Heritage-Crystal Clean invests in battery recycling partner

ELGIN - Heritage-Crystal Clean Inc. Tuesday said it has invested in its battery recycling partner, HBR Retriev Holdco LLC, based in Coral Gables, Florida.

Retriev is an integrated battery recycling platform that includes the operations of Heritage Battery Recycling, Retriev Technologies and Battery Solutions. Retriev is the only complete service provider for lithium and cross-chemistry in the industry, offering battery-centric logistics, collection program solutions and second-life applications.

Financial terms of Heritage-Crystal Clean's investment were not disclosed.

This investment, together with the logistics services agreement HCC executed with Retriev earlier this year, positions HCC to further capitalize on the opportunity to provide comprehensive collection and recycling services to businesses throughout the U.S. and Canada, the company said.

Heritage-Crystal Clean provides machine parts cleaning, used oil re-refining and hazardous and nonhazardous waste services, primarily to small and mid-size manufacturers and other industrial businesses, as well as customers in the vehicle maintenance sector.

"We are very excited with this investment as we believe it provides a great opportunity for our shareholders to benefit further from the growing electrification of our economy," said Brian Recatto, president and CEO of Elgin-based Heritage-Crystal Clean.