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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Sangjin] On September 9, SK Ecoplant announced through the electronic disclosure system that it has sold all of its 9.22 million shares in Ascend Elements to SKS Private Equity (SKS PE) for $98.23 million (approximately 131.6 billion won).
Ascend Elements is a U.S.-based company specializing in battery recycling. SK Ecoplant had previously acquired its stake in Ascend Elements for $60.84 million.
With this sale, SK Ecoplant aims to streamline its recycling and other business portfolios. The company plans to enhance its recycling operations through its subsidiary, SK TESS, focusing on growing IT asset disposition (ITAD) services in response to increased demand for AI. Additionally, SK Ecoplant will strategize to capture the market for battery recycling through global facilities.
In response to the surge in data center demand driven by AI, SK TESS is significantly expanding its ITAD facilities. The company operates a hyperscale plant in Virginia, USA, capable of processing up to 600,000 servers annually. This plant securely destroys data from data center servers' hard drives and memory, facilitating reuse and recycling.
SK Ecoplant also anticipates generating high added value through collaboration between its subsidiary Essencore and SK TESS. Essencore, a semiconductor module company based in Hong Kong, can refurbish IT assets processed through ITAD and resell them or break them down into components or materials.
In the electric vehicle battery recycling market, SK Ecoplant plans to explore new directions using its established infrastructure in North America while increasing the utilization of facilities in Europe and Asia. The sale is expected to enhance financial stability by securing over 130 billion won in liquidity.
AlphaBIZ Kim SangJin(letyou@alphabiz.co.kr)
