Coherent Evaluates Strategic Alternatives for its Advanced Lithium-Ion Battery Recycling Technology

PITTSBURGH, Dec. 12, 2024 (GLOBE NEWSWIRE) -- Coherent Corp. (NYSE: COHR), a global leader in materials, networking, and lasers, today announced that as a result of an ongoing strategic portfolio assessment, the company will evaluate strategic alternatives for its Streamlined Hydrometallurgical Advanced Recycling Process (SHARP™) technology to efficiently recover and recycle critical metals from lithium-ion batteries (LiBs).

With the increasing global demand for LiBs, driven by electric vehicles, energy storage systems, electronics, and other applications, the recycling of end-of-life LiBs is more critical than ever. SHARP™ technology addresses this challenge by enabling the production of cathode precursors and materials suitable for new LiB production directly from LiB waste. Unlike traditional hydrometallurgical processes, SHARP eliminates the need for extensive critical metal separation and purification steps.

The benefits of the SHARP technology include:

• High Recovery Rates: >97% recovery of critical metals (Ni, Co, and Li)
• Cost Efficiency vs. Common Processes: 55% lower CAPEX, 45% lower plant footprint, 60% lower reagents/utilities and 52% lower CO₂ emissions
• Environmentally friendly: zero liquid discharge, no toxic solid/gas/liquid waste

SHARP has been successfully scaled up, and its products have undergone rigorous evaluation. Results demonstrate that the materials produced perform on par with pristine materials in battery applications, confirming their suitability for high-performance lithium-ion batteries.

Interested investors are encouraged to contact Tim Challingsworth, Vice President, Strategy and Corporate Development, at tim.challingsworth@coherent.com. The company does not anticipate making further public comments regarding this matter until a material development occurs.

About Coherent

Coherent empowers market innovators to define the future through breakthrough technologies, from materials to systems. We deliver innovations that resonate with our customers in diversified applications for the industrial, communications, electronics, and instrumentation markets. Coherent has research and development, manufacturing, sales, service, and distribution facilities worldwide. For more information, please visit us at coherent.com.

Media Contact:

Amy Wilson
Corporate Communications & Investor Relations
corporate.communications@coherent.com