With the help of a loan of up to €25 million from the European Bank for Reconstruction and Development (EBRD), Poland will become the site of the first facility in the European Union (EU) for recycling both car batteries and other waste containing metals, in response to the rapid rise of electric vehicles. The EBRD financing for Elemental Holding will be part of a wider package raised to finance the construction of the pioneering facility, which will be one of the first in the world to treat spent lithium-ion batteries for electric vehicles and other waste containing metals that are critical for e-mobility.
Elemental Holding is a Polish company engaged in the collection and recycling of platinum-group metals and electrical waste and has a worldwide presence. The company has operations in Poland, other European countries, the Middle East, and the US.
“This is an outstanding example of how new technology and progress with the green economy are working hand in hand. The EBRD is actively supporting Poland’s ambitious agenda to become a low-carbon economy and has already financed several large e-mobility projects with domestic and foreign investors” Frederic Lucenet, EBRD Director, Manufacturing and Services, said.
“The project reflects the strategy of Elemental Holding focusing on the recovery and refining of critical raw materials, with the application of low-carbon-footprint technology and innovations,” Michal Zygmunt, Vice-President of Elemental Holding, added.