Apple, Inc. (NASDAQ:AAPL) announced Thursday that it would accelerate efforts to expand the use of recycled materials across its products and this includes using 100% recycled cobalt in all Apple-designed batteries.
What Happened: Apple's drive toward increasing the use of recycled materials along with the use of clean energy is aimed at preserving the environment.
"Our ambition to one day use 100 percent recycled and renewable materials in our products works hand in hand with Apple 2030: our goal to achieve carbon neutral products by 2030," said Lisa Jackson, Apple's vice president of Environment, Policy, and Social Initiatives.
On cobalt usage, the company said about one-fourth of all cobalt found in Apple products came from recycled material in 2022, a 13% increase from a year ago. Cobalt, a critical material used in most consumer electronics products, enables high energy density and ensures safety and longevity.
Apple noted that its iPhone disassembly robot Daisy separates batteries from other components and enables specialty recyclers to recover cobalt and other materials, including lithium.
As the demand for consumer electronics and electric vehicles rise, recycling and ethical mining become increasingly important. Battery recyclers are in focus as the industry shifts towards environmental consciousness and clean energy.
See Also: Renewable Energy Stocks
Here is a compilation of battery-recycling companies that could benefit from the trend:
1. Li-Cycle Holdings Corp (NYSE:LI): Canada-based Li-Cycle is engaged in recovering critical materials from lithium-ion batteries and reintroducing them back into the supply chain.
2. Umicore SA (OTC:UMICY): This Brussels, Belgium-based company has a battery recycling plant in Hoboken, Belgium, with an annual capacity of 7,000 tons of lithium-ion batteries and battery production scrap. The company claims that the latest generation of its proprietary recycling technology has resulted in significantly improved metallurgical process, with increased extraction efficiency of cobalt, nickel and copper.
3. Glencore plc (OTC:GLNCY): Swiss commodity trading and mining company Glencore is also a major recycler of end-of-life electronics, lithium-ion batteries and other critical metal-containing products. The company has recycling facilities in North America, South America and Europe.
4. American Battery Technology Company (OTC:ABML): This is a penny stock trading over the counter. The Nevada-based company founded in 2011 uses internally developed proprietary technologies to produce domestically-sourced battery grade critical and strategic metals at substantially lower cost and lower environmental impact than current conventionally sourced battery metals.
5. Ganfeng Lithium Group Co., Ltd. (OTC:GNENF): This Xinyu, Jiangxi-based company is engaged in battery recycling apart from its upstream lithium resource development business.
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