Original article published by Yahoo Finance
PASADENA, Calif., Sept. 28, 2021 /PRNewswire/ -- Today, Power Global, a leading provider of high-performance clean energy and mobility products for everyday applications, announced two new MOUs with stationary storage integrator PositivEnergy and battery recycling processor Redivivus that support Power Global's roadmap to reinvent the lifecycle of lithium-ion batteries.
"Despite the significant benefits lithium-ion batteries have over incumbent energy sources like internal combustion engines (ICE) or lead-acid, there are key gaps in the supply chain – namely lifecycle and recycling – that are only now being addressed in the early markets in developed nations," said Pankaj Dubey, CEO of Power Global's India subsidiary. "Our goal was to bake those aspects into our strategy from the beginning so that countries like India, which are now on the path to electrification, have a chance to leapfrog those challenges and advance quickly and more sustainably."
In regions like India, most electrified three-wheelers are powered by lead-acid batteries or lithium-ion batteries imported from China. To support India's in-country battery manufacturing capabilities, Power Global, in tandem with local cell manufacturers, will develop a 100% made-in-India electric battery module. These battery modules are central to Power Global's Energy-as-a-Service (EaaS) program, which will provide battery swap kiosks at select locations throughout India and allow Power Global to oversee the battery lifecycle from application to second life.
In addition to powering EVs, Power Global has partnered with PositivEnergy, a renewable energy solutions company that provides end-to-end system design and service for commercial energy storage and EV charging infrastructure, to develop stationary storage solutions that support projected grid demand from electrification and enable the renewable energy transition in diverse global markets. Built upon Power Global's scalable battery technology, the stationary storage solution is expected to achieve an industry-leading 15-20 year product lifespan. The full solution will be integrated by PositivEnergy and backed by their bankable performance guarantee, PositivCareTM, reducing the barriers to entry for renewable energy adoption in all markets.
"PositivEnergy simplifies the process of deploying best-in-class energy systems. It's the right time to think not just about how we accelerate electrification, but also how we do it sustainably. Power Global's module is a major step forward and Redivivus is an important part of the sustainability solution," said Ed Wise, founder and CEO at PositivEnergy.
Once Power Global's EV and stationary storage battery modules ultimately reach their end-of-life, new partner, battery recycling processor Redivivus, will cost-effectively reclaim up to 92 percent of materials, while recirculating and reprocessing chemical reagents for direct reuse in the recycling process. Current lithium-ion battery recycling processes require high-temperature melting-and-extraction or single-use chemical processes, generating a significant waste stream. Redivivus' novel no-burn, hybrid process, Redi-Cycle technology recovers battery materials for secondary markets, reducing the reliance on metal mining. Redivivus will offer mobile Redi-Shred recycling units for Power Global service and sales centers throughout India and build recycling lines at Power Global's factories in Pasadena, California, and Greater Noida, India.
"Our white-glove recycling process brings peace of mind to battery manufacturers knowing their hard work and materials will have a new life, reducing overall carbon footprint," said Erika Guerrero, co-founder and CEO at Redivivus. "Recycling starts with manufacturing safe, quality battery products. Partnering with Power Global gives us confidence that adoption of recycling is being thought through from design conception."
Power Global CEO and founder Porter Harris concluded, "We've gathered a lot of good momentum, and this is just the start of our journey. By applying the lessons learned from developing energy storage solutions over the last few decades, and creating strategic partnerships with industry innovators, we're better equipped in the long run to mindfully and responsibly create a sustainable and circular battery value chain."
About Power Global
Power Global delivers affordable electrification solutions for mobility, stationary storage and consumer product sectors. Founded in 2019 by industry leaders in advanced battery development, Power Global is improving global access to modern clean energy technologies across emerging markets in the U.S., Asia and other regions that are disproportionately affected by climate change through its low-cost and high-performance light mobility, battery swapping and energy storage solutions. Power Global is a 1% for the Planet alliance member and a Public Benefit Corporation. For more information, please visit www.power.global.
PositivEnergy was founded in 2019 by Ed Wise, the former President of Energy Storage Systems at Romeo Power. Based in Miami, Florida, PositivEnergy is a first-of-its-kind energy solutions provider focused on building optimized energy storage, EV Charging and EV infrastructure. With their industry-leading PositivCare™ performance assurance program, PositivEnergy is making renewable energy accessible for all. Learn more at www.positivenergy.us
Redivivus is the complete solution to lithium-ion battery recycling. Our proprietary technologies provide white-glove logistics, disassembly and material recovery service for end-of-life batteries. The ultimate success of the Redivivus mission is the safe transportation of battery material and cost-effective recycling that respects long-term, multi-planetary life. Discover more at www.redivivus.tech.