As the world shifts towards a more sustainable future, EcoNiLi Battery New Energy Sdn Bhd is poised to reap the rewards of a rapidly growing battery recycling industry. The Malaysia-based company, touted as the largest lithium-ion battery recycler in Asean, is investing heavily in a new facility focused on remanufacturing and repurposing batteries.
EcoNiLi CEO Datuk Jayden Goh
Datuk Jayden Goh, CEO of EcoNiLi, sees a bright future for the company amidst the growing demand for electric vehicles and increasing awareness of the importance of battery recycling. “We are seeing an increase in the number of EVs on Malaysian roads, and the government is actively pushing for greater adoption. As a result, we will soon have a large volume of batteries waiting to be recycled,” he told SunBiz in an exclusive interview.
The growth of the battery recycling industry is expected to be significant, with demand projected to surge in five to seven years as lithium-ion batteries from EVs and production scrap accumulate. EcoNiLi is well-positioned to capitalize on this trend, with its third facility expected to further enhance its capacity to recycle and repurpose batteries.
- Malaysia lacks local mineral resources, so EcoNiLi must source precious metals from secondary applications.
- The company is developing a “circular economy valley” to recover precious metals from used batteries.
- EcoNiLi serves global clients such as LG, Tesla and Honda, as well as battery recyclers worldwide that lack refinery capabilities.
| Key Partnerships | EcoNiLi has established partnerships with several key players in the battery recycling industry, including |
| LG | one of the world’s leading electronics companies, which supplies EcoNiLi with used batteries to recycle. |
| Tesla | a pioneer in electric vehicles, which uses EcoNiLi’s recycling services to recover valuable materials. |
| Battery recyclers worldwide | which lack refinery capabilities and rely on EcoNiLi for recycling services. |
EcoNiLi is expanding its operations, with plans to list on Nasdaq within three years to attract global investors and talent. The company is also seeking additional funding to support its growth plans, with a successful fundraising expected to drive 20% to 40% profit growth.
“At the moment, battery value and metal prices are unstable due to the drop in global EV demand, which indirectly affects battery material prices. The entire battery ecosystem has faced challenges over the past two years, and this year will be no different. But as an entrepreneur, you have to stay optimistic and keep scaling the business,”
Datuk Jayden Goh emphasized the importance of clear policies and regulations in supporting the growth of the battery recycling industry. “Malaysia is still in its early stages, with unclear policies, ongoing R&D, and trial-and-error efforts. We are adapting to the evolving landscape while positioning ourselves as a key player in the sector. Over time, this will allow us to influence industry standards.”
EcoNiLi believes that Malaysia can become a major industry player, leveraging its cost advantages over countries such as South Korea, Singapore, and Japan. The company is committed to working closely with the government to advocate for clear policies and regulations that support the industry’s growth.
“People now understand the value of used batteries. The battery ecosystem can generate national benefits, creating jobs, attracting investment, and positioning Malaysia as a global supplier of recycled materials,”
Datuk Jayden Goh stressed that recycled battery materials can be sold worldwide, not just to China, but also to the US and Europe. “Without recycling, we would be overly reliant on mining,” he said.
Benefits of Battery Recycling
- Creation of jobs and employment opportunities
- Attraction of investment and economic growth
- Positioning Malaysia as a global supplier of recycled materials
Challenges Facing the Industry
- Unclear policies and regulations
- Ongoing R&D and trial-and-error efforts
- Instability in battery value and metal prices
Opportunities for Malaysia
- Capital expenditure is lower in Malaysia compared to developed countries
- Cost-effective alternative for battery recycling
- Opportunity to attract global investors and talent
EcoNiLi’s Expansion Plans
| Expansion Plans | Expected to drive 20% to 40% profit growth |
| Investment | RM80 million in the new facility |
| Timeline | Within three years to list on Nasdaq and establish a global presence |
EcoNiLi’s Mission
EcoNiLi is committed to creating a more sustainable future through the responsible recycling of lithium-ion batteries. The company’s mission is to drive growth in the battery recycling industry, while promoting a circular economy and reducing waste.
“We are committed to working closely with the government to advocate for clear policies and regulations that support the growth of the industry. We believe that battery recycling is a crucial industry, and discarded batteries should never end up in landfills,”
Datuk Jayden Goh emphasized the importance of responsible recycling practices and the need for clear policies and regulations to support the industry’s growth.
“People now understand the value of used batteries. “Without recycling, we would be overly reliant on mining,” he said.
EcoNiLi: A Leader in Battery Recycling
EcoNiLi is poised to play a critical role in the growing battery recycling industry, with its commitment to responsible recycling practices and its plans to drive growth in the sector. The company’s mission is to create a more sustainable future, while promoting a circular economy and reducing waste.
“We are optimistic about the future of the industry, and we believe that Malaysia can become a major player in the battery recycling sector.
