Mitsui & Co. will invest in lithium-ion battery recycling plant in Japan

Mitsui & Co. has agreed to form a new lithium-ion battery recycling joint venture with VOLTA and Miracle Eternal.

The new joint venture, J-Cycle Inc., was established in May 2024 and is expected to start operating a battery recycling plant in Ibaraki Prefecture, Japan, in September this year, subject to obtaining the necessary licenses and approvals. J-Cycle plans to utilize Mitsui's expertise in battery-related businesses, battery recycling knowledge and its global network, VOLTA's management capabilities in battery recycling, and Miracle Eternal's capabilities to produce and sell black matter from end-of-life batteries and black substance from battery production waste.

The shift to electrification is an important part of decarbonizing the transport sector. To support this transformation and growth, a stable supply of EV battery raw materials and a sustainable end-of-life battery collection and recycling system must be established.

The global energy transition is one of the key strategic initiatives of Mitsui & Co.’s 2026 Medium-Term Management Plan. Creating a stable energy supply chain and combating climate change through their strategic businesses are Mitsui & Co.'s focus areas. By promoting battery recycling business at home and abroad, Mitsui will contribute to ensuring a stable supply of critical minerals and promoting the development of a circular economy.