Following the discovery of a waste dump near Chevren Bryag, where parts of accumulators or residual end waste from accumulators carrying an old Monbat logo were reportedly found, Monbat Group reiterates that it does not own or manage any waste management facilities.
Monbat Group produces lead from scrap batteries and polypropylene from their plastic components as an input for its manufacturing process, so there is no rationale for Monbat to dispose of old accumulators. To the contrary, Monbat purchases old accumulators and recycles over 95% of each old or used battery in its recycling plants contributing greatly to the development of the circular economy in Europe and protection of the environment globally. Monbat’s business model is based on setting up recycling plants in various countries (currently Monbat owns such plants in Bulgaria, Romania, Serbia and Italy) to collect old batteries, which would otherwise be harmful to the environment, and use these batteries as a “raw material” for new batteries that Monbat produces and subsequently sells.
A small percentage of a battery that cannot be further recycled is so-called “end technological waste” and amounts to less than 5% of each battery. Monbat contracts a number of companies which deposit, dispose or manage this waste. All of these companies are licenced operators and are obliged to have proper documentation and operations and to respect Bulgarian and EU laws.
Monbat Group strongly condemns any unlawful activities that may cause damage to the environment by any parties. It reserves the right to terminate business relations, and/or initiate legal actions against third party operators if they breach contractual obligations and/or environmental legislation.
Monbat AD is a publicly listed company which is a pioneer in the circular economy, and one of Bulgaria’s best international industrial success stories. The European Bank for Reconstruction and Development (EBRD) is one of the major shareholders and investors in the Company. Other shareholders also include large pension funds Doverie and Allianz.
Monbat AD is a key European player in battery production based on full recycling cycle, with production facilities in Bulgaria, Serbia, Romania, Italy and Germany.
The company has made sizable investments into Germany, where with the support of the German government Monbat AD has developed a Lithium-Ion battery technology proposition, which constitutes an important part of the local green economy.
The company has also undertaken sizable investments in revitalising a recycling plant in Italy by far enlarging the footprint of its circular economy activities.
For more information you can contact:
For Monbat AD
Contact for investors:
Daniela Peeva, IR Director
Vanya Babanin, Director Marketing and Communications