KUALA LUMPUR: Kumpulan Modal Perdana (KMP), a technology-focused government firm owned by the Minister of Finance (Inc), has announced a strategic investment in the hydrometallurgical facility developed by Econili Battery New Energy Sdn Bhd.
As the industry leader in lithium-ion battery recycling since 2019, Econili focuses on the recovery of metals from used lithium-ion batteries, mixed-metal waste, black mass and the reprocessing of battery materials.
KMP chief executive officer (CEO) Yarham Yunus said the firm’s investment in Econili is not just an injection of financial capital, but a strategic stake in Malaysia’s future. “In our efforts to develop a high-tech and net-zero economy, we do not want to let the country’s critical resources remain as waste.
“With full support for Econili, KMP is committed to ensuring that the entire value chain of the electric vehicle revolution, from installation to recycling, remains rooted in Malaysia, in line with the Madani Economy aspirations and the New Industrial Master Plan 2030,” he said in a joint statement from KMP and Econili.
Meanwhile, Econili CEO Jayden Goh said the Econili plant is capable of processing up to 24,000 tonnes of used batteries per year, in line with government policies regarding the renewable energy sector.
“We are very proud of the launch of the Econili plant, which is the largest in the country, and Econili’s commitment to green technology through hydrometallurgy methods supports the government’s aspiration to develop a high-tech and highly-skilled industry,” said Goh. — Bernama
