Sustainability Strategy

Business

Lithium-ion Battery
Recycling Business

ESG Initiatives

Sustainability Report 2022

Financial and Company Data

VOLTA Inc.

Business ollecting and recycling of minor metals from rechargeable batteries
CRecycling of used casings (other than batteries)

For moredetailed company
information

Value & Vision

Becoming an Indispensable Industry Player through LIB-to-LIB Recycling
EVs are growing in popularity, and global production is expected to quadruple between 2022 and 2030. Demand for lithium-ion batteries (LIBs) is likely to surge accordingly.
However, the industry faces concerns about shortages of raw materials such as lithium, cobalt, and nickel.
Against this backdrop, LIB-to-LIB recycling has emerged as a global challenge.
for haulage, we have achieved 100% renewable energy in all of ourprocesses. We will help to build a low-carbon society by working toward
RE100 at new sites we will establish in the future.

Expanding Battery Collection

 ecycling LIBs to Produce Black Mass and CollectR
Valuables
LIB cathode materials contain minor metals, such as cobalt, nickel, andlithium. After LIBs are heated, they are crushed and sorted to collect blackmass*1, a mixture of minor metals. The company also collects copper
contained in the anode material. We sell high-quality metals to smelters,
utilizing the expertise we have cultivated since our establishment. In 2022,
the company changed the crusher used on
the electrode material recycling line toincrease production capacity. In 2025, weplan to start operating a hydrometallurgicalplant and expand our business by taking thelead in producing battery materials using
black mass as raw material.
Black massP roduction Using a Decarbonization Process atRE100 Plants
To achieve carbon neutrality by 2050, decarbonization processes will berequired in battery recycling, as well. With the exception of the trucks we use

In March 2022, we became the fourth company to be certified as a widearea industrial waste recycling processor by JBRC, a general incorporated
association. Our advanced sorting technology allows us to handle a widevariety of rechargeable batteries, enabling us to collect a range of batteries
across a wide area. In addition, the acquisition of an industrial waste disposal
license has made it possible for us to accept and recycle waste batteries thatare classified as industrial waste. As we can now process LIBs from various
items such as discarded cordless appliances, electric toys, and heatedcigarettes, we expect our LIB handling volume to increase.

Comment

The Lithium-Ion Battery Recycling Process
Batteries to be processedVehicle use (EVs, HEVs, PHVs, etc.)

Cylinder type (PCs, tools, electric bicycles, etc.)

Square and laminated type(mobile phones, etc.)

For ESS(household and industrial storage batteries, etc.)

The Recycling Process in the Plant
Battery recycling process

Electrode plate recycling process

Heating treatment

Shredding/Sorting

Electrolyte is volatilized through heat treatment.

Continuous shredding by multiple shredders andsorting with sieves

Shredding/Sorting*2

Anode sheet/Cathode sheet

Sorting with sieves after shredding

Active materials*1 applied to copper foil oraluminum foil are efficiently stripped off by aspecial shredder

Keeping an Eye Focused on Advanced
Battery Recycling
Kenta Imai, Representative Director VOLTA Inc.

VOLTA recycles rechargeable batteries, such as lithium-ion and nickel-metal hydridebatteries, using its own knowledge and the Group’s recycling expertise. While keeping
an eye on competition from Chinese and other companies that have alreadyestablished a lead in this field, we plan to leverage the Group’s comprehensive
strengths to establish a recycling scheme and develop sorting technology. As a result,
we will take up the challenge of becoming a cutting-edge
recycling company capable of capturing new markets. In
addition to the Group’s strengths in thorough crushing andsorting technology, we will help to realize a sustainable society
by taking advantage of the trading function that enables us topurchase and sell products overseas.

LIB material recycling supply chain

LIB material recycling supply chain

Black mass: Hydrometallurgy manufacturers
Iron: Steel manufacturers
Copper: Copper smelters and manufacturers

Active materials: Hydrometallurgy manufacturers
Carbon: Steel manufacturers
Copper: Copper smelters and manufacturers
Aluminum: Reducing agent applications*1 Black mass/active materials: A concentrated sludge of cobalt, nickel, and lithium*2 By evaporating electrolytic solution through heating treatment, shredding and sorting are handled in a continuous line

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