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The strategic partnership deal will focus on the creation of a circular business model for 'battery to battery closed-loop recycling', said the companies.
The companies noted that Marubeni has been growing its presence in the battery metals industry, for instance through acquiring exclusive sales rights to Zambian cobalt in Japan.
Retriev also brings to the partnership a track record of recycling lithium batteries for over 20 years, and it has processed over 25 million pounds of batteries, noted the press release.
The companies also plan to partner with an as-yet-unnamed chemical maker that produces sulphate, battery precursor and cathodes for rechargeable batteries used in both consumer products and electric vehicles.
"[This partnership] will contribute to improving the sustainability of global society through the development and promotion of new circular businesses in the market," the companies said.
