SungEel HiTech

What SungEel HiTech does

SungEel HiTech Co., Ltd. (성일하이텍) is a South Korea-based, KOSDAQ-listed (since July 2022) secondary battery recycling company founded in 2000 in Incheon and headquartered in Gunsan, Jeollabuk-do. It is the only Korean firm operating a fully integrated closed-loop system: physical pre-treatment (Recycling Parks producing black mass) paired with hydrometallurgical wet refining (Hydro Centers) that recover battery-grade cobalt sulfate, nickel sulfate, lithium carbonate, manganese sulfate, electrolytic nickel, and electrolytic copper at 95%+ metal recovery rates.

The company runs a global pre-treatment footprint across 7 Recycling Parks in 6+ countries (South Korea, Malaysia, China, Hungary with two sites, Poland via POSCO Holdings JV, and Indiana/Georgia in the US) with wet refining consolidated at three Gunsan Hydro Centers totaling ~24,000 tpa black mass capacity (Plant 3 alone at 20,000 tpa). Product mix includes battery-grade metal salts sold as powder or liquid, an NC mixed solution for precursor makers, and emerging LFP recycling (pilot by 2026) plus solid-state and lithium-metal battery recycling R&D via a Factorial Energy JDA.

SungEel makes money by selling recovered battery-grade metals to precursor and cathode manufacturers (Samsung SDI, LG Energy Solution, SK On, EcoPro, Top Materials, Umicore) at international commodity-linked pricing, supplemented by LFP processing fees tied to service contracts and rising lithium price profit-sharing. Major shareholder is the Samsung consortium (~13.8%) alongside public float; reported revenue was approximately KRW 1.35 trillion in 2025 (recovering from a 2024 trough of ~KRW 922 billion), with management targeting ~KRW 3 trillion by 2026 as Plant 2 resumes and US operations ramp.

Name

SungEel HiTech

Legal name

SungEel HiTech Co., Ltd. (성일하이텍 주식회사)

Website

https://sungeelht.com

Company type

Public

Founded year

2000

Operating status

Operating

Headcount range

101–250 employees

Short description

SungEel HiTech is a KOSDAQ-listed South Korean battery recycler operating the only fully integrated hydrometallurgical closed-loop system in Korea, recovering 95%+ of cobalt, nickel, and lithium from spent lithium-ion batteries across 7 Recycling Parks in 6+ countries for sale to global battery cell and cathode material manufacturers including Samsung SDI, LG Energy Solution, and SK On.

Ownership category

akta.pro rank

Product category

Battery Recycling and Metal Recovery

NAICS

Materials Recovery Facilities (562920), Materials Recovery Facilities (56292), Hazardous Waste Treatment and Disposal (562211)

akta.pro primary industry

Lithium-ion Battery Recycling (Mechanical, Hydro, Direct Recycling) (EUAIAIAF)

akta.pro secondary industries

Battery Recycling & Materials Recovery (Li-ion, LFP, Flow, Lead-Acid) (EUAMALAE), Battery Materials Refining & Re-Manufacturing Feedstocks (Li, Ni, Co, Mn, Graphite Salts) (EUAIAIAJ), Battery Dismantling, Discharge & Pre-processing (Safe Handling, Shredding, Black Mass Production) (EUAFACAB), Battery Scrap & Recycling Feedstock (Lead-Acid, Li-ion Black Mass Feedstock, NiMH) (IMAKAMAH)

Keywords

• Battery recycling
• Lithium-ion recycling
• Hydrometallurgical refining
• Black mass processing
• Battery metal recovery

Headquarters

HQ city

Gunsan

HQ country

South Korea

HQ region

Asia

Offices13 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Technology or R&D, Supply Chain, Personnel, Infrastructure

Revenue model

1. Battery Metal Sales: Sale of recovered battery-grade metals (cobalt sulfate, nickel sulfate, lithium carbonate, manganese sulfate, electrolytic nickel, electrolytic copper) to battery precursor and cathode material manufacturers. Revenue tied to international metal commodity prices. Products sold as both powder and liquid forms depending on customer preference.
2. LFP Battery Processing Services: Processing fee model for LFP battery recycling where customers pay a processing fee to dispose of LFP batteries. Additionally, profit sharing with customers when lithium prices rise above breakeven levels.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels7 records

Core offering

SungEel HiTech operates a complete end-to-end lithium-ion battery recycling business: physical pre-treatment (Recycling Park) to produce black mass from spent batteries, followed by hydrometallurgical wet refining (Hydro Center) to recover five valuable metals (cobalt, nickel, manganese, lithium, copper) as battery-grade materials for sale back to battery and cathode precursor manufacturers.

Product overview

SungEel HiTech operates a comprehensive battery recycling ecosystem consisting of two core processing systems: the Recycling Park for physical pretreatment (discharge, dismantling, crushing, and black mass production) and the Hydro Center for hydrometallurgical wet refining (leaching, solvent extraction, electrolysis, materialization). The company produces battery-grade materials including cobalt sulfate, nickel sulfate, lithium carbonate, manganese sulfate, electrolytic nickel, and electrolytic copper. Product portfolio includes NC solutions and LFP battery recycling services. The company is expanding into next-generation battery recycling including solid-state and lithium-metal batteries through partnerships with companies like Factorial Energy.

Differentiator

Problem solved

Functional benefit

Products and services

• Cobalt Sulfate (황산코발트) Battery-grade cobalt sulfate recovered from spent lithium-ion batteries for use in lithium-ion battery cathode production; sold to battery cell and precursor manufacturers.
• Nickel Sulfate (황산니켈) Battery-grade nickel sulfate recovered from spent lithium-ion batteries for use in lithium-ion battery cathode production.
• Lithium Carbonate (탄산리튬) Battery-grade lithium carbonate recovered from spent lithium-ion batteries for use in lithium-ion battery cathode and electrolyte production.
• Manganese Sulfate (황산망간) Battery-grade manganese sulfate recovered from spent lithium-ion batteries for use in lithium-ion battery cathode production.
• Electrolytic Nickel (전해니켈) High-purity electrolytic nickel metal recovered from spent lithium-ion batteries.
• Electrolytic Copper (전해구리) High-purity electrolytic copper recovered from spent lithium-ion batteries.
• NC Solution (NC 솔루션) Nickel-cobalt mixed solution produced from recycled battery materials and fed directly into battery cathode precursor production lines, eliminating crystallization step.
• Recycling Park (리사이클링파크) Physical pre-treatment service that collects, discharges, dismantles, separates, and crushes end-of-life batteries and EV packs to produce black mass (battery powder); operated at 7 global locations for battery cell manufacturers.
• Hydro Center (하이드로센터) Hydrometallurgical wet refining service that processes black mass into high-purity battery materials (cobalt, nickel, lithium, manganese, copper) through leaching, solvent extraction, electrolysis, and materialization; 3 plants in Gunsan, Korea.
• LFP Battery Recycling Lithium Iron Phosphate (LFP) battery recycling service using proprietary technology to recover lithium, iron, and phosphate from LFP batteries for remanufacturing into cathode materials; processing fee model with profit sharing when lithium prices exceed breakeven.
• Next-Generation Battery Recycling R&D Research and development services for recycling next-generation batteries including solid-state batteries (SSB) and lithium-metal batteries (LMB); conducted jointly with Factorial Energy under JDA.

Quantifiable outcome

• 95%+ metal recovery rate (cobalt ~96-97%, nickel ~95-96%, lithium ~90-92%)
• +5 more outcomes

Named customers11 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Ten partnerships are on record, tiered minor, major and core.

• Embassy of the Republic of Korea in Hungary / KOTRA / HIPAminorOthers · 19 September 2025Hungarian subsidiary received CSR award 'Together Value Award' at ceremony organized by the Korean Embassy in Hungary, co-hosted with KOTRA and the Hungarian Investment Promotion Agency (HIPA). Recognition for community engagement and environmental responsibility in Hungary.
• Australian Battery Recycling PartnersmajorStrategic or Co-development Partner · 30 June 2025Successful Australia-Korea battery recycling collaboration: Australia handles first-stage processing (black mass production from spent batteries); Korea applies advanced hydrometallurgical technology for secondary processing (valuable metal extraction). Achieves true bilateral partnership in circular economy for battery materials.
• Australia Korea Future Industries Forum (Host: Money Today Broadcasting + Australian Embassy in Korea)minorOthers · 30 June 2025SungEel HiTech participated in the 2025 Korea-Australia Future Industries Forum, presenting on battery recycling and cross-border circular economy. Forum facilitated bilateral cooperation in battery supply chain and recycling technology between Korea and Australia.
• Factorial EnergycoreStrategic or Co-development Partner · 13 June 2025Joint Development Agreement (JDA) for next-generation battery recycling. SungEel leverages its lithium-metal battery recycling expertise to develop customized processes for Factorial's proprietary FEST® solid-state battery technology. R&D to be conducted at Gunsan R&D center, with potential expansion to US and Europe. Targets closed-loop supply chain for SSB and LMB.
• Top Materials (탑머티리얼)majorStrategic or Co-development Partner · 15 August 2024MOU for recycled LFP supply chain. SungEel recovers precursor and lithium carbonate from spent LFP batteries; Top Materials uses these to produce LFP cathode materials for ESS and EV markets. Supports compliance with US IRA and EU CRMA recycled content requirements.
• Korea Emerson (한국에머슨)minorStrategic or Co-development Partner · 7 August 2024MOU for Plant 3 (Hydro Center 3) construction automation. Korea Emerson provides industrial automation solutions including instrumentation and valve systems for the battery recycling facility. Leverages global experience in battery industry automation.
• EcoPro (Eco&Dram)majorStrategic or Co-development Partner · 29 May 2024MOU for integrated precursor production line. SungEel's recycled black mass products are directly fed into EcoPro's precursor manufacturing process without a crystallization step, achieving significant cost savings. Aligns with EU Battery Regulation and US IRA recycled content mandates.
• IpCamTech (이피캠텍)minorStrategic or Co-development Partner · 1 November 2023MOU for development and stable supply of high-purity lithium materials. SungEel supplies lithium carbonate and lithium hydroxide from its recycling process; IpCamTech uses these as raw materials for advanced battery electrolytes. Partnership combines SungEel's metal recovery capability with IpCamTech's electrolyte expertise.
• SK Innovation (SKI)coreStrategic or Co-development Partner · 14 December 2022Joint venture for battery recycling. SK Innovation brings proprietary lithium hydroxide recovery technology; SungEel provides nickel, cobalt, manganese recovery expertise. JV targets commercial plant in Korea by 2025 and expansion to US/Europe. Combines两家 technology for complete metal recovery.
• POSCO HoldingscoreStrategic or Co-development Partner · 29 August 2022Joint venture for Poland Recycling Park. POSCO Holdings provided full investment; SungEel provided EPC (design, equipment, construction) and operates the facility. 41,400 sqm facility in Brzeg Donly, Poland, serving LG Energy Solution and other European battery manufacturers.

Scale indicators12 records

Recent moves12 records

Expansion highlights7 records

Direct peers

• Brunp Recycling: CATL-affiliated battery recycling subsidiary operating large-scale hydrometallurgical plants in China and abroad. Comparable end-to-end black mass-to-precursor recycling integrated with a major cell maker (SungEel's customer base).
• Umicore: Belgian materials technology group with a large battery materials and recycling business, including cobalt/nickel refining and closed-loop cathode material supply. Already a customer of SungEel (since 2008) for recycled cobalt — directly comparable hydrometallurgical recycling and battery-grade metal products.
• Redwood Materials: US-based battery recycling startup building a closed-loop supply chain for end-of-life Li-ion batteries, with anchor relationships to Panasonic and other US/Japanese cell makers. Directly comparable battery-to-cathode-material recycling model and rapid US/EU capacity build-out.
• GEM Co. China's largest battery recycling company and a major hydrometallurgical recycler of spent Li-ion batteries, supplying nickel and cobalt precursors to Chinese and Korean cathode makers. Closest direct competitor in chemistry scope and recovery technology.
• Li-Cycle: Canada-headquartered Li-ion battery recycler that filed for Chapter 15 bankruptcy in 2024 amid the same EV/lithium downturn SungEel navigated. Comparable spoke-and-hub recycling model and serves as a key indicator of cyclical risk in this market.

Broad incumbents

• Glencore: Global mining and trading major with a sizable cobalt/nickel/copper recycling and refining footprint that competes directly for scrap supply and pricing. Comparable in commodity-tied metal recovery economics, though far broader in commodity mix.
• POSCO Holdings: Korean steel/materials conglomerate that is both SungEel's JV partner in Poland and an emerging competitor in battery materials recycling (POSCO Future M). Comparable as a vertically integrated Korean player moving into secondary battery materials.

Regional players

• EcoPro BM: Korea's largest high-nickel cathode maker and an MOU partner of SungEel for integrated precursor supply. Comparable as a regional battery-materials player whose feedstock strategy increasingly depends on recycled black mass from players like SungEel.
• SK On: Korean cell manufacturer and SungEel JV partner for combined Ni/Co/Mn/Li recovery. Comparable as a vertically-integrated Korean battery player pursuing in-house recycling feedstock security.

Emerging players

• Inmetco: North American pyrometallurgical and hydrometallurgical battery recycler serving industrial scrap streams. Comparable in recycling-of-Li-ion feedstock and recovery-rate benchmarking, though smaller scale and different process mix.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SungEel HiTech