1Sem.·

Huge profits from PV waste?

Brief profile:

Umicore $UMICY (-2,15 %) is a Belgian technology group specializing in the recycling of precious and special metals, battery materials and catalysts. The company employs over 11,000 people worldwide.

Why exciting in the PV sector:

Solar modules have a lifespan of 25-30 years. From 2030, the first big wave of old modules will be produced.
PV modules contain valuable raw materials such as silver, silicon, copper and aluminum.
Umicore has the technology and experience to recover these metals efficiently - a real competitive advantage over traditional disposal companies.

Market potential:

According to IRENA, >60 million tons of PV waste could be generated by 2050.
Recycling is mandatory in the EU (WEEE Directive), manufacturers must take back modules.
High metal prices further increase the profitability of recycling.

Opportunities:

PV recycling + battery recycling (e-cars) = megatrends of the coming decades
Solid core business with precious metal recycling secures ongoing sales
Support from EU climate policy & circular economy

Risks:

Profits heavily dependent on metal prices
PV recycling currently still a topic for the future, hardly any contribution to sales
Competition in the battery sector, especially from Asia

Conclusion:

Umicore $UMICY (-2,15 %) is not a pure PV play, but is strategically well positioned for the coming boom in PV and battery recycling. Anyone who believes in the megatrend of the circular economy and the energy transition should keep an eye on the share.

7 Commentaires

Chris@Multibagger

1Sem.

Interesting report, even if it is out of the question for me as an investment, as it will probably grow solidly but not rocket-like, i.e. it will fail to meet my minimum return figures. But what interests me! Rare earths are needed for PV, batteries etc.. Are they also recyclable in the scrap?

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Maximilian@Max095

1Sem.

@Multibagger Unfortunately, I don't know enough about this or about overbuilding.

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TorteInYourFace@TorteInYourFace

1Sem.

@Multibagger
In fact, neither batteries nor solar systems contain rare earths, even though this has been claimed in every article for years.
However, solar cells in particular do contain rare and valuable substances, so there is definitely something to be gained there.
Batteries, on the other hand, are 90% iron. Not worthless, but not exactly the hot shit either.

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Chris@Multibagger

1Sem.

@TorteInYourFace thanks for the info

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Maximilian@Max095

1Sem.

@Multibagger Hi Chris, would $LI be of interest to you at the moment?

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Chris@Multibagger

1Sem.

@Max095 No, lithium explorers are totally uninteresting for me. Very often, when it comes to mining, the whole business is no longer profitable due to the sharp fluctuations in lithium prices. And lithium has not yet been affected by the China ban.

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felipe estupendo@felipeestupendo

1Sem.

Unfortunately, there are many companies researching and working on this. Umicore is certainly one of the biggest. But BASF is also behind it. But only batteries for the time being:
https://www.basf.com/global/en/media/news-releases/2025/06/p-25-112

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