The Heritage Group, an Indianapolis-based firm that manages a portfolio of companies specializing in heavy construction and materials, environmental services and specialty chemicals, has announced the merging of Heritage Battery Recycling, its battery management and recycling business, with Retriev Technologies, a lithium-ion battery processor in Anaheim, California.
According to a press release from Heritage, the merger with Retriev is part of Heritage’s expansion to develop comprehensive recycling and reuse battery management platform. KBI, a battery recycling and management company in Southern California, will continue to serve as an active equity partner in Retriev.
Retriev’s North American operations provide a platform for the launch of this partnership, with battery recycling and sorting facilities located in Lancaster, Ohio; Baltimore, Ohio; and Trail, British Columbia.
Also included in the transaction is KBI’s xEV Strategies division. Located in Brea, California, xEV Strategies is a specialized testing, refurbishment, warehousing and logistics platform for large-format electric vehicle batteries.
“We’re pleased to partner with Heritage to expand the reach and capabilities of Retriev,” says Steve Kinsbursky, chairman and CEO of Retriev and president and CEO of KBI. “Our mission to bring a sustainable model of closed-loop recycling for critical materials that are necessary for the North American supply chain is one step closer to a reality with this merger.”
Moving forward, Heritage Battery Recycling will operate under the Retriev Technologies brand. Shane Thompson will serve as president of the combined company.
“Based on my 20-year career in battery recycling, no other company is better suited for success in this industry,” Thompson says. “The combined knowledge and experience in battery recycling and reuse, collection and transportation, safety and environmental compliance serves as an unmatched platform to responsibly support the rapidly growing battery space. We have comprehensive plans to continue to invest in and grow the company's product suite and capabilities.”