NEO Battery Materials Ltd., a Canada-based company, and US-based Lotus Energy Recycling signed a non-binding Letter of Intent on October 8, 2024, to form a joint venture focused on recycling photovoltaic cells and solar panels in North America. According to NEO, the joint venture will establish operations in Canada to recover high-purity silicon and other valuable materials for the lithium-ion battery supply chain, particularly for electric vehicle batteries. Since July 2024, the companies have collaborated on developing silicon anode products using recycled PV cells. As per Lotus, the partnership addresses environmental concerns by de-risking silicon raw material production. The venture will leverage Lotus’ recycling expertise and NEO’s silicon anode manufacturing capabilities. Operations are expected to begin after a definitive agreement is reached.
NEO and Lotus Energy Recycling partner for solar panel recycling
The JV seeks to create a circular, sustainable supply chain for battery materials using recovered solar panel materials. (Image Source: Lotus Energy)
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