Gov. Kemp: Korean Lithium-Ion Battery Recycler SungEel HiTech to Build First U.S. Recycling Facility, SungEel Recycling Park Georgia

Atlanta, GA – Governor Brian P. Kemp announced today that lithium-ion battery recycler and raw materials provider SungEel Recycling Park Georgia, LLC., will locate its first U.S. recycling facility in Georgia. A subsidiary of the Korea-based global industry leader SungEel HiTech Co., Ltd., the company will invest more than $37 million in the new facility and create 104 jobs in Stephens County.

"Georgia recently announced record-breaking numbers for fiscal year 2022, and companies like SungEel are evidence that the rapidly growing electric mobility ecosystem continues to generate new jobs for hardworking Georgians across the state," said Governor Brian Kemp. "Korea has been a key partner in Georgia’s growing sustainable technology industry, and I’m excited that SungEel chose the Peach State for their first U.S. facility. Welcome to Georgia!"

With more than 10 years of patented technology, SungEel specializes in complete recycling technology using a 100 percent full circulatory system. This system, which recycles end-of-life batteries and battery manufacturing scrap, has a metal recovery rate of more than 95 percent. Recovered metals include nickel, cobalt, and lithium.

"SungEel HiTech's entry into Georgia is the last piece of the puzzle to build a sustainable ecosystem of Georgia’s electric vehicle supply chain," said Suk Jae Yim, Representative of SungEel Recycling Park Georgia. "SungEel Recycling Park Georgia will conduct its full responsibility to build a U.S. eco-friendly industrial ecosystem in line with the expectations of the State of Georgia and Stephens County."

SungEel Recycling Park Georgia’s new facility will be located at the Hayestone Brady Business Park, a Georgia Ready for Accelerated Development (GRAD) Certified site, in Toccoa. The GRAD Program is a proactive effort by Georgia’s economic development community to develop a portfolio of available sites ready for fast-track development. Operations are expected to begin in early 2024. Over the next few years, the company will be hiring for technicians, operators, administrative, and sales roles. Those interested in learning more about SungEel should visit www.sungeelht.com/en or contact [email protected].

"It has been a pleasure working with SungEel HiTech over the past eight months and learning more about the company and its processes. This is an exciting time for Toccoa-Stephens County and a solid boost for our local job market," said Brian Akin, Chairman of the Stephens County Development Authority. "The investments that we have made in infrastructure, workforce development, and education were all significant factors in the selection process, and we couldn’t be any happier with their decision to expand here. We are looking forward to working alongside them for years to come."

Director of Korean Investment Yoonie Kim represented the Georgia Department of Economic Development (GDEcD) on this competitive project in partnership with the Stephens County Development Authority and Georgia EMC.

"SungEel is a company at the cutting edge of sustainable technology, and we believe SungEel’s proximity to other members of Georgia’s electric mobility ecosystem will lead to amazing success," said GDEcD Commissioner Pat Wilson while meeting with SungEel in Korea this week. "Creating the jobs of the future and protecting the opportunities of today means preparing key industries, such as the auto industry, for the next technological revolution. We are grateful to our partners in Stephens County for their investment in speed to market solutions like site preparation, and we are excited to welcome SungEel to Georgia."

Georgia’s prime location, extensive infrastructure, skilled workforce, and business-friendly climate has made it an attractive location for a diverse array of rapidly developing industries focused on creating a sustainable future. Georgia is cultivating a vertically integrated supply chain that will help companies increase efficiencies by reducing the reliance on imported materials. EV-related projects have contributed more than $13 billion in investments and more than 18,100 new jobs to Georgia since 2020.

About SungEel HiTech Co.,Ltd.
SungEel HiTech Co., Ltd. (KOSDAQ, KQ 365340) is headquartered in Korea and has grown into a global leader in lithium ion battery recycling and raw material provider under the vision of Finite Resources to Infinite Resources. SungEel HiTech currently operates facilities in South Korea, China, Malaysia, India, and Hungary, with new facilities underway in Poland and Germany. The company’s objectives are to further improve the environment and to create value to customers, stockholders, and communities through innovation in recycling technology, material processing, and products. Learn more at www.sungeelht.com/en.