SungEel HiTech计划到2028年将LFP电池回收产能扩大十倍
电池回收公司SungEel HiTech计划在两年内将其磷酸铁锂(LFP)电池回收业务扩大十倍，并称这将是首个商业规模的回收运营。
原文深度解读
本文报道韩国电池回收公司SungEel HiTech计划到2028年将磷酸铁锂（LFP）电池回收业务扩大十倍，建立韩国首个商业规模的LFP回收产线。文章涉及时间节点（2025年底试点、2028年商业化）、产能（年处理5000吨黑粉）、收入预测（最高170亿韩元）等关键数字，并分析了LFP回收的经济性挑战及市场背景。与电子元器件供应链的关联在于电池回收属于新能源产业链的一环，涉及锂等关键材料的循环利用。
- SungEel HiTech计划在两年内将LFP电池回收业务扩大十倍，并称这将是韩国首个商业规模的回收运营。
- 公司计划2025年底建立年产能500吨的试点LFP回收线，2028年运营年处理5000吨的商业产线，预计年收入最高达170亿韩元。
- 群山市厂区1号工厂将改造为LFP湿法冶金专用工厂，改造于明年下半年开始，2028年上半年完成，一期月处理LFP黑粉400吨。
- 假设黑粉锂含量2%-2.5%、回收率90%，该产线年产碳酸锂约480-600吨，按每公斤20美元计算，年收入约960万至1200万美元（约130亿至170亿韩元）。
- 二期投资可能将产能翻倍至月800吨（年约9600吨），年收入最高可达330亿韩元。
- LFP电池不含镍钴，回收收入主要依赖锂；磷酸铁因回收成本高于市价而不回收，中国也将其填埋。
供应链影响
- SungEel HiTech的产能扩张可能增加对锂等关键材料的回收供应，影响锂市场的供需平衡，具体取决于回收率和锂价走势。
- LFP电池回收产线的建立可能降低对原生锂矿的依赖，但受限于回收经济性，可能影响相关材料（如磷酸铁）的处置方式。
- 随着韩国LFP电池在电动汽车和ESS中的份额上升（从2023年15%增至2025年35%），未来报废电池量增加，可能推动回收需求增长，但取决于电池寿命周期。
- 公司利用现有设施改造，初期投资较低，可能加速商业化进程，但产能爬坡和运营效率可能影响实际产出。
- 由于LFP回收收入集中于锂，锂价波动可能显著影响项目盈利性，进而影响后续投资决策。
系统解读，仅作为判断线索，不构成备货、出货、涨价或投资建议。
电池回收公司SungEel HiTech计划在两年内将其磷酸铁锂（LFP）电池回收业务扩大十倍。这将是韩国首个能够每年处理数千吨废旧LFP电池的商业规模回收运营。
SungEel HiTech计划在今年年底前建立一条年产能500吨的LFP电池回收试点线。它将于2028年开始运营一条年处理5000吨的商业生产线。该公司预计LFP电池回收业务每年可产生高达170亿韩元的收入。
据业内人士9月4日透露，SungEel HiTech最近决定将LFP电池回收业务从试点阶段扩大到商业规模，并完成了内部运营审查。该公司将把其群山园区1号工厂改造成专门的LFP湿法冶金工厂。
设施改造将于明年下半年开始。SungEel HiTech计划在2028年上半年对群山园区1号工厂现有的三元电池回收线进行改造，并将其转换为专用LFP生产线。一期处理能力为每月400吨LFP黑粉。黑粉是废旧电池以及电池制造过程中产生的缺陷产品和废料经过破碎和分选后产生的黑色粉末。
SungEel HiTech计划在专用LFP回收线上每年处理约5000吨黑粉。假设黑粉中锂含量为2%至2.5%，回收率为90%，该生产线每年可生产约480至600吨碳酸锂。按每公斤20美元的碳酸锂价格计算，年收入将达到960万至1200万美元，约合130亿至170亿韩元。
该公司还在考虑在一期开始运营后进一步扩大其LFP黑粉处理能力。二期投资可能将处理能力翻倍至每月800吨，相当于每年约9600吨。应用与一期相同的锂含量、回收率和碳酸锂价格假设，年收入可能达到高达330亿韩元。
与传统的三元电池相比，LFP电池含有较少可通过回收获得的高价值金属。三元电池使回收商不仅能回收和销售锂，还能回收镍和钴等价格更高的金属。由于LFP电池不使用镍或钴，回收它们的收入实际上集中在锂上。
SungEel HiTech还计划专注于从LFP电池中回收碳酸锂。同时产生的磷酸铁将不被回收。通过回收获得磷酸铁的成本高于其市场价格，使得该过程在经济上不可行。出于同样的原因，在中国，磷酸铁也被填埋而不是回收。
该公司计划利用现有设施来减少初始投资。群山园区1号工厂已有建筑物和公用设施，使SungEel HiTech能够将其现有的三元电池回收线转换为LFP用途。
“由于我们正在转换现有生产线，我们估计投资将在数十亿韩元范围内，”SungEel HiTech的一位官员表示。“我们已经完成了运营审查，正在计算投资金额，但具体数字尚未最终确定。”
尽管可回收的有价值金属范围有限，SungEel HiTech仍在扩大其LFP电池回收业务，因为废旧LFP电池的数量预计将迅速增加。价格具有竞争力的LFP电池在电动汽车和储能系统（ESS）市场中的采用率正在增长。据业内人士称，韩国配备LFP电池的电动乘用车份额从2023年的约15%上升到2025年的35%。
目前销售的LFP电池一旦达到使用寿命，也将产生回收需求。挑战在于，韩国目前缺乏专门处理废旧LFP电池的商业规模设施。SungEel HiTech计划在废旧LFP电池数量开始真正增加之前建立专用生产线，力求在市场上取得早期领先地位。
SungEel HiTech上半年收入增长41.4%，从去年同期的974亿韩元增至1377亿韩元。营业利润达到63亿韩元，扭转了去年同期329亿韩元的营业亏损。仅第二季度营业利润就达63亿韩元。其新万金3号工厂的利用率从第一季度的约85%上升到第二季度的约95%。
Battery recycling company SungEel HiTech plans to expand its lithium iron phosphate (LFP) battery recycling business tenfold within two years. It would be the first commercial-scale recycling operation in South Korea capable of processing thousands of tons of spent LFP batteries annually.
SungEel HiTech plans to establish a pilot LFP battery recycling line with an annual capacity of 500 tons by the end of this year. It will begin operating a commercial production line capable of processing 5,000 tons annually in 2028. The company expects the LFP battery recycling business to generate annual revenue of as much as 17 billion won.
According to industry sources on Sept. 4, SungEel HiTech recently decided to expand its LFP battery recycling business from the pilot stage to commercial scale and completed an internal operational review. The company will convert Plant 1 at its Gunsan campus into a dedicated LFP hydrometallurgical plant.
The facility conversion will begin in the second half of next year. SungEel HiTech plans to remodel the existing ternary battery recycling line at Gunsan Campus Plant 1 and convert it into a dedicated LFP line in the first half of 2028. The first-phase processing capacity will be 400 tons of LFP black mass per month. Black mass is a black powder produced by crushing and sorting spent batteries as well as defective products and scrap generated during battery manufacturing.
SungEel HiTech plans to process about 5,000 tons of black mass annually on the dedicated LFP recycling line. Assuming a lithium content of 2% to 2.5% in the black mass and a recovery rate of 90%, the line could produce about 480 to 600 tons of lithium carbonate annually. At a lithium carbonate price of $20 per kilogram, annual revenue would be $9.6 million to $12 million, or about 13 billion to 17 billion won.
The company is also considering further expanding its LFP black mass processing capacity after the first phase begins operations. A second-phase investment could double processing capacity to 800 tons per month, equivalent to about 9,600 tons annually. Applying the same lithium content, recovery rate and lithium carbonate price assumptions as in the first phase, annual revenue could reach as much as 33 billion won.
LFP batteries contain fewer high-value metals that can be recovered through recycling than conventional ternary batteries. Ternary batteries allow recyclers to recover and sell not only lithium but also higher-priced metals such as nickel and cobalt. Because LFP batteries do not use nickel or cobalt, revenue from recycling them is effectively concentrated on lithium.
SungEel HiTech also plans to focus on recovering lithium carbonate from LFP batteries. Iron phosphate produced alongside it will not be recovered. The cost of recovering iron phosphate through recycling is higher than its market price, making the process economically unviable. For the same reason, iron phosphate is also landfilled rather than recovered in China.
The company plans to use existing facilities to reduce its initial investment. Gunsan Campus Plant 1 already has buildings and utilities in place, allowing SungEel HiTech to convert its existing ternary battery recycling line for LFP use.
"Because we are converting an existing line, we estimate the investment will be in the several-billion-won range," a SungEel HiTech official said. "We have completed the operational review and are calculating the investment amount, but the specific figure has not yet been finalized."
SungEel HiTech is expanding its LFP battery recycling business despite the limited range of valuable metals that can be recovered because the volume of spent LFP batteries is expected to increase rapidly. Adoption of price-competitive LFP batteries is growing in the electric vehicle and energy storage system (ESS) markets. According to industry sources, the share of electric passenger vehicles in South Korea equipped with LFP batteries rose from about 15% in 2023 to 35% in 2025.
LFP batteries currently being sold will also generate recycling demand once they reach the end of their useful lives. The challenge is that South Korea currently lacks facilities dedicated to processing spent LFP batteries on a commercial scale. SungEel HiTech plans to establish a dedicated production line before the volume of spent LFP batteries begins rising in earnest, seeking to gain an early lead in the market.
SungEel HiTech's first-half revenue rose 41.4% to 137.7 billion won from 97.4 billion won a year earlier. Operating profit reached 6.3 billion won, reversing an operating loss of 32.9 billion won a year earlier. Second-quarter operating profit alone was 6.3 billion won. The utilization rate at its Saemangeum Plant 3 rose from about 85% in the first quarter to around 95% in the second quarter.