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[Alpha Biz=(Chicago) Reporter Kim Jisun] GS Energy has invested 82.8 billion won in a battery recycling joint venture with POSCO and is preparing for a full-fledged business. GS Energy is also actively seeking to secure future food such as recycling waste batteries and charging electric vehicles by investing 12.7 billion won.
According to related industries on the 30th, GS Energy is scheduled to issue green bonds worth 100 billion won on June 8.
GS Energy will invest 82.8 billion won in POSCO GS Materials, a joint venture for recycling waste batteries (JV) with POSCO Group.
GS Energy announced in October last year that it would invest 170 billion won with POSCO to establish POSCO GS Materials to expand its waste battery recycling business. The share ratio is GS Energy 49 vs. POSCO 51.
POSCO Group is expected to execute funds on POSCO GS Materials at the same rate and prepare for full-fledged business promotion in time for GS Energy's injection of funds.
The battery recycling market is expected to grow further in the future as the use of battery recycling materials will be mandatory from 2030, including Europe. Electric vehicle batteries end their lives between 5 and 20 years after production. The recycling market, which secures key raw materials such as nickel and lithium by recycling waste batteries, is expected to surge in the future.
SNE Research predicts that the waste battery market will surge to 70 trillion won in 2030, 230 trillion won in 2040 and 600 trillion won in 2050.
The joint venture will also secure stable waste batteries and build a new industrial ecosystem related to secondary battery recycling. In addition to the secondary battery recycling business, which collects waste batteries and extracts raw materials, the company plans to enter the secondary battery life cycle business (BaaS business) such as secondary battery diagnosis and reuse.
In addition, GS Energy plans to use 12.7 billion won of the funds secured through the issuance of the bonds to secure an additional stake in GS Connect, a subsidiary of the electric vehicle charging business.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
