Ecobat Acquires EV Lithium Battery Recycler Promesa
The demand for EV lithium-ion battery recycling continues to accelerate worldwide and is expected to be worth $4.7 billion in 10 years. To address this demand, battery recycler Ecobat recently acquired Promesa, an EV lithium-ion battery recycling operator based in Hettstedt, Germany.
“The addition of the Promesa team means Ecobat is the only provider in Europe with the capability to offer our customers the full suite of recycling services for lithium-ion batteries from collecting, discharging and dismantling batteries to crushing and sorting them and arranging for black mass disposal,” said Jimmy Herring, Irving, TX-based Ecobat’s president and chief executive officer. “Building on this acquisition, Ecobat will continue to expand our position in the lithium-ion battery recycling space with future investment plans underway to increase capacity at our Promesa facility and to build out additional dismantling capabilities across Germany.”
Promesa’s location in the vehicle manufacturing and lithium battery center of Germany provides Ecobat a crucial entry point in a critical market for battery access and OEM factory scrap. EV Li-ion battery recycling is growing in Europe at a compound annual growth rate of 31.6 percent.
Additionally, Promesa will provide Ecobat with access to business-critical permits for 3,200 tons of chemical compounds. These contracts cover a broad range of waste materials associated with a variety of battery chemistries from household to electric vehicle, positioning Ecobat for numerous growth opportunities.
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.
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