UK company invests $5m to establish battery recycling facility in Nigeria

THE British High Commissioner, Dr. Richard Montgomery, has concluded a visit to Lagos and Ogun States, underscoring the United Kingdom’s commitment to strengthening bilateral relations and supporting development initiatives in these regions.

A key highlight of the visit to Ogun State was the announcement by UK company, Hinckley Recycling, that it is establishing a new battery recycling facility in the state, using UK-patented technology.

Hinckley’s $5m investment will create Africa’s first lithium-ion and lead acid battery recycling and treatment plant.

On the $5 million investment to establish Nigeria’s first battery recycling facility in Ogun State, he said: “It is fantastic that Hinckley Recycling is establishing the first lithium-ion and lead-acid battery recycling facility in Nigeria, creating a new high-value export industry in Ogun State and 100 new direct jobs. Congratulations to the Commissioners and to OgunInvest who worked with Hinckley to make this ground-breaking project a reality.

“The UK fully supports His Excellency Governor Abiodun’s mission to bring new investment and new jobs into Ogun State. The UK Government’s development finance bank British International Investment invested $15 million into Valency International in Ogun State last year, and the UK’s Manufacturing Africa programme is supporting four other companies in Ogun to raise capital and expand their production facilities.”

Hinckley Recycling became the first government approved e-waste recycler in Nigeria in 2016. Hinckley is expanding its e-waste business to create a lithium-ion battery and lead acid battery recycling and treatment plant in Nigeria using patented recycling technology; the local treatment and manufacturing plant will be the first of its kind in Africa.

Read Also: CBN to sell $20,000 to BDCs at N1,590 per dollar