Investing in sustainable lead production is the real green deal
Coming hot on the heels of the EU’s Green Deal announcement, new investment in sustainable lead production in Bulgaria is helping ensure Europe is ahead of the game in producing sustainable battery raw materials and promoting the circular economy. Bulgarian ILA member and lead producer KCM AD has been awarded a multi-million euro European Investment Bank (EIB) loan to increase lead and zinc production. The EUR 65 million cash injection will also boost the company’s lead recycling capability as well as further improving the company’s sustainable production processes. Lead produced by the plant is primarily used in automotive and industrial batteries made in the EU.
Investing in lead: European Bank funds KCM in Bulgaria
In approving the loan the EIB – effectively the EU’s bank – said it would enable KCM to make better use of resources as well as reducing its carbon footprint. As the EIB’s Vice President Lilyana Pavlova put it: “This shows that circular economy and climate action go hand in hand with the ambitious social and employment targets of the European Union.” KCM’s Chief Executive and ILA member Rumen Tsonev added that as a European company recycling non-ferrous metals, the move would help contribute to the bloc’s sustainable development goals.
By working with industry the EU can become one of the most sustainable producers and recyclers of raw materials for batteries. And with almost 100 per cent of lead batteries collected and recycled in Europe, it’s the circular economy in action. It’s how we are supporting the transformation to a low carbon economy and delivering on the Green Deal.