Pestech International Bhd has teamed up with Singapore-based Green Li-Ion Pte Ltd to explore the possibility of collaborating in lithium-ion battery recycling activities and businesses in Malaysia and Cambodia.
In a bourse filing, the integrated electrical power technology company said it has entered into a memorandum of understanding (MoU) with Green Li-Ion on the proposed collaboration. Green Li-Ion has developed a patented multi-cathode processor called GLMC-1, which recycles spent lithium-ion batteries directly into 99.9% pure cathodes, speeding up the current recycling process at a lower cost.
“Under the MoU, Pestech will conduct the necessary due diligence on the technical and financial viability of the GLMC-1 LION Batteries recycling solutions, and if found feasible, proceed further with the execution of an exclusive affirmative collaboration agreement for the region with Green Li-Ion for the establishment of a lithium-ion battery recycling facility,” it added.