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Lithium-Ion Recycler Li-Cycle Lands $200 Million To Power Future Evs

May 05, 2022over 3 years ago

Amount Raised

$200 Million

TorontoRenewable EnergyEnergy

Description

Metals and fossil fuels behemoth Glencore is pumping $200 million into battery recycler Li-Cycle, as part of a larger, symbiotic supply deal inked by the two firms.

Company Information

Company

Li Cycle

Location

Toronto, Ontario, Canada

About

Li-Cycle (NYSE: LICY) is a leading global lithium-ion battery resource recovery company. Established in 2016, and with major customers and partners around the world, Li-Cycle’s mission is to recover critical battery-grade materials to create a domestic closed-loop battery supply chain for a clean energy future. The Company leverages its innovative, sustainable and patent-protected Spoke & Hub Technologies™ to recycle all different types of lithium-ion batteries. At our Spokes, or pre-processing facilities, we recycle battery manufacturing scrap and end-of-life batteries to produce black mass, a powder-like substance which contains a number of valuable metals, including lithium, nickel and cobalt. At our future Hubs, or post-processing facilities, we plan to process black mass to produce critical battery-grade materials, including lithium carbonate, for the lithium-ion battery supply chain.

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