recycling – PressAP

ACN Newswire

Ni Hsin Inks Strategic Collaboration with SIRIM

December 15, 2022

KUALA LUMPUR, Dec 15, 2022 - (ACN Newswire via SEAPRWire.com) - Ni Hsin EV Tech Sdn. Bhd., a wholly-owned subsidiary of Main Market-listed Ni Hsin Group Berhad (formerly known as Ni Hsin Resources Berhad (Bursa: NIHSIN, 7215)), today signed a Strategic Collaboration with SIRIM Berhad to promote co-operation between the Parties in the following areas:YBrs. Tuan Mohd Azanuddin bin Salleh, Senior Vice President, SIRIM Industrial Research, SIRIM Berhad; YBhg. Dato' Indera Dr. Ahmad Sabirin bin Arshad, FASc, President and Group Chief Executive Officer, SIRIM Berhad; Sofiyan Yahya, Chairman of Ni Hsin Group; Mr. Steven Khoo Chee Kong, Managing Director of NH EV TECH; Rizvi Abdul Halim, Executive Director of Ni Hsin EV Tech [L-R](a) setting up of a Lithium-Ion Battery Recycling Plant in Malaysia through Public-Private Partnership (PPP) funding model;(b) providing an eco-system for a circular economy model in mitigating the impact on the environment as a result of Lithium-Ion Battery being processed illegally in Malaysia;(c) potentially setting up a Lithium-Ion Battery manufacturing plant in Malaysia; and(d) introducing a Lithium-Ion Battery Recycling policy working with the Government of Malaysia. (collectively the "Project")Khoo Chee Kong, Managing Director of NH EV TECH, said: "This Strategic Collaboration with SIRIM is an extension of our quest for greater participation in the green economy. Having successfully launched our EV motorcycles last month we are looking forward to unlocking another piece of the environmental puzzle. As the world has grown to love and depend on the power and convenience brought by lithium-ion batteries (LIBs), their manufacturing and disposal have increasingly become subjects of political and environmental concerns. Most discarded LIBs eventually are landfilled or stockpiled, contaminating the land while wasting energy and non-renewable natural resources. If not recycled and reused, LIBs will exert massive environmental impacts and accelerate the depletion of mineral reserves. It's not only environmental pollution that is a problem. During the end-of-life stage of LIBs, poor handling and disposal could increase the risk of fire or poisoning. In the coming years, disposing of huge numbers of batteries from electric vehicles is going to be the real challenge. There is now a need for qualified e-waste recyclers that can handle and recycle LIBs safely and responsibly.""The setting up of a Lithium-Ion Battery Recycling Plant is the right step in furthering Ni Hsin's green mission in support of the government's commitment towards a more sustainable, resilient and inclusive development in line with the United Nations' 2030 Sustainable Development Goal (SDG). The collaboration also aims to create an eco-system for a circular economy model in mitigating the impact on the environment and to spearhead the formation of a Lithium-Ion Battery Recycling policy working with the Government of Malaysia. The current LIB recycling market is estimated to be worth approximately $1.7 billion and is expected to increase significantly over the next ten years. In the ASEAN region there is only one such recycling facility in Singapore with a recycling capacity of 14 tonnes of Lithium-Ion batteries per day. Being one of the first movers in this region makes Ni Hsin more attractive to investors who are beginning to consider sustainability factors in their investment decision-making process.""We are honoured to work with SIRIM in this green Project who, with their vast knowledge and innovative technical expertise, will be a valuable partner ensuring the success of this green project." SIRIM President and Group Chief Executive Officer, Dato' Indera Dr Ahmad Sabirin Arshad said, "Under the green technology master plan 2030 of Malaysia, several strategies were outlined to create a low-carbon and resource efficient economy, thus, in complementing this master plan, SIRIM will be embarking on various projects towards enhancing and promoting sustainability in line with the Sustainable Development Goals (SDGS).""SIRIM is ever ready to work with any parties who are keen to explore any form of recycling business where we can contribute in terms of the latest technologies towards building our local recycling capabilities for e-waste", said Dato' Indera Dr Ahmad Sabirin Arshad.The SIRIM-Ni Hsin Lithium-Ion Battery Recycling Pilot Plant will be fully operational in 2023 with annual recycling capacity of 550 tonnes of lithium-ion batteries. For a start, the output will be sold to lithium-ion batteries manufacturers in the form of black mass. "Under this collaboration both companies will focus on the recovery of precious metals such as lithium and cobalt in 2024 and embark on lithium-ion battery manufacturing 2025, when the volume by processing more lithium-ion batteries from other nations" he added.Ni Hsin Group Berhad: NIHSIN [Bursa: 7215] [RIC: NHSN:KL] [BB: NHR:MK], http://www.ni-hsin.com/ Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

Baguio’s Net Profit Increased by 45%, Contracts On Hand Recorded a Historical High with a Substantial Increase of around 60% to HK$3.4 billion

August 30, 2022

HONG KONG, Aug 30, 2022 - (ACN Newswire via SEAPRWire.com) - Baguio Green Group Limited ("Baguio" or the "Group", Stock Code: 1397.HK) is pleased to announce its unaudited interim results for the six months ended 30 June 2022 (the "Period"). During the Period, revenue was approximately HK$710 million, representing an increase of approximately 22% as compared with the same period last year. The increase was mainly due to the strong performance of our cleaning segment. Profit attributable to shareholders of the Company was approximately HK$17.8 million, representing an increase of approximately 45% as compared with the same period last year. Gross profit margin was 8.1%. Business Overview and ProspectsIn the first half of 2022, new contracts awarded to the Group amounted to a total of HK$1.95 billion. As a result, the Group recorded a historical high for its contracts on hand of approximately HK$3.4 billion (as of 30 June 2022), representing an increase of 60% from approximately HK$2.1 billion as of 31 December 2021. This will drive a strong revenue growth in the second half of 2022 and the subsequent years.The Group's core business, cleaning services, recorded a considerable growth. Revenue of cleaning services increased by 42% to approximately HK$500 million, accounting for 70% of the Group's overall revenue during the Period. In addition, the Group secured a number of new street cleaning service contracts from the HKSAR Government worth approximately HK$1.6 billion during the Period. Winning these Food and Environmental Hygiene Department ("FEHD") street cleaning service contracts confirms that Baguio is a leading player in the Hong Kong cleaning market. Baguio now covers a total of seven Hong Kong districts, serving more than 2.5 million people (or a third of the city's population).With regard to the waste management and recycling business, the Group won two new FEHD waste collection service contracts worth approximately HK$140 million in total. The Group's waste collection services network now covers a total of five districts in Hong Kong and serves approximately 1.5 million people, placing Baguio one of the key waste management leaders in Hong Kong.The Group is contracted by the Environmental Protection Department ("EPD") to handle over 5,000 recycling spots (including plastic, glass bottles, metals and waste paper) across Hong Kong. We currently operate various sorting facilities to support our recycling business. Baguio's 33-month service contract under EPD's Plastic Recycling Pilot Scheme for plastic collection services in the Eastern, Kwun Tong and Central & Western districts successfully commenced in the first half of 2022. The collection volume is expected to rise in the second half of 2022.To support the expected growth in the volume of the plastic recycling business, the Group recently introduced a new high-speed and fully-automated plastic-sorting facility. Enhanced by Near-Infrared ("NIR") technology, the new plant facilitates rapid separation of all plastic types and colours. It not only increases the processing volume, but also strengthens Baguio's plastic-sorting capability to precisely and effectively separate the collected plastic recyclables into different types for quality conversion. This new technology will drive the Group's plastic recycling business future growth. When fully operational, the plant's plastic processing capacity per year could exceed 10,000 tonnes, equivalent to 400 million plastic bottles.In line with the Hong Kong's sustainable development, we continue to enhance our collection and recycling capabilities. Our joint venture with Swire Beverages Holdings Limited and another investor to set up Hong Kong's first food-grade ready PET plastic factory at the EcoPark in Tuen Mun has commenced operation. Collected plastics are turning into recycled plastic flakes, which can then be re-manufactured as new products. The production volume is gradually increasing.The Group launched the "ESG+" solution this year to support listed company clients to enhance their ESG performance, thereby increasing their chances of securing green financing and becoming an ESG index constituent.Regarding our green technology business, we were awarded EPD's first service contract last year for using bioconversion technology (Black Soldier Flies) to help solve Hong Kong's chicken manure problem. Located at the EcoPark in Tuen Mun, the facility is currently undergoing commissioning tests and is scheduled to become fully operational by the end of 2022, opening a new chapter for the Baguio's green technology business.The Group strive to inject new momentum into our business with biotechnology. In partnership with Jardine Engineering Corporation Limited, the Group formed a Pilot Biochar Production Plant at the EcoPark in Tuen Mun which will enter testing phase within this year. By converting wood waste into high-quality biochar with pyrolysis technology, the production plant effectively turns waste into useful resources.Mr. Ng Wing Hong, Chairman of Baguio, commented, "With the Municipal Solid Waste (MSW) Charging Scheme scheduled to be launched in the second half of 2023, it is expected to further motivate the public to recycle and to increase the recycling volume. With the implementation of the Producer Responsibility Scheme on Plastic Beverage Containers, the recycling rate of plastic beverage containers is expected to have a significant increase. The two schemes are expected to directly drive the growth of Baguio's recycling business and create solid returns from our investment in recycling facilities which creates a strong entry barrier to the competition.Looking ahead, the Group will continue to contribute to the global environment protection by developing its existing business and constantly exploring projects with strong growth potential and green technology." For details of the Group's 2022 interim results announcement, please visit the following website: http://www.baguio.com.hk/en-S/Investor%20Relations/Announcements%20and%20NoticesAbout Baguio Green GroupEstablished in 1980, Baguio Green Group (Stock code: 01397.HK) is one of Hong Kong's largest and most respected integrated environmental services groups. It provides a full spectrum of professional services including professional cleaning, waste collection & recycling, waste management, green technology, organic fertilizer and animal feed production, horticulture & landscaping, and pest control. It serves a wide range of customers in various sectors including Government departments, statutory organizations and multinational corporations. Fully committed to ESG, the Group works relentlessly to advance sustainable development and create a cleaner, greener, healthier city. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

New Power to Legend Capital Carbon Neutral Investment Portfolio: Ruicycle Raises Over RMB 300 Million from Series B

August 8, 2022

HONG KONG, Aug 8, 2022 - (ACN Newswire via SEAPRWire.com) - Shenzhen Ruicycle Environmental Protection Technology Co., Ltd (also known as Hengchuang Ruineng), a battery recycling company, recently accomplished the B round of fundraising with over RMB 300 million, which is backed by Legend Capital. This round of fundraising will be mainly used to improve the development of the echelon utilized product series, the construction of new energy retired lithium battery recycling capacity, and the expansion of new lithium battery wet recycling technology.Founded in 2017, Ruicycle is a national high-tech enterprise dedicated to "Making New Energy a Truly Green Energy", deeply engaging in the field of recycling and comprehensive utilization of retired power batteries. It is committed to pursuing the concept of green and low-carbon development. Directing at the end of the new energy industry, Ruicycle has built an industrial ecological closed loop of large-scale automatic safe crushing, zero-pollution treatment, and high-efficiency recycling of lithium batteries based on the core technologies of lithium battery echelon utilization, material regeneration, and new material regeneration. Meanwhile, centering on the national carbon peaking and carbon neutrality policies, Ruicycle has achieved the traceability of carbon footprint and the quantification of carbon reduction, continuously making contributions to low-carbon development for the new energy industrial chain.In 2020, Ruicycle was granted the qualifications of "Echelon Utilization White List" and "Recycling Utilization White List", becoming the fully licensed enterprise in the lithium battery recycling industry. Ruicycles revenue exceeded RMB 1 billion with a CAGR of over 100% in 2021. Now it has been recognized as the first echelon enterprise in China's power battery recycling and comprehensive utilization industry.Ruicycle is the world-first company devoting intelligent management of temperature-sensing cameras to the retired battery storage field. It has established industrial bases for echelon utilization and recycling in Huizhou, Jiangmen, and Ganzhou, respectively, achieving a recycling capacity of 150,000 tons per year of retired power batteries. At the same time, Ruicycle has also been cooperating with Legend Capital's portfolio company Milkyway, a leading dangerous chemicals logistics enterprise, to build a global leading ESG recycling system.CHEN Zhipeng, the founder of Ruicycle, said: "We are a relatively young team. In keeping with the trend of the new energy era, we are eager to learn more from industry predecessors to root in the physical manufacturing industry more deeply. At the same time, we look forward to having more aspiring youngsters join us to create an efficient organization and together make contributions to the globalization of new energy industrialization experience.Legend Capital's investments in the carbon-neutral field focus on energy decarbonization, vehicle electrification/intelligence, synthetic biology, etc. Energy decarbonization includes photovoltaic, wind power, and smart grid; vehicle electrification/intelligence includes lithium battery vehicles, hydrogen fuel cell vehicles, battery recycling and others.Legend Capital has long been optimistic about investment opportunities in the new energy vehicle industry chain and has invested in a number of automation equipment, lithium batteries, and materials companies, many of which went public successfully, such as Wuxi Lead Intelligent Equipment (300450.SZ), CNGR Advanced Material (300919.SZ), Shanghai Putailai New Energy Technology (603659.SH), Shenzhen Hymson Laser Intelligent Equipments (688559.SH), Shenzhen Colibri Technologies (002957.SZ). At the same time, Legend Capital is also one of the early investors of CATL (300750.SZ).About Legend CapitalFounded in 2001, Legend Capital is a leading VC&PE investor focusing on the early-stage and growth-stage opportunities in China, with offices across Beijing, Shanghai, Shenzhen, Hong Kong, and Seoul, Korea. It currently manages USD and RMB funds of over US$10 billion in commitments, and has invested in around 600 companies, covering technology, healthcare, consumer, enterprise service and intelligent manufacturing sectors. Rooted in China, Legend Capital participated in the rise of many world-leading companies by solid investment coverage and systematic post-investment value-add. Over the years, Legend Capital has also become a widely recognized name in bridging key resources in China and overseas through cross-border activities, and a valuable partner to Chinese and overseas investors. Legend Capital values long-term sustainable investment and incorporates ESG into its long-term development strategy. As a UNPRI signatory since November 2019, Legend Capital is among the first group of top VC/PE firms in China to join the initiative. For more information, please visit www.legendcapital.com.cn/index_en.aspx and follow us on LinkedIn @Legend Capital ( https://www.linkedin.com/company/legend-capital ). Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

SDK and Microwave Chemical Start Joint Development of New Microwave-based Chemical Recycling Technology to Directly Transform Used Plastic into Basic Chemical Feedstock

June 28, 2022

TOKYO, Jun 28, 2022 - (ACN Newswire via SEAPRWire.com) - Showa Denko (SDK) (Tokyo: 4004) and Microwave Chemical Co., Ltd. (Microwave Chemical) have started joint development of a new microwave-based chemical recycling technology to directly transform used plastic into basic chemical feedstock. The two companies are implementing various steps to achieve carbon neutrality by 2050, and aim to commercialize the new technology soon.Chart 1: Comparison of microwave and conventional methodsChart 2: Showa Denko's Chemical Recycling BusinessSDK and Microwave Chemical will aim to develop a technology that decomposes used plastic containers and packaging by irradiating microwave, thereby producing basic chemical feedstock such as ethylene and propylene. By the end of this year, the two companies will study conditions for formation of product through microwave heating, search for catalysts to improve the yield of targeted components, and try to optimize conditions and processes for decomposition to establish basic technology.In the joint technology development, the two companies will use microwave heating, a kind of electric heating used also in a microwave oven. When an object is irradiated, microwave directly affects dielectric material, resulting in internal heating, selective heating and rapid rise in temperature. Compared with other heating methods, microwave heating is special in that it heats only the object. In the planned process, we will use microwave absorber (filler) to give energy in a focused way to used plastic, enabling efficient decomposition of used plastic into basic chemical feedstock. It will also reduce energy consumption for decomposition compared with conventional methods. (Chart 1) Taking advantage of such characteristics of microwave heating, we will aim to transform used plastic directly into basic chemical feedstock with low energy consumption and high efficiency.SDK has been engaged in chemical recycling operations since 2003 at its Kawasaki Plant, producing clean hydrogen and ammonia through thermal decomposition of used plastic. As a result, SDK has accumulated overall know-how concerning procurement of raw materials, decomposition, and manufacture of final product. (Chart 2) With its high-level technologies and deep expertise in process development, Microwave Chemical has the capability to scale up microwave technologies. In the area of chemical recycling, the company has established "PlaWave(TM)," a platform of microwave-based plastic decomposition technology, thereby dealing with various types of plastic.SDK and Microwave Chemical will work together to contribute toward achieving resource saving, resource circulation and a carbon-neutral society through this joint development.About Showa Denko K.K.Showa Denko K.K. (SDK; TSE:4004, ADR:SHWDY) is a major manufacturer of chemical products serving from heavy industry to computers and electronics. The Petrochemicals Sector provides cracker products such as ethylene and propylene, the Chemicals Sector provides industrial, high-performance and high-purity gases and chemicals for semicon and other industries, the Inorganics Sector provides ceramic products, such as alumina, abrasives, refractory/graphite electrodes and fine carbon products. The Aluminum Sector provides aluminum materials and high-value-added fabricated aluminum, the Electronics Sector provides HD media, compound semiconductors such as ultra high bright LEDs, and rare earth magnetic alloys, and the Advanced Battery Materials Department (ABM) provides lithium-ion battery components. For more information, please visit www.sdk.co.jp/english/.For further information, contact:Showa Denko K.K.Public Relations Group, Brand Communication DepartmentPhone: 81-3-5470-3235Microwave Chemical Co., Ltd.Public Relations (Okunaka)Phone: 81-6-6170-7595Email: pr@mwcc.jp Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)