GLC Recycle Finalizes Agreement for Lithium Carbonate Supply

Singapore-based GLC Recycle, a recycling facility operator in Laos, has recently entered into an agreement to supply Xiamen, China-based XTC New Energy with 10,000 metric tons of lithium carbonate over a span of three years. Describing XTC New Energy as a prominent Chinese manufacturer specializing in new energy materials, GLC Recycle emphasizes that this collaboration aims to foster closed-loop recycling practices and the efficient utilization of battery resources.

Utilizing what it terms "AI-powered technology," GLC Recycle focuses on recycling used batteries and electronic scrap. The company's innovative process, according to its statements, generates traceable, low-carbon eco-battery raw materials. The partnership with XTC New Energy represents a significant stride in GLC Recycle's mission to establish a more sustainable battery ecosystem. Yang Mingdong, the CEO of GLC Recycle, emphasizes that the collaboration, which combines recycling expertise with XTC New Energy's manufacturing capabilities, is poised to provide customers with environmentally friendly battery solutions while contributing to China's carbon neutrality objectives.

Yang Jinhong, the board chair of XTC New Energy, expresses excitement about the collaboration, highlighting the intention to leverage each party's strengths to build a more circular and responsible battery supply chain. This strategic partnership, according to Jinhong, not only benefits the environment but also strengthens XTC New Energy's position as a leading provider of sustainable new energy materials.

Under the terms of the agreement, XTC New Energy gains the opportunity to purchase a minimum of 10,000 metric tons of crude lithium carbonate produced by GLC Recycle from used battery recycling over the next three years. This initiative aligns with GLC's commitment to fostering environmentally conscious practices within the battery industry.

XTC New Energy, with a business focus on research and development, production, and sale of cathode materials for lithium-ion batteries, operates in multiple regions, including China, Australia, and Chile. The company's involvement in the lithium-ion battery sector positions it strategically in a global market with increasing demand for sustainable energy solutions.

GLC Recycle, established in 2022, operates a processing facility in Laos with the capacity to produce 4,500 metric tons per year of recycled-content lithium carbonate, along with 24,000 metric tons per year of recycled-content nickel and cobalt hydroxide. The facility's capabilities align with the growing emphasis on responsible sourcing and recycling of critical materials in the battery supply chain.

The collaboration between GLC Recycle and XTC New Energy represents a symbiotic relationship aimed at advancing sustainable practices in the lithium-ion battery industry. By combining their strengths in recycling and manufacturing, the two companies seek to contribute to the circular economy and support China's ambitions for carbon neutrality. As they work towards creating more environmentally friendly battery solutions, this partnership stands as a testament to the industry's commitment to innovation and responsible resource management.