactured in Europe, compared to the current remanufacturing capacity that does not exceed 80,000 tons/year.
The space for industry and creating new jobs is enormous. In addition to creating a whole new supply chain, with all the economic, employment, and environmental benefits that come with it.
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