Sunlight to acquire full control of Ubatt

Sunlight to acquire full control of Ubatt

Sunlight to acquire full control of Ubatt 482 580 Batteries International

February 15, 2024: The Sunlight Group said on February 7 it had signed a binding agreement to acquire the remaining 50% stake in its German lead battery recycling subsidiary Ubatt.

The deal, for an undisclosed sum, will be finalized by the group’s Sunlight Recycling subsidiary and is subject to the approval of competition authorities.

Sunlight Group CEO Lampros Bisalas (pictured) said Ubatt, which also started collecting lithium batteries for recycling a few years ago, handles a combined total of 58,000 tonnes of batteries annually.

Bisalas said the acquisition will strengthen the group’s position in the battery recycling market for lead and lithium chemistries.

Sunlight Recycling was  set up after being given the go-ahead at an extraordinary meeting of the Greece-based group’s shareholders last October.

In November, Sunlight said it was spinning off its lead recycling operations into the new subsidiary to guarantee raw material supplies for lead battery production.

Bisalas said then that the move would create one of the largest secondary lead producers in the world, help to expand the group’s collection of used batteries in Europe and America and make its lead battery production operations more competitive.