SK Tes Repurposes Over 6 Million Assets In 2023 And Shares Plans To Pioneer Sustainable Growth In ITAD And Recycling Sectors

SK tes, a global leader in sustainable technology services and solutions, has achieved a significant milestone in its commitment to environmental sustainability. In 2023, the company repurposed over 6 million assets for reuse or recycling. This achievement highlights SK tes' leadership in the IT Asset Disposition (ITAD) and recycling industry.As part of its mission to recycle 1 billion kilograms of technology devices by 2030, SK tes processed a total of 101,766,393 kilograms of equipment in 2023, including 6.2 million technology devices. The company is on track to meet its 'Decade of Difference' commitment and expects this volume to continue growing in 2024.The global generation of e-waste is increasing at a rapid pace, with an annual rise of 2.6 million tonnes. Recognizing the need to meet the growing global needs of its clients in managing their IT and data center equipment and batteries, SK tes is investing in expanding its capacity. The UN's fourth Global E-waste Monitor reported a record 62 million tonnes of e-waste produced in 2022, with a projected increase to 82 million tonnes per year by 2030.To support this volume growth, SK tes is doubling the size of its facilities in Recklinghausen, Germany, and Seattle, USA. This expansion will increase the company's global processing area to 2.7 million square feet and enable it to process a higher volume of assets worldwide. Additionally, SK tes recently unveiled a flagship ITAD site in Virginia, USA, catering to the needs of hyperscale data centers in the region.Under the umbrella of its parent company, SK ecoplant, SK tes is dedicated to advancing sustainable IT and battery recycling solutions for its clients worldwide. Eric Ingebretsen, Chief Commercial Officer, emphasized the company's goal to lead the way in sustainable technology solutions. He stated, "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."In line with its commitment to environmental sustainability, SK tes has entered into new collaborative efforts. It has signed a Memorandum of Understanding (MOU) with SMFL to invest in battery recycling in Japan and established a joint venture to develop an advanced ITAD processing site in Hanoi, Vietnam. These ventures contribute to SK tes' plans for e-waste and battery recycling in the region.The demand for battery recycling is expected to grow significantly as over 100 million electric vehicle batteries are projected to be retired in the next decade. To meet this growing demand, SK tes plans to ramp up operations at its battery recycling facility in the Netherlands and build a new facility in Europe. These facilities will support electric vehicle manufacturing hubs in the region and strengthen SK tes' global efforts in battery recycling and critical material recovery.Since its establishment in 2005, SK tes has been a pioneer in providing secure and sustainable technology lifecycle services. With over 40 owned and operated facilities across 23 countries, the company continues to expand its global presence and service capabilities. SK tes is committed to securely, safely, and sustainably transforming and repurposing one billion kilograms of assets by 2030.For more information about SK tes and its services, please visit www.sktes.com.