Retriev Buys Michigan’s Battery Solutions
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Indianapolis-based lithium battery recycler Retriev Technologies has acquired Michigan-based Battery Solutions. While financial terms of the deal were not disclosed, Retriev says the combination creates the first and only comprehensive battery management solution in North America.
The acquisition includes Battery Solutions’ 95,000-square-foot facility in Michigan, and a 60,000-square-foot facility in Arizona. Both facilities are used for processing, sorting, fulfillment, logistics and storage.
“The opportunity to deliver upon North America’s need for an end-of-life reuse solution for batteries that involves critical materials recycling at scale creates an extremely competitive value chain for the United States,” said David Klanecky, who was named chief executive officer of Retriev Technologies earlier this month. “Our combined assets and talented team enable us to be the only player in the industry that has the capability to collect, transport, sort and process every type of battery at every touchpoint from the end of one life cycle to the beginning of another. This creates a substantial material ‘resource’ for auto OEMs and battery manufacturers in the circular supply chain.”
Battery Solutions provides services for the end-of-life battery life cycle for electric vehicles, telecommunications, consumer collection, and waste management sectors, among others.
Retriev operates battery recycling and sorting facilities in Ohio and California, as well as British Columbia.
“Global EV and electrification trends are accelerating at rates that both drive scarcity of natural resources on the front end and necessitate careful end-of-life management to harness recycled natural resources,” said Thomas Bjarnemark, CEO of Battery Solutions. “Contributing to the circular economy model is a core focus of Battery Solutions, and this integration with Retriev brings us a huge step closer to making that a reality.”
Last year, Retriev merged with Heritage Battery Recycling to form what it says is the largest lithium-ion battery recycler in North America.