Elemental Holding announces proposed equity investment by the IFC
Elemental Holding (“Elemental” or “the Group”), the global urban mining and metals recycling Group originating from Poland, with headquarters in Luxemburg, today announced the public disclosure by the International Finance Corporation (“IFC”) of a proposed investment of up to US$75 million in convertible preferred shares of Elemental Holding. The transaction is part of a larger ongoing equity private placement by Elemental to fund its next phase of organic and inorganic growth. Besides the IFC, the Company is currently engaged with other development finance institutions and reputable private investors to secure funding for the private placement. With its large existing metals recycling footprint, the Group is uniquely positioned to benefit from global decarbonisation megatrends such as the increased focus on circular economy and recycling, the shift to electric vehicles and the need to build local supply chains of critical minerals.
About Elemental
Established in 2010, Elemental is a global recycler focused on extracting palladium, platinum and rhodium (“PGM metals”) from spent automotive catalysts (“SACs”) and gold, silver and copper concentrate from waste electrical and electronic equipment, printed circuit boards (“PCBs”) and non-ferrous scrap metal. Elemental currently has 55 subsidiaries in 35 countries owning more than 50 collection and processing facilities of which 30 are across Europe and the rest are outside of Europe (in U.S., Turkey, UAE and Malaysia). Elemental employs over 1,100 people worldwide. In 2021, Elemental initiated a greenfield investment of PLN500 million (c. US$110 million) involving the construction of a state-of-the-art production facility in Southern Poland which is expected to occupy a leading position in European lithium-ion battery recycling and the recovery of PGM metals from SACs. The facility will include a PGM refinery and an innovative lithium, cobalt and nickel recovery facility. The plant will produce secondary metals and other materials that can be reused as raw materials for new batteries or other applications, providing an essential service in the lithium-ion batteries value chain. These batteries are a core component of electric vehicles, sales of which are forecast to overtake those of petrol- and diesel-powered cars as the transition to a low-carbon economy progresses. The project will reduce greenhouse gas emissions and support the circular economy in the e-mobility sector. The production and use of recycled batteries and metals can lead to carbon savings as high as 98 percent compared to their primary counterparts, as well as to a more efficient use of scarce natural resources. The project is supported by the European Commission and has received an EBRD loan of up to €25 million. Elemental is also developing an innovative recycling and refining facility for processing e-waste concentrate. The project will enable low emission production of secondary copper, aluminium, iron, tin, gold, silver and palladium. The facility will be co-located on the site.
About the IFC
IFC – a member of the World Bank Group – is the largest global development institution focused on the private sector in emerging markets. The IFC works in more than 100 countries, using its capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2021, IFC committed a record US$31.5 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of the COVID19 pandemic.
Elemental Holding (“Elemental” or “the Group”), the global urban mining and metals recycling Group originating from Poland, with headquarters in Luxemburg, today announced the public disclosure by the International Finance Corporation (“IFC”) of a proposed investment of up to US$75 million in convertible preferred shares of Elemental Holding.
Elemental Holding (“Elemental” or “the Group”), the global urban mining and metals recycling Group originating from Poland, with headquarters in Luxemburg, today announced the public disclosure by the International Finance Corporation (“IFC”) of a proposed investment of up to US$75 million in convertible preferred shares of Elemental Holding. The transaction is part of a larger ongoing equity private placement by Elemental to fund its next phase of organic and inorganic growth. Besides the IFC, the Company is currently engaged with other development finance institutions and reputable private investors to secure funding for the private placement. With its large existing metals recycling footprint, the Group is uniquely positioned to benefit from global decarbonisation megatrends such as the increased focus on circular economy and recycling, the shift to electric vehicles and the need to build local supply chains of critical minerals.
About Elemental
Established in 2010, Elemental is a global recycler focused on extracting palladium, platinum and rhodium (“PGM metals”) from spent automotive catalysts (“SACs”) and gold, silver and copper concentrate from waste electrical and electronic equipment, printed circuit boards (“PCBs”) and non-ferrous scrap metal. Elemental currently has 55 subsidiaries in 35 countries owning more than 50 collection and processing facilities of which 30 are across Europe and the rest are outside of Europe (in U.S., Turkey, UAE and Malaysia). Elemental employs over 1,100 people worldwide. In 2021, Elemental initiated a greenfield investment of PLN500 million (c. US$110 million) involving the construction of a state-of-the-art production facility in Southern Poland which is expected to occupy a leading position in European lithium-ion battery recycling and the recovery of PGM metals from SACs. The facility will include a PGM refinery and an innovative lithium, cobalt and nickel recovery facility. The plant will produce secondary metals and other materials that can be reused as raw materials for new batteries or other applications, providing an essential service in the lithium-ion batteries value chain. These batteries are a core component of electric vehicles, sales of which are forecast to overtake those of petrol- and diesel-powered cars as the transition to a low-carbon economy progresses. The project will reduce greenhouse gas emissions and support the circular economy in the e-mobility sector. The production and use of recycled batteries and metals can lead to carbon savings as high as 98 percent compared to their primary counterparts, as well as to a more efficient use of scarce natural resources. The project is supported by the European Commission and has received an EBRD loan of up to €25 million. Elemental is also developing an innovative recycling and refining facility for processing e-waste concentrate. The project will enable low emission production of secondary copper, aluminium, iron, tin, gold, silver and palladium. The facility will be co-located on the site.
About the IFC
IFC – a member of the World Bank Group – is the largest global development institution focused on the private sector in emerging markets. The IFC works in more than 100 countries, using its capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2021, IFC committed a record US$31.5 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of the COVID19 pandemic.