Concerns about climate change and air pollution are triggering decarbonization of the energy and mobility sectors. Battery energy storage technology is a key enabler for the transition from fossil-based to renewable (solar and wind) power generation and from internal combustion engine-powered vehicles to battery-powered vehicles.
An industry centered around industrial battery recycling and repurposing is emerging. With hundreds of millions of lithium ion batteries being deployed in the energy and mobility markets, concern about what happens when they reach the end of life is growing, particularly from the perspectives of safety, environmental protection and recovery of precious materials.
Lithium ion batteries are Class 9 hazardous materials and are subject to the US EPA Resource Conservation and Recovery Act when destined for end-of-life treatment. As such, strict regulations regarding their collection, transportation, aggregation, sorting, recycling or repurposing apply when they come off the market. It is estimated that by 2030, 11 million tons of lithium ion batteries alone will have to be recycled.
This emerging battery recycling and repurposing industry is built on compliance — not only with federal, state and local regulations, but also in accordance with best environmental stewardship standards. For instance, Renewance does not condone exporting waste batteries for trade to developing countries where they may ultimately end up in a landfill. Our mission is to help you repurpose or recycle in an environmentally appropriate manner. The market for repurposed precious battery materials has been estimated at over $8 billion annually.
Why is finding compliant yet cost-effective recycling or repurposing solutions so difficult? Complex global, regional and local legislation, combined with the variety of battery chemistries, form factors and use cases, makes it difficult for many owners of waste batteries to find qualified service providers to deliver compliant, environmentally safe battery end-of-life disposition solutions.
Finding the right solutions and service providers is challenging, but it must be done. The consequences of unintended noncompliance can be severe, ranging from steep monetary fines to imprisonment and reputational damage from negative press coverage. That’s where Renewance comes in.
Renewance is driven to make the battery energy storage sector more sustainable. We offer environmentally responsible solutions for efficiently and compliantly managing industrial battery assets throughout their life cycle, and we’re here when you’re ready to outsource end-of-life liability management. We are a highly trusted third party in the recycling and repurposing battery industry.