- Date 5 May 2021
Johnson Matthey, a global leader in sustainable technologies, has concluded a Memorandum of Understanding with Stena Recycling Group, a leading recycler of industrial waste and end of life products, to develop an efficient value chain in Europe for recycling of lithium ion batteries and cell manufacturing materials.
Sales of electric vehicles increased 43% globally in 2020 as battery costs have declined, helping to make EV cars more affordable1. Decarbonising transportation is a critical step in helping societies and industries meet their ambitious net zero emission targets. Electric vehicles consequently have the potential to significantly contribute to the tackling of the climate crisis.
The quantity of lithium ion batteries used in vehicles and power storage is expected to increase nearly ten-fold in the next decade, from 260Gwh in 2020 to 2,500Gwh in 20302. This will result in an exponential increase in demand for recycling, which is essential to recover critical metals such as lithium, nickel and cobalt, reducing the carbon footprint of battery electric vehicles.