THERE'S a dirty truth behind supposedly clean electric vehicles (EVs): the lithium batteries they run on can't be easily recycled.
Current methods include smelting - which involves high-temperature extraction - or leaching with acids. These processes are energy-intensive, costly and can also produce pollutive substances.
Many companies have therefore opted not to recycle - globally, only 5 per cent of the world's lithium batteries are recycled.
Companies that can figure out a cleaner and more cost-effective solution stand to tap a market projected to be worth US$6.55 billion by 2028, Fortune Business Insights has said.
Singapore-based startups NEU Battery Materials and Green Li-ion hope to be...