Heritage Battery Recycling is combining its battery management and recycling business with Retriev Technologies, which calls itself the largest and most diverse lithium-ion battery processor in North America, with over 30 years in operation. The combination with Retriev marks a key step in Heritage's expansion to further develop a comprehensive recycling and reuse battery management platform. KBI, a longtime leader in battery recycling and management, will continue as an active equity partner in Retriev. This transaction solidifies the retention of strategic material handling technology and capability to domestically support the manufacturing sector, including US-based OEMs who are investing at unprecedented levels to support the conversion to electric vehicles.
Retriev's North American operations provide a unique platform for the launch of this partnership, with battery recycling and sorting facilities located in Lancaster, OH, Baltimore, OH, and Trail, British Columbia. Also included in the transaction is KBI's xEV Strategies division. Located in Brea, CA, xEV Strategies is a specialized testing, refurbishment, warehousing, and logistics platform for large-format electric vehicle batteries. Paired with Heritage's collection and transportation network via partnerships with Heritage Environmental Services (HES) and Heritage-Crystal Clean, the collaborative operations moving forward represent the only comprehensive logistics, recycling, and reuse platform available in the industry today.
"We're pleased to partner with Heritage to expand the reach and capabilities of Retriev," said Steve Kinsbursky, Chairman and CEO of Retriev, and President, CEO of KBI. "Our mission to bring a sustainable model of closed loop recycling for critical materials that are necessary for the North American supply chain is one step closer to a reality with this merger. This partnership will ensure the success in bringing our shared vison of sustainability to fruition. With over 30 years of commercial operations, Retriev represents the only long term North American lithium-ion battery recycling operation. Adding HBR and its affiliation with Heritage's environmental services expertise and network of fully permitted collection facilities and transportation assets will allow us to further differentiate Retriev as a single solution for all battery management needs."
Moving forward, Heritage Battery Recycling will operate under the Retriev Technologies brand. Shane Thompson will serve as President of the combined company.
"Based on my 20-year career in battery recycling, no other company is better suited for success in this industry," said Thompson. "Retriev has processed more lithium-ion batteries than any other participant in this market. The combined knowledge and experience in battery recycling and reuse, collection and transportation, safety and environmental compliance serves as an unmatched platform to responsibly support the rapidly growing battery space. We have comprehensive plans to continue to invest in and grow the company's product suite and capabilities."
Recognizing the growing market demand for safe, sustainable solutions for batteries, Jeff Laborsky, CEO of Heritage Environmental Services, set his sights on Retriev as the ideal technology partner to complement HES's core competency in materials handling. "Over 7 million electric vehicles were sold in the last decade, and as production of new models ramp up and older models near end of life, the need for recycling and reuse solutions has never been greater," Laborsky observed. "Our experience with safely handling hazardous waste and managing total byproduct programs makes us a natural fit for collaboration with Retriev and the various automotive and battery manufacturers facing this industry-wide recycling opportunity."
