From left: Sirim industrial research senior vice-president Mohd Azanuddin Salleh, Sirim president and group CEO Datuk Indera Ahamad Sabirin Arshad, Ni Hsin chairman Sofiyan Yahya, Ni Hsin EV tech managing director Steven Khoo Chee Kong and executive director Rizvi Abdul Halim
KUALA LUMPUR: Ni Hsin Group Bhd's subsidiary Ni Hsin EV Tech Sdn Bhd has entered into a collaboration with Sirim Bhd for the setting up of a lithium-ion battery (LIB) recycling plant in Malaysia through a public-private partnership funding model.It said the partnership will also explore the provision of an eco-system for a circular economy model in mitigating the impact on the environment as a result of LIB being processed illegally in Malaysia, the potential for setting up a lithium-ion battery manufacturing plant in Malaysia and introducing a lithium-ion battery recycling policy working with the Malaysian government.
“The setting up of an LIB Recycling Plant is the right step in furthering Ni Hsin’s green mission in support of the government’s commitment towards a more sustainable, resilient and inclusive development in line with the United Nations’ 2030 Sustainable Development Goal (SDG)," said Ni Hsin EV tech managing director Khoo Chee Kong in a statement.
He said the current LIB recycling market is estimated to be worth around US$1.7bil and is expected to increase significantly over the next 10 years.
According to the statement, the Sirim-Ni Hsin LIB recycling pilot plant will be fully operational in 2023 with an annual recycling capacity of 550 tonnes of LIBs.
For a start, the output will be sold to lithium-ion batteries manufacturers in the form of black mass.
"In the Asean region, there is only one such recycling facility in Singapore with a recycling capacity of 14 tonnes of LIB per day.
"Being one of the first movers in this region makes Ni Hsin more attractive to investors who are beginning to consider sustainability factors in their investment decision-making process,” said Khoo.
Sirim president and group CEO Datuk Indera Ahmad Sabirin Arshad added that Sirim is ready to work with any parties that are keen to explore any form of recycling business where it can contribute in terms of the latest technologies towards building the local recycling capabilities for e-waste.
“Under this collaboration both companies will focus on the recovery of precious metals such as lithium and cobalt in 2024 and embark on lithium-ion battery manufacturing 2025, when the volume by processing more lithium-ion batteries from other nations,” he added.
