Speaker 1: This is Dana Perkins and you're listening to Switched on
Speaker 1: the B and EF podcast. So, electric vehicle sales are
Speaker 1: growing all over the world, and while electric vehicles cut
Speaker 1: tailpipe emissions, there is a further opportunity to reduce the
Speaker 1: emissions associated with the embodied carbon found in the creation
Speaker 1: of the batteries themselves. So that leads us to the
Speaker 1: three point seven million metric tons of end of life
Speaker 1: batteries that could become available for recycling in twenty thirty five.
Speaker 1: That's enough to supply ten to eighteen percent of the
Speaker 1: key metals used for battery manufacturing. But just how well
Speaker 1: established are the existing battery recycling facilities and the policies
Speaker 1: that incentivize the recycling to actually take place. And how
Speaker 1: can we ensure that the recycling of components becomes an
Speaker 1: essential part of battery manufacturing, especially considering it has the
Speaker 1: potential to dramatically reduce the emissions associated with the batteries themselves.
Speaker 1: So to tell us more about battery recycling, I'm joined
Speaker 1: by Andy Leach. He's an associate from BNAFS Energy Storage Team.
Speaker 1: Andy reveals some of his key findings from a recent
Speaker 1: report titled Lithium ion Battery Recycling Market Outlook twenty twenty four,
Speaker 1: and he talks about the evolution of battery chemistries which
Speaker 1: will impact the longer term availability of metals and how
Speaker 1: they can be reclaimed in the recycling process, and why
Speaker 1: production scrap is actually one of the most important feedstocks
Speaker 1: for this space at the moment. To access this report,
Speaker 1: b and EF subscribers can find it on benf dot
Speaker 1: com or at BNOF on the Bloomberg terminal. Subscribe to
Speaker 1: the show for updates, or give us a review to
Speaker 1: share us with others. But right now, let's jump into
Speaker 1: our conversation with Andy. Andy, thank you for joining us
Speaker 1: on Switched on again today.
Speaker 2: Thank you very much for having me, Diana.
Speaker 1: We are here to talk about battery recycling, and, as
Speaker 1: I like to do at the beginning of pretty much
Speaker 1: every show these days, where we're getting into a technical process,
Speaker 1: explain what battery recycling is and how it's done.
Speaker 2: Sure, so, battery recycling is taking batteries which have been
Speaker 2: in electric vehicles and quid scale energy storage projects. These
Speaker 2: batteries can be dismantled, and they can be dismantled in
Speaker 2: a couple of different ways. So they can be taken
Speaker 2: apart and tested potentially for a second life, or they
Speaker 2: can be shredded before this point, or if they don't
Speaker 2: have any sort of use as a second life, they
Speaker 2: can be shredded after this point. Then the material that
Speaker 2: produced from this is called black mass. So this is
Speaker 2: a mixture of all different materials. This has lithium, nickel,
Speaker 2: cobalt depending on the battery chemistry, as well as other
Speaker 2: things like aluminium and copper. And then this black mass
Speaker 2: is processed in similar ways that sort of primary or
Speaker 2: virgin material will be processed to become the commodity salts
Speaker 2: or maybe even precursor materials to make new batteries.
Speaker 1: We're going to spend most of our time talking about
Speaker 1: the recycling end of things, but when you talk about
Speaker 1: second life, I want to know how much of the
Speaker 1: market is actually reused before it becomes recycling. When we're
Speaker 1: talking about vehicles specifically.
Speaker 2: So the second life market is much smaller because if
Speaker 2: a battery has had a full first life, the chances
Speaker 2: of its having sort of usable value and usable capacity
Speaker 2: for a second life is smaller. However, there are some
Speaker 2: exceptions to this, and one of those exceptions can be
Speaker 2: if a car company recalls some cars early because of
Speaker 2: a fault to do with battery packs, but maybe some
Speaker 2: of the cells in the battery packs are still good,
Speaker 2: this can mean that these percentages can be a bit higher.
Speaker 2: A notable example would be a couple of years ago
Speaker 2: GM recalling some of the Chevy Bolts. Some of these
Speaker 2: cars were recalled after any one or two years on
Speaker 2: the road. Now it's very likely that a lot of
Speaker 2: those cells will still have usable life in them. But yeah,
Speaker 2: it's not unheard or for car batteries to come back
Speaker 2: and go back into cars, but also going into energy
Speaker 2: storage projects as a very very sort of viable second
Speaker 2: life for sure.
Speaker 1: One of the reasons that battery recycling is so exciting
Speaker 1: is that it really reduces the emissions of those vehicles
Speaker 1: that actually have a recycled battery in it. There are
Speaker 1: so few things in the world that I think wouldn't
Speaker 1: benefit from recycling in terms of emissions. When you actually
Speaker 1: think about getting virgin materials out of the ground the
Speaker 1: muddles versus taking something that is already extracted and then
Speaker 1: converting it into something else. So when we think about
Speaker 1: how much of this is actually going to be happening
Speaker 1: in the future and potentially a decline in electric vehicle
Speaker 1: emissions overall. When we think of imbodied emissions in their
Speaker 1: second life, how big is the market going to be
Speaker 1: from battery recycling, Like how many batteries are going to
Speaker 1: be coming in? You know what do we see coming
Speaker 1: down the pipe?
Speaker 2: So for sure, if you're recycling a battery, the emissions
Speaker 2: associated with this are likely to be lower. So for
Speaker 2: a very obvious example is supply chain length. Right, So
Speaker 2: virgin materials and mines, they are where they are and
Speaker 2: we can't move them too much. If there's a lot
Speaker 2: of one material in one place, then you need to
Speaker 2: ship this around the world to get it to where
Speaker 2: it needs to be. Now, if you're producing an electric
Speaker 2: vehicle in Europe or North America and you can recycle
Speaker 2: batteries from those vehicles at their end of life in
Speaker 2: those regions, you can significantly reduce the supply chain and
Speaker 2: the sort of logistics there, which has an emissions benefit.
Speaker 2: Now you also have a benefit that you don't need
Speaker 2: to be digging this stuff out to the ground and
Speaker 2: moving a battery from an electric vehicle and shredding it
Speaker 2: has a lower CO two footprint than digging this out
Speaker 2: the ground and moving it around continents, and some some
Speaker 2: battery metals move around the world significant distances before getting
Speaker 2: into batteries.
Speaker 1: Can you give us an idea of the volume batteries
Speaker 1: that are actually going to be recycled in the future
Speaker 1: and essentially how many vehicles are, how big we see
Speaker 1: the electric vehicle space growing to in the near and
Speaker 1: medium term.
Speaker 2: Yeah, in the analysis that we did in this most
Speaker 2: recent report, we see approximately seven hundred and sixty seven
Speaker 2: gig or towers of battery materials available to recycle by
Speaker 2: twenty thirty five. Now in the report, we dig down
Speaker 2: and we compare this to the ratio of new demand
Speaker 2: for these materials. It varies by metals. So between lithium, nickel,
Speaker 2: and cobalt, the ones that we dug into, nickel and
Speaker 2: cobalt can be getting up towards eighteen percent of supply
Speaker 2: of these metals can be produced by recycling used batteries,
Speaker 2: and with lithium it's a little lower due to the
Speaker 2: different chemistries of different batteries that are used, and this
Speaker 2: is more around just below ten percent eight nine percent.
Speaker 1: And different battery chemistries are used for different purposes. What
Speaker 1: impact does the way the battery is used have on
Speaker 1: its life cycle and how often they will end up
Speaker 1: being recycled or does it really come down to the
Speaker 1: battery chemistry and what it is that the battery is
Speaker 1: made of before it then makes its eventual way to
Speaker 1: being recycled.
Speaker 2: Yeah, so there's two key factors as to how long
Speaker 2: it will take battery from going into use to coming
Speaker 2: to its end of life. So it's the use case,
Speaker 2: so how much you're using it, how many times you're
Speaker 2: charging and discharging it, And then it's the battery chemistry.
Speaker 2: For example, we would expect batteries in ebuses and commercial
Speaker 2: vehicles where these vehicles are maybe being used every single day,
Speaker 2: multiple times a day, to come to their end of
Speaker 2: life sooner than maybe in a passenger car where someone
Speaker 2: may use the car maybe only once a day, or
Speaker 2: maybe even less than once a day. The lifetime would
Speaker 2: be much longer. Here within the battery chemistries, the two
Speaker 2: sort of main groups of battery chemistries within litiumine batteries
Speaker 2: are going into cars and stationary storage projects LFP batteries
Speaker 2: Lithium I and phosphate batteries. These batteries don't contain any
Speaker 2: nickel and cobalt and therefore a slightly cheaper and they
Speaker 2: have a lower energy density, so their range in vehicles
Speaker 2: will be lower and compared to the nickel based chemistries,
Speaker 2: but they have a longer life cycle. They can have
Speaker 2: life cycles of six or eight thousand cycles or maybe
Speaker 2: even more. And if you're cycling your battery once a day,
Speaker 2: six or eight thousand cycles is getting close to twenty years.
Speaker 2: So maybe other factors come in there as well. And
Speaker 2: then so the nickel and cobalt based batteries they can
Speaker 2: be cycled maybe two to three thousand times, maybe slightly
Speaker 2: more for some high performance batteries, so this is about
Speaker 2: half that of the LFP or lithium im phosphate batteries.
Speaker 2: So the nmcs and the ncas using sort of higher range,
Speaker 2: higher performance cars, and so these batteries have a slightly
Speaker 2: shorter life cycle. And then again if you're using them
Speaker 2: in an application, maybe in a truck or a bus
Speaker 2: where you're driving around constantly all day every day, this
Speaker 2: can shorten it. So we have a few different assumptions
Speaker 2: in our analysis. Trucks and buses have some of the
Speaker 2: shortest assumed lifetimes around six to eight years.
Speaker 1: The companies that are taking this black mass though, and
Speaker 1: turning it into these new sets of batteries, are they
Speaker 1: the same companies that are actually manufactured the initial batteries
Speaker 1: or are they completely different companies that specialize in recycling.
Speaker 2: So there's a range. There really is a range. There's
Speaker 2: some companies that will take batteries, maybe test them as
Speaker 2: I said, or maybe just shred them straight away and
Speaker 2: produce black mass and that's the whole business. There's some
Speaker 2: companies that will take that black mass, process it into
Speaker 2: commodity metals or maybe precursor materials for other people to
Speaker 2: make the specialist chemicals. And then there's some companies that
Speaker 2: take this whole supply chain. They take batteries, they shred them,
Speaker 2: they turn them into the precursor materials, and then they
Speaker 2: produce cathod at the end, which they can sell to
Speaker 2: somebody making batteries. So there's a range of different business models.
Speaker 2: Some parts of the supply chain, or some parts of
Speaker 2: this processor may be more technical than others. Just shredding
Speaker 2: batteries is potentially maybe easier than producing cathode material, which
Speaker 2: maybe needs to go through qualification processes with battery manufacturers
Speaker 2: and OEMs at the end of this as well.
Speaker 1: So when we think about the parts of the world
Speaker 1: where this is really taking off, I'm thinking about the
Speaker 1: fact that electric vehicles have actually had higher rates of
Speaker 1: adoption in some regions over others. The US, it's started
Speaker 1: to get traction, But really China has been one of
Speaker 1: the earliest adapters of electric vehicles at scale. And what
Speaker 1: I want to know is then on the recycling end
Speaker 1: of things, as the batteries have started to get to
Speaker 1: the end of their useful life, is China then also
Speaker 1: leading the way in terms of battery recycling or is
Speaker 1: it other parts of the world that have decided to
Speaker 1: look at this as an opportunity and perhaps those batteries
Speaker 1: are being shipped to them.
Speaker 2: No, you're completely right. China is leading the way that
Speaker 2: their policy is leading and mandating things which Europe have
Speaker 2: been catching up with. As you mentioned, they also had
Speaker 2: much larger electric vehicle update sooner than Europe and North America,
Speaker 2: the three key regions that we looked at in this analysis.
Speaker 2: So yeah, the volumes in China are higher both on
Speaker 2: new batteries being made but also batteries coming to their
Speaker 2: end of life. The capacity for recycling batteries is larger
Speaker 2: in China as well.
Speaker 1: When I think about the companies that are actually looking
Speaker 1: to recycle these batteries, there are two things that they're
Speaker 1: more than likely thinking about, which is how easy is
Speaker 1: it going to be to get all of that important
Speaker 1: battery metal and then turn it into something else? And
Speaker 1: then also how expensive is it as a virgin material?
Speaker 1: So can you just talk a little bit about what
Speaker 1: are the metals a in a battery? But be that
Speaker 1: these recyclers are most keen to get their hands on
Speaker 1: in this process.
Speaker 2: So the metals that there's three key metals that are
Speaker 2: most most sought after by the recycling companies, and that
Speaker 2: is lithium, cobolt, and nickel. It's due to what you're
Speaker 2: mentioning here the cost of these materials. They are key
Speaker 2: drivers into battery prices. And lithium, for example, recently, we
Speaker 2: saw very high prices a year or two ago and
Speaker 2: this has come down a bit. So this is not
Speaker 2: a great sign of your producing this material. But nickel
Speaker 2: and cobalt that prices are, yeah, they're still some of
Speaker 2: the more expensive materials going into batteries. And these are
Speaker 2: the three key things that There are other metals in batteries,
Speaker 2: as I mentioned earlier, there's copper, there's aluminium, there's iron
Speaker 2: as well, but the ones that most battery recycling companies
Speaker 2: are focusing on are lithium, cobolt, and nickel. And how
Speaker 2: much of the new demand that the recycled material can
Speaker 2: supply is very much due to changing battery chemistries. So
Speaker 2: we've seen recently LFP, lithium I and phosphate which doesn't
Speaker 2: contain nickel and cobalt become more popular, starting in China
Speaker 2: but also around the rest of the world. And this
Speaker 2: is meant that more nickel and cobalt supply can be
Speaker 2: met with recycled material relative to lithium because apart from
Speaker 2: sodium ion, which is a small and grown segment of
Speaker 2: the market, all of the batteries contain lithium that we're
Speaker 2: talking about here for electric vehicles and good scale projects. Therefore,
Speaker 2: this is very much a very key focus for recycling companies.
Speaker 1: So let's talk a little bit about the economics and
Speaker 1: battery recycling, because the companies need to be incentivized either
Speaker 1: by being able to make the batteries more cheaply or
Speaker 1: policy incentives So in this circumstance, what is it. Is
Speaker 1: it policy or is it economics that are driving these
Speaker 1: companies to really grow in this market.
Speaker 2: I think it depends in which region that we're looking at.
Speaker 2: In China, for example, there has been policy since twenty
Speaker 2: eighteen and there are mandates around collecting batteries at their
Speaker 2: end of life and once you collect that battery, how
Speaker 2: much of them materials inside that you recover when you
Speaker 2: recycle it. And this is very much driving the industry
Speaker 2: in China, and as I said, there is a lot
Speaker 2: of capacity there, but there's also a lot of material
Speaker 2: to recycle. Europe has a similar approach. Unfortunately, the incentives
Speaker 2: are coming slightly later, although because the electric vehicle market
Speaker 2: took off slightly later, and maybe this lines up quite
Speaker 2: well here. But yeah, starting in twenty twenty seven and
Speaker 2: twenty twenty eight, there are collection efficiency targets and recovery
Speaker 2: rate targets for sort of collecting the batteries at the
Speaker 2: end of life when they've been in a vehicle and
Speaker 2: then recycling those materials and getting them back out. In
Speaker 2: the US, which is the third region that we looked into,
Speaker 2: there are some benefits via the inflation Reduction Act for
Speaker 2: recycling material although not as significant as the benefits offered
Speaker 2: to producing new batteries and battery packs in the region.
Speaker 1: So, Andy, how does that actually work in practice? What
Speaker 1: part of the battery value chain does the policy target?
Speaker 2: So this is a really good question because the answer
Speaker 2: isn't straightforward. We don't really know at the minute, particularly
Speaker 2: with the policy in the EU. I've had a lot
Speaker 2: of questions from people that I've been working with and
Speaker 2: clients well around is it going to be on the
Speaker 2: battery manufacturer to do this? Is it going to be
Speaker 2: on the car company to do this? The E policy
Speaker 2: isn't clear on this, and we need to wait for
Speaker 2: policy to come. It's likely that it will be related
Speaker 2: to the car company. It makes more sense because they're
Speaker 2: closer to the consumer. However, they need to get the
Speaker 2: vehicle back from the customers who then own it, so
Speaker 2: the process here is not straightforward.
Speaker 1: I know they're using blockchain for some of the virgin
Speaker 1: materials that are being mined. Are they using any sort
Speaker 1: of solutions like that to actually track these batteries to
Speaker 1: make sure that they're getting them back and they are
Speaker 1: being recycled.
Speaker 2: So, again, this is a regional question. I'll start with
Speaker 2: the US because it's straightforward that they're not doing it. No.
Speaker 2: In China, there are requirements to trace and report batteries
Speaker 2: through the sort of manufacture, through their lifetime and seeing
Speaker 2: where they end up at their end of life. And
Speaker 2: then this is something that the EU is planning to
Speaker 2: do but isn't enforced yet. So in twenty twenty six
Speaker 2: this will be required in the EU as.
Speaker 1: Well in every market. For it to be viable on
Speaker 1: its own, from an economic standpoint, you need a bit
Speaker 1: of a supply and demand balance, and in this industry
Speaker 1: there is a bit of an imbalance when we think
Speaker 1: about the number of recycling facilities, in particular in China
Speaker 1: that are scheduled to be built, and with the forecast
Speaker 1: that you've done when looking at this report, are there
Speaker 1: going to be enough batteries to be recycled in order
Speaker 1: to meet this demand? And why or why not?
Speaker 2: There is a bit of an imbalance here. The material
Speaker 2: available to recycle from ESS and EV batteries is significantly
Speaker 2: lower than the capacity that's being built, particularly in the
Speaker 2: Asia Pacific region which is largely dominated by China. But
Speaker 2: also that there is capacity being built in Europe and
Speaker 2: North America. One of the reactions to this that we've
Speaker 2: seen is companies who have recycling facilities also looking to
Speaker 2: process primary material as well. Because some of the processes
Speaker 2: are quite similar, it's possible to process both primary and
Speaker 2: recycled material in some of the same facilities and some companies.
Speaker 2: So so if you're a company going as far as
Speaker 2: making precursor materials to make cathodes from, for example, and
Speaker 2: your recycling material which was maybe NMC sixty two to two,
Speaker 2: which was very popular a few years back, so six
Speaker 2: to two being the ratio of the metals, so sixty
Speaker 2: percent nickel, twenty percent cobalt, twenty percent manganese in the
Speaker 2: cathode there and customers now want NMC eight one to one,
Speaker 2: so eighty percent nickel, ten percent manganese, ten percent cobalt.
Speaker 2: The recycling companies are actually using primary material to add
Speaker 2: nickel to this ratio to make sure that they can
Speaker 2: give the customers what they want. So even in some
Speaker 2: inverted commas ideal scenarios, primary material is being added to
Speaker 2: the recycling mix. But that's also not to say that
Speaker 2: if there is too much capacity in the recycling world
Speaker 2: that some of this couldn't be used to process primary
Speaker 2: material as well.
Speaker 1: And also, what's the degree of overlap with consumer electronics
Speaker 1: which also rely on batteries.
Speaker 2: This is a really good question. So consumer electronics batteries
Speaker 2: are potentially harder to collect because there are many smaller batteries,
Speaker 2: but companies are also looking to process these as well.
Speaker 2: The analysis that we did in this report focuses on
Speaker 2: electric vehicle and energy storage projects, so that's not to
Speaker 2: say that consumer electronics batteries could also end up in
Speaker 2: the mix. However, there are lots of smaller batteries which
Speaker 2: are spread out more in the world. As it were,
Speaker 2: collecting one phone will give you a significantly smaller battery
Speaker 2: to recycle than collecting one car or even one grid
Speaker 2: scale energy storage project. And also the demand of electric
Speaker 2: vehicles and energy storage projects in the future will be
Speaker 2: significantly higher in the near term and then maybe in
Speaker 2: the near future. The consumer electronics market was a bigger
Speaker 2: percentage of global demand of batteries, but that's likely to
Speaker 2: be dwarfed in the very near future.
Speaker 1: So no manufacturing process is fully zero waste. I'm even
Speaker 1: thinking of right now in my mind, like when you're
Speaker 1: baking a apple pie, and you've got all of this
Speaker 1: kind of extra dough around the edge, and then you know,
Speaker 1: if you're my grandmother, you're going to turn it into
Speaker 1: something else and you're going to cover it with cinnamon sugar.
Speaker 1: But the reality is there's going to be some leftover
Speaker 1: materials and metals when it comes to battery manufacturing and
Speaker 1: then the process that goes into it. What happens to
Speaker 1: all of that leftover stuff, which I believe is referred
Speaker 1: to as reduction scrap.
Speaker 2: This is a really great question, and you're right. We
Speaker 2: refer to it in the research as production scrap, and
Speaker 2: this is just sort of one segment that we refer to.
Speaker 2: But actually within this there's loads of different things that
Speaker 2: this can mean. This can mean powders that sort of,
Speaker 2: as you say, maybe they don't make it into the
Speaker 2: apple pie as it were. This can be slurries that
Speaker 2: get left behind on equipment as well. This can be
Speaker 2: cathos which are then coated. But the offcuts of this,
Speaker 2: This can be batteries that get fully made but they
Speaker 2: don't pass the quality controls. So this can come in
Speaker 2: a number of different flavors, and in the near term
Speaker 2: we expect this to be a very significant share. I
Speaker 2: think in twenty twenty four, eighty percent of material available
Speaker 2: to a cycle is to come under this umbrella of
Speaker 2: production scrap due to the very rapid growth that we've
Speaker 2: seen over the past few years of battery demand, and
Speaker 2: that the longer lifetimes that we're seeing. The last time
Speaker 2: we did this analysis, the average lifetime of batteries was
Speaker 2: about two years less when you extend the lifetime of
Speaker 2: batteries in use, and then you have to go back
Speaker 2: another couple of years on that demand curve. So in
Speaker 2: twenty twenty four, if you're saying a ten year lifetime
Speaker 2: for a passenger EV, you're going back to twenty fourteen,
Speaker 2: and there weren't a lot of passenger evs on the
Speaker 2: road in twenty fourteen. Now, if you compare that to
Speaker 2: production scrap for new material, and in this work we
Speaker 2: assumed a ten percent rate of scrap coming off factories,
Speaker 2: this goes down to lower percentages, and we sort of
Speaker 2: split that out by regions, So regions like China where
Speaker 2: there's a more mature battery manufacturing industry getting down to
Speaker 2: lower percentages sooner. But even with a scrap rate of
Speaker 2: ten percent, which tapers off. Eighty percent of current material
Speaker 2: available to recycle is material that never made it into
Speaker 2: a functioning battery in the first place.
Speaker 1: So when we're talking about a potential supply and demand
Speaker 1: imbalance in the future when it comes to battery recycling,
Speaker 1: we need to be thinking more broadly about more than
Speaker 1: just the batteries that are at the end of life,
Speaker 1: but also think about this production scrap to think about
Speaker 1: the whole potential for some of these facilities. As we
Speaker 1: think about the future and we think about the uptake
Speaker 1: for electric vehicles, there will be more demand for recycled batteries,
Speaker 1: and there's going to be more demand for batteries that
Speaker 1: are made from raw materials. Is there any concer on
Speaker 1: the part of a battery manufacturer, is that the recycling
Speaker 1: side of things is going to cannibalize some of their
Speaker 1: business or is this just so much growth in the
Speaker 1: future that nobody's kind of looking at each other.
Speaker 2: I think at the moment, the demand is growing so
Speaker 2: rapidly that I think we need supply from all different directions,
Speaker 2: and ultimately, if we're going to get a sustainable future
Speaker 2: and a greener future, we need to rely more on
Speaker 2: recycling things. Than digging things out of the ground. Now
Speaker 2: that's not to say that we don't need to continue
Speaker 2: digging things out to the ground and being better at
Speaker 2: doing that in a greener way. But in the near term,
Speaker 2: I mean, in this report, for example, I think eighteen
Speaker 2: percent of nickel and cobalt can be supplied from recycled
Speaker 2: material by twenty thirty five. That still means that we
Speaker 2: need eighty two percent of the nickel and cobalt demand
Speaker 2: to be coming from minds.
Speaker 1: So, Andy, last question. We had a great time in
Speaker 1: this show today really getting a lay of the land
Speaker 1: on what's actually happening in battery recycling. But I know
Speaker 1: that you're going to take a closer, deeper look on
Speaker 1: a number of different topics. What's coming up for you
Speaker 1: in digging deeper in battery recycling.
Speaker 2: So this this piece of research looks at the market
Speaker 2: size and the available material to recycle, as well as
Speaker 2: some of the policy driving this in New York, China,
Speaker 2: in the US. Coming up, we'll do a deeper dive
Speaker 2: on some companies and the different technologies to recycle. Main
Speaker 2: technologies being pyrometallurgy and hydrometallurgy. Similar to processing primary material However,
Speaker 2: there are other processes, electrochemical methods and more innovative methods
Speaker 2: and more niche methods for processing material as well, which
Speaker 2: we'll dig into and highlight some of the companies doing
Speaker 2: this work.
Speaker 1: Okay, well, we can find out more about the companies
Speaker 1: that are taking a closer look. Andy, thank you so
Speaker 1: much for joining today.
Speaker 2: Thank you very much for having me.
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