SC has been on the path of battery recycling before | Business

Redwood materials And a $3.5 billion investment in battery recycling in Berkeley County may be the state’s flashiest new economic development deal, but South Carolina is no stranger to taking old car batteries and trying to make them new.

In the year In 2012, the multinational conglomerate Johnson Controls He opened a factory in Florence to recycle the lead-acid power packs that fuel internal combustion engine vehicles. The $150 million site aims to recycle 14 million batteries — or 132,000 metric tons — each year, said the company president. Alex MolinaroliIt’s called “the world’s most innovative battery recycling operation.”

The Pedi plant has described a “modern” closed-loop process where old batteries are collected, their key materials are recovered and then made into new products. Its sustainability efforts have received praise from conservationists, including American Academy of Environmental Engineers. At its height, the factory employed more than 350 workers.

But the factory struggled to reach its goal of producing about 80,000 tons of annual output, and was out of business less than ten years after opening.

Johnson Controls sold its battery division to Canada in 2019 Brookfield Business PartnersIt’s like a business again Clarios. The new owner will cease production at the Florence plant and other US battery facilities in March 2021.

The company has placed some of the blame on the Covid-19 pandemic and its desire to streamline US operations. This means moving the business to Mexico.

Clarios said in a filing with the U.S. Securities and Exchange Commission that the move is expected to save the company $30 million annually, “primarily as a result of lower cost of sales … due to reduced employee-related costs.” Clarios cited strict US environmental regulations and the threat of legal liabilities.

Since the closure of Clarios, Florence seems to be recovering from this month’s announcement AESC view An $810 million factory to make batteries for electric vehicles is to be built. That company is a Redwood customer that takes old lithium-ion batteries and uses their raw materials in new EV power packs.

South Carolina is investing heavily in the future of electric vehicles, along with Lowcountry manufacturers Volvo cars And Mercedes Benz Vans And BMWA plant in the Upstate to make battery-powered EVs. That has attracted those and other automakers, as well as three large battery plants to Redwood, which he said will add up to 1,500 workers. Camp Hall Business Park Factory in Ridgeville, next to the Volvo campus.

It’s at this point to speculate on how big the US electric car market will become. Most automakers believe 50 percent of new car sales will be electric by 2030 — up to 10 million a year in the U.S.

TradePark Marketing

Based in Charlotte Trinity Capital Advisors It was recently closed for sale Business Park East Industrial development by Palmetto Business Park in North Charleston.

the buyer, Dogwood Propco SC IV LPIt is a division of Fort Worth, Texas. TPG CapitalInternational asset management company. The sale price was 102 million dollars, according to Haile Selassie.

The 78-acre, four-building development includes a total of 837,000 square feet, making the sale price less than $122 per square foot. The tenants include a scooter and an electric vehicle maker Bintelli and logistics organizations WYSE Logistics And MD 3PL.

The project is fully leased, and a sales contract with TPG was completed in November before construction was completed.

“The fact that we were able to attract a buyer before construction began is a testament to the strength of the market.” Walker CollierTrinity’s managing partner said in a written statement.

The company recently announced the partnership. icon stocks On the estimate Jedburgh Logistics Park at 239 Jedburgh Road in Summerville. A total of 780,000 square feet on 115 acres will consist of two warehouses -26. The park is slated for completion in the second half of 2023.

Reach out David Wren at 843-937-5550 or on Twitter at @David_Wren_