GLC Recycle to supply XTC New Energy with 10,000 tonnes lithium carbonate over 3 years

• GLC Recycle and XTC New Energy partner to promote sustainable battery recycling and resource utilization
• GLC will supply XTC with Eco-Series battery raw materials
• Partnership creates closed-loop system for battery resources, accelerating the transition to a green circular economy.

SINGAPORE, Feb. 6, 2024 /PRNewswire/ -- February 2nd, GLC Recycle, a global leader in battery recycling announced another new partnership to produce critical minerals essential for green energy transition.

It will partner XTC New Energy Materials (Xiamen) Co., Ltd. (XTC New Energy), a leading Chinese manufacturer of new energy materials, to promote closed-loop recycling and utilization of battery resources.

Battery Waste Recycling:

XTC New Energy will have opportunities to purchase at least 10,000 tonnes of crude lithium carbonate produced by GLC from used battery recycling over the next three years. This closed-loop system ensures responsible end-of-life management for batteries and reduces reliance on virgin mining resources.

GLC Recycle and XTC New Energy's partnership will support the production of eco-friendly batteries with a lower carbon footprint and establish a sustainable battery supply chain that minimizes environmental impact and maximizes resource efficiency.

GLC Recycle utilizes AI-powered technology to recycle used batteries and electronic products, producing traceable low-carbon eco-battery raw materials. XTC New Energy, with its strong expertise in developing and manufacturing lithium-based battery materials, provides the perfect downstream partner for GLC's recycled resources.

The partnership will focus on two key areas:

"This partnership is a significant step forward in our mission to create a more sustainable battery ecosystem," said Mr Yang Mingdong, CEO of GLC Recycle. "By combining our expertise in recycling with XTC New Energy's manufacturing capabilities, we can offer customers truly green battery solutions while contributing to China's carbon neutrality goals."

Mr Yang Jinhong, Chairman of XTC New Energy, added: "We are excited to partner with GLC Recycle and leverage our respective strengths to build a more circular and responsible battery supply chain. This collaboration not only benefits the environment but also strengthens our position as a leading provider of sustainable new energy materials."

The strategic framework agreement between GLC Recycle and XTC New Energy marks a significant development in the battery recycling industry. By working together, both companies aim to set a new standard for responsible battery management and contribute to a greener future.

About GLC Recycle

GLC Recycle is a global leader in battery recycling. The company uses artificial intelligence-based technology that recycles waste batteries and electronics to produce traceable low-carbon eco-battery raw materials. GLC Recycle is committed to sustainability, social responsibility, and collaborates with partners throughout the battery supply chain to ensure that batteries are recycled in a responsible manner. Further information is available on the Internet at www.glcrecycle.com.

About XTC New Energy

XTC New Energy is an important manufacturer of cathode materials for lithium-ion batteries in the world, and its main business is the research and development, production, and sales of cathode materials for lithium-ion batteries. The main products are lithium cobalt oxide, NCM nickel-cobalt-manganese ternary materials, etc. In the last three years, the production capacity and shipments of lithium-ion battery cathode materials are in the forefront of the industry.

SOURCE GLC Recycle