The global battery recycling market was valued at around $10 billion last year, according to new figures published by Transparency Market Research and is projected to reach $11.83 billion by 2022. Analysts predict a compound annual growth rate of 11% between now and 2026 owing to the large number of batteries in use and strong demand from the replacement market.
Working in partnership with Cambridge University, Aurelius is developing a cleaner, better process to recycle lead acid batteries to harness hazardous waste as a raw material and produce purer chemical products for re-use. The £1.5m funding will be used by Aurelius to purchase new machinery to improve efficiencies, reduce the company’s carbon footprint and help to support its sustainable development strategy and strong social and economic ethos.
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