Hyundai Glovis is entering the fast-growing recycling market for used electric vehicle batteries by developing a renewable energy complex and power grid models in Shinan-gun, South Jeolla Province, the company said Monday.

Joining hands with Korea Hydro & Nuclear Power, Sinan County Office and LS Electric, the company will set up energy storage systems using used batteries next year to help the eco-friendly transition of the county’s fuel-based power plant.

Glovis said its ESS technology, using used EV batteries, will create more added value by saving energy and reducing carbon emissions.

The company said it will also cooperate with local authorities in building a hybrid power generation complex in the county, which will produce electricity using eco-friendly energy sources like solar, wind and green hydrogen as well as used batteries.

Last year, Hyundai Glovis applied for a patent on a special transport container for EV batteries in a preemptive action to prepare for its market potential. The container, which can be stacked in multiple layers, is currently being used for a pilot project that collects used batteries from junkyards and dealerships.