Recycling & Waste Management
Hyundai Invests Big in German PV Recycling Company
The South Korean industrial giant has acquired a minority stake in the solar start-up Flaxres.
Feb 07, 2024
The investment takes the value of Flaxres, which is located in the eastern German city of Dresden, to the nine-figure level.
The firm has developed a patented process it calls “flash lamp annealing” to make recycling photovoltaic units more ecological, cost-efficient and fast.
“We are delighted that we have been able to attract a major strategic investor and partner with whom we will jointly develop global markets for our technological solution," said Flaxres founders Michael Rudolf Heuschkel and Harald Gross in a statement.
The German PV recycling sector is still quite new but is expected to expand dramatically will the increased use of solar power in the country.
