Emerson (NYSE: EMR) shares were in plus country early Monday, on word the global automation technology and software concern has been selected by Korea's SungEel HiTech Co., Ltd., a specialist in lithium-ion battery recycling, to provide advanced automation solutions in support of sustainable production and operational efficiency goals at the newest of three lithium-ion recycling plants located at SungEel's Hydro Center complex in Gunsan, Jeollabuk-do.
Through the combination of Emerson's process automation technology and SungEel HiTech's unique battery recycling methods, the collaboration aims to establish a robust resource cycle that will help enable a more stable supply of battery materials for electric vehicles in pursuit of bolstering the world's overall production capacity.
"Our automation portfolio and expertise are empowering our customers to optimize and scale the circular economy for critical battery components, a key step toward meeting global net-zero targets head-on," said Mike Train, Emerson's chief sustainability officer.
SungEel HiTech operates a comprehensive battery recycling ecosystem across nine global locations, including a recycling park for collection and pretreatment and a hydrometallurgical battery material production facility at the Gunsan Hydro Center. The upcoming third Hydro Center plant will be triple the size of the first two, contributing to increased production capacity that can supply raw materials for approximately 400,000 electric vehicles each year.
EMR shares advanced 76 cents to $90.32.
