SK tes Repurposes Over 6 Million Assets in 2023 and Shares Plans to Pioneer Sustainable Growth in ITAD and Recycling Sectors

SINGAPORE, SINGAPORE / ACCESSWIRE / May 13, 2024 / Globally recognized for its commitment to environmental sustainability and sustainable technology lifecycle services, SK tes is proud to announce that over 6 million assets were repurposed for reuse or recycling in 2023. This significant milestone comes as SK tes progresses strategic expansions that underscore its leadership in the IT Asset Disposition (ITAD) and recycling industry.

SK tes is thrilled to announce further progress in its mission to securely and sustainably recycle 1 billion kilograms of technology devices by 2030. In 2023, SK tes processed 101,766,393 kgs of equipment, including 6.2 million technology devices. SK tes is on track to meet the ‘Decade of Difference' commitment and expects this volume to grow again in 2024.

Worldwide, the annual generation of e-waste is rising by 2.6 million tonnes a year and SK tes recognises the need to keep expanding its capacity to meet the growing global needs of our clients when it comes to managing their IT and data center equipment and batteries. The UN's fourth Global E-waste Monitor reported a record 62 million tonnes of e-waste was produced in 2022, and predicts this increasing to 82 million tonnes a year by 2030.

To support this volume growth, SK tes is investing to meet the increased capacity requirements of its loyal customer base. SK tes is doubling the size of its facilities in Recklinghausen, Germany, and Seattle, USA, to accommodate the growing demands of both new and long-term clients growing our global processing area to 2.7 million square feet and increasing the volume of assets that we can process worldwide.

Earlier this year, SK tes unveiled a flagship ITAD site in Virginia, USA, designed to meet the growing needs of hyperscale data centers in the region. This strategic expansion is part of the company's broader initiative to enhance its global ITAD and recycling infrastructure.

Under the aegis of its parent company, SK ecoplant, SK tes is dedicated to advancing sustainable IT and battery recycling solutions that cater to the global needs of its clients. "Our goal is not just to grow, but to lead the way in sustainable technology solutions," said Eric Ingebretsen, Chief Commercial Officer. "The market is robust and the need for solutions has never been greater. We are excited about the future and remain committed to making a significant impact in the recycling and ITAD sectors."

Further bolstering its commitment to environmental sustainability, SK tes has also ventured into new collaborative efforts, including signing a Memorandum of Understanding (MOU) with SMFL to invest in battery recycling in Japan, and establishing a joint venture to develop a cutting-edge ITAD processing site in Hanoi, Vietnam. These ventures are steps towards the realization of future plans for e-waste and battery recycling in the region.

In addition to the millions of smartphone batteries and technology device batteries retired annually, McKinsey reports that over 100 million electric vehicle batteries are expected to be retired in the next decade. As electric mobility increases globally, so does the need for battery recycling.

SK tes is preparing to support this growing demand. This year, SK tes plans to ramp up operations at our state-of-the-art battery recycling facility in the Netherlands and break ground on an additional facility in Europe, enhancing our strategic position to support burgeoning electric vehicle manufacturing hubs in the region. The new facility will complement existing SK tes battery recycling facilities in Germany, France, Singapore, and China.

"As we stand at the precipice of an electric mobility revolution, the need for comprehensive recycling solutions has never been more urgent. SK tes is not just observing this shift; we are actively preparing to meet it head-on," said Chief Operating Officer Thomas Holberg. "Our commitment to environmental stewardship is underscored by our expansion in Europe, where our new battery recycling facility will not only support the region's electric vehicle production but also reinforce our global efforts in pioneering efforts to develop battery recycling capabilities and critical material recovery."

Since its inception in 2005, the company, formerly known as TES and now rebranded as SK tes, has been at the forefront of providing secure and sustainable technology lifecycle services. With over 40 owned and operated facilities spread across 23 countries, SK tes continues to strengthen its global presence and service capabilities.

For more information about SK tes and its services, please visit www.sktes.com.

About SK tes:

Since our formation in 2005, SK tes, a subsidiary of SK ecoplant, has grown to become a global leader in sustainable technology services and bespoke solutions that help clients manage the commissioning, deployment, and retirement of technology devices and components. We provide comprehensive services for technology devices throughout their lifecycle - from deployment to decommissioning to disposition - all the way through to recycling and end-of-life repurposing. This includes innovating new processes to leverage the value locked in assets if they are to be recycled, such as our proprietary lithium battery recycling process, which extracts scarce materials from used batteries at purity rates high enough that they can be reused in the manufacturing supply chain.

We have made it our mission to make a decade of difference by securely, safely, and sustainably transforming and repurposing one billion kgs of assets by 2030. SK tes has over 40 owned facilities across 22 countries offering unmatched service-level consistency, consistent commercials, lower logistics costs, local compliance experts in-region, support in local time zones and languages, and a deep understanding of transboundary movement globally.

Contact Information:

Maria Penaloza
Media And Content Strategist
maria.penaloza@issuerdirect.com

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SOURCE: SK tes

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