Canadian circular battery technologies mission to South Korea – January 13 to 17, 2025

1. Mission objective

This mission focuses on connecting Canadian SMEs with South Korean corporations that are actively seeking innovative battery recycling and reuse solutions. The mission will help Canadian SMEs forge meaningful partnerships, find end-users and develop potential future technology piloting and demonstration projects. These projects are crucial for enabling SMEs to validate and adapt their technologies to real-world market conditions, which is essential for overcoming market-entry barriers in Indo-Pacific economies. Additionally, these initiatives will improve the bankability of SMEs and accelerate their commercialization efforts in the global marketplace.

2. Key dates

• Deadline to register: September 16, 2024
• Deadline to submit expression of interest: September 27,  2024
• Notification of results: October 16, 2024

3. Sector of focus

The mission will focus on circular battery technologies, including:

• Recycling: extraction of raw materials from waste batteries and recycling technologies.
• Reuse: technologies that repurpose used electric vehicle (EV) batteries for secondary applications (e.g. ESS) and spent battery inspection and diagnosis solutions.

4. Canadian delegation profile

To participate in this initiative, Canadian participants should meet the following requirements:

• be an incorporated, profit‑oriented small or medium‑sized business in Canada
• have 500 or fewer full‑time equivalent employees
• pursue growth and profit by developing and commercializing innovative, technology-driven new or improved products, services or processes in Canada
• have a differentiated and protectable technology (TRL7+) that could become competitive in global markets
• be committed and have sufficient working capital and resources to undertake an international market expansion in the Indo-Pacific Region

Preference may be given to SME applicants who:

• have a minimum of 10 full‑time equivalent employees
• have commercialized 1 or more products domestically or internationally
• have greater than $500,000 CAD in annual revenue

Note: Large Canadian companies must also register for this opportunity in order to be considered as part of the Canadian delegation.

5. South Korean circular battery technology market

In alignment with the global push towards carbon neutrality by 2050, the Korean government unveiled its 2050 Carbon Neutral Strategy in December 2020. South Korea’s commitment to achieving net-zero by 2050 will require significant investments to decarbonize its traditional energy-intensive industries and transition to cleaner energy sources.

The Korean government has identified the circular economy as a key part of its 2050 Carbon Neutral Strategy. In December 2021, the Ministry of Trade, Industry and Energy (MOTIE) and the Ministry of Environment (MOE) announced the K-Circular Economy Implementation Plan to boost carbon neutrality by improving waste reduction and recycling. In June 2023, MOTIE introduced the Circular Economy (CE) 9 project, targeting 9 major industries, including batteries, to further reduce carbon emissions and enhance resource recycling. On July 10, 2024, the Korean government revealed its development plan for used batteries. As of May 2024, approximately 590,000 electric vehicles are registered in Korea. Based on this figure, it is projected that around 100,000 batteries will be discharged around the year 2030. To systematically manage used batteries, the government aims to introduce a battery lifecycle management system and a performance evaluation before battery removal by 2027. Additionally, the government plans to certify materials extracted from recycled used batteries as regenerated materials and implement a certification system for using these regenerated materials in new batteries starting in 2025.

South Korea is a significant player in the EV market, with major companies like Hyundai and Kia. The country is also home to some of the world's largest battery manufacturers, such as LG Energy Solution, Samsung SDI, and SK On, who are major suppliers of lithium-ion batteries for EVs globally. The presence of these industry giants, along with the government’s policy direction, provides substantial opportunities for collaboration and supply chain integration for foreign recycling technology companies.

6. Preliminary mission agenda

This agenda is designed to provide Canadian delegates with a comprehensive understanding of the South Korean market, and facilitate meaningful connections through targeted B2B meetings and site visits to prominent Korean organizations. The optional additional day provides a valuable opportunity for Canadian delegates to solidify partnerships and explore further collaboration prospects.

January 13 to 16, 2025

• Korean government policy and industry briefings
• Korean business practices briefings
• Tailored B2B meetings
• Company presentations or pitch sessions
• Networking reception with relevant Korean stakeholders
• Site visits to leading Korean organizations involved in battery recycling and reuse technologies

January 17,  2025 (optional)

• While there is no official program scheduled, delegates are encouraged to stay an additional 1 or 2 days to arrange follow-up meetings and deepen the connections established during the mission.

7. Financial support

Project funding through the NRC IRAP will only be available to eligible Canadian SMEs. Large Canadian companies will need to secure funding from other sources or self-fund.

Canadian SMEs selected by NRC IRAP for participation will be invited to apply for up to $5,000 reimbursement of 75% of travel and accommodations costs associated with the mission. Selected participants will be sent instructions and information about this support.

Note: Canadian SME applicants must be eligible for funding as NRC IRAP clients before they can be considered for funding through this call for proposals. For more information on NRC IRAP eligibility and becoming an NRC IRAP client, please contact NRC IRAP at 1-877-994-4727.

8. How to apply

Interested Canadian applicants must register using the Register button at the bottom of this page.

An expression of interest form will be provided to potentially eligible applicants. The expression of interest application form will request additional information about the applicant, organization, technology and co‑innovation opportunities of interest.

9. Contact

For questions, concerns, or for more information, please contact the appropriate call for proposals representative listed below:

For more information, contact the NRC IRAP International Office by email at irap.international.pari@nrc-cnrc.gc.ca or Qing Yu, NRC IRAP Clean Technology Program Coordinator at Qing.Yu@nrc-cnrc.gc.ca.

10. Registration

Canadian SME participants must be registered NRC IRAP clients. If not already an NRC IRAP client, Canadian SMEs must contact 1-877-994-4727 to determine if they might be eligible for support through the NRC IRAP.

To begin the application process, interested Canadian participants must first register online to receive an expression of interest form by clicking the register button.

If there is no register button visible below this line, it means that registration for this partnering mission has closed. Please contact the NRC IRAP International Office by email at irap.international.pari@nrc-cnrc.gc.ca for more information.