Business

Companies combine to create new lithium-ion battery recycler

Moving forward, Heritage Battery Recycling will operate under the Retriev Technologies brand.

By David Sickels
October 15, 2021

Heritage Battery Recycling has combined with Retriev Technologies to develop a comprehensive recycling and reuse battery management platform. The companies say this transaction solidifies the retention of strategic material handling technology and capability to domestically support the manufacturing sector, including U.S.-based OEMs who are investing to support the conversion to electric vehicles.

Moving forward, Heritage Battery Recycling will operate under the Retriev Technologies brand. Shane Thompson will serve as president of the combined company.

Retriev’s North American operations provide a unique platform for the launch of this partnership, with battery recycling and sorting facilities located in Lancaster, OH, Baltimore, OH, and Trail, British Columbia.

BorgWarner acquires Hubei SSE charging business

SSE’s electrification capabilities in China are expected to complement BorgWarner in Europe and North America.

By David Sickels
March 9, 2023

BorgWarner-Santroll-eMotor-Handshake-1400

BorgWarner has agreed to acquire the electric vehicle solution, smart grid and smart energy businesses of Hubei Surpass Sun Electric (SSE). The transaction has an enterprise value of up to RMB 410 million (approx. $59.36 million).

Headquartered in Xiangyang, Hubei province, China, SSE’s electrification business supplies patented electric vehicle charging solutions to customers in China and more than 70 other countries. SSE says it has delivered over 50,000 charging points and has led the engineering, procurement, and construction (EPC) of more than 250 charging station sites. SSE’s charging and electrification capabilities in China are expected to complement BorgWarner’s existing capabilities in Europe and North America, the companies say. SSE’s 2022 revenues for the electrification business are expected to be approximately RMB 180 million (approx. $26.06 million).