EV Battery Recycling

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Tracking the most important developments in the U.S. EV Battery Recycling industry

 


May 2023

Glencore and Li-Cycle announce joint study to develop a European recycling hub

May 9th, 2023

  • If built, the plant would be the largest source of recycled battery grade lithium as well as recycled nickel and cobalt in Europe.
  • Expected new Hub processing capacity of 50,000 to 70,000 tonnes of black mass input per year.
  • The plan is to repurpose an existing Glencore metallurgical facility in Portovesme, Italy.
  • The DFS is expected to be completed by mid-2024. Subject to final investment decision, construction will begin in late 2026 or early 2027.

Photo Source: Glencore

Read more: Reuters | Li-Cycle Press Release | Glencore Press Release

 


April 2023

Platts Launches Daily Black Mass Spot Price Assessments for China and Europe

April 17, 2023

  • Platts, part of S&P Global Commodity Insights, has launched nine new daily black mass spot price assessments for China and Europe, effective April 17, 2023.
  • The recycling of black mass has become increasingly important as a supplement to virgin material supply, as well as reducing the carbon footprint of the battery supply chain.
  • Another important step forward in the building out of the global battery recycling industry.

Photo Source: S&P Global

Read more: Platts Announcement 


February 2023

Li-Cycle Receives Conditional Commitment for $375 Million Loan from the U.S. Department of Energy ATVM Program

February 27, 2023

  • Supports Li-Cycle’s Rochester Hub, which is expected to be the first source of recycled battery-grade lithium in North America
  • Subject to documentation of long-form agreements and certain conditions will have to be satisfied prior to closing, which is currently expected to occur in calendar Q2 2023
  • The loan will have a term of up to 12 years, paying the rate of a 10 year U.S. Treasury Bond.

Read more: Batteries News | Li-Cycle Press Release | Dept of Energy Press Release

Listen: My Climate Journey Podcast Jiggar Shah (DoE Loan Program Office) and Ajay Kochhar (CEO, Li-Cycle) discuss the loan

 



Loan Program Office announces $2 billion loan commitment to Redwood Materials

February 9, 2023

  • For construction and expansion of Redwood’s first battery materials campus in McCarran, Nevada
  • Money is from the Advanced Technology Vehicles Manufacturing Loan Program (ATVM)
  • Would be the first domestic facility to support production of anode copper foil and cathode active materials in a fully closed-loop lithium-ion battery manufacturing process

Photo Source: U.S. Department of Energy

Read more: Canary Media | Redwood Press Release | Dept of Energy Press Release


December 2022

Redwood Materials to Build $3.5 billion factory in Charleston, South Carolina

December 14, 2022

  • The factory will recycle spent lithium-ion batteries and manufacture anode and cathode components
  • Plan to break ground in Q1 2023, with the first recycling process running by the end of 2023

Photo Source: Redwood Materials

Read more: Reuters | Axios | Press Release


November 2022

Redwood Materials and Panasonic announce Cathode Material supply deal

November 15, 2022

  • Panasonic will source Redwood’s cathode material for battery cell production in Panasonic’s new Kansas plant
  • Targeted to come online in 2025
  • Will be the first time cathode has been produced in North America at Gigafactory scale and used in U.S. battery cell manufacturing

Photo Source: Redwood Materials

Read more: Reuters | CNBC | Press Release


October 2022

U.S. Department of Energy Awards $480M in Grants to Ascend Elements

October 19, 2022

  • Ascend Elements received two grants from the DOE totaling $480m for the production of sustainable lithium-ion battery cathode materials made from recycled battery feedstock.
  • Grants will support the construction of the planned $1B Apex facility in Hopkinsville, Ky. yielding over $4.4B in positive economic impact for the region.
  • Apex facility expected to produce enough material to supply over 250,000 electric vehicles annually.
  • Money is from the Bipartisan Infrastructure Law

Photo Source: Ascend Elements

Read more: Hoptown Chronicle | Full List of Grant Recipients | Press Release


July 2022

Redwood Materials and Volkswagen announce US Battery Recycling Partnership

July 13, 2022

  • Redwood Materials will recycle all end-of-life batteries from Volkswagen and Audi electric vehicles for Volkswagen Group of America
  • Volkswagen Group of America is aiming for 55% of its U.S. sales to be fully-electric by 2030

Photo Source: Volkswagen Group of America

Read more: Reuters | Tech Crunch | Press Release


June 2022

Toyota to Collaborate with Redwood Materials

June 21, 2022

  • Toyota and Redwood Materials will explore a series of end-of-life battery solutions for Toyota’s proposed battery ecosystem
  • Initially, this collaboration will focus on the collection, testing and recycling of Toyota hybrid electric vehicle batteries.
  • The companies will then look to expand into other areas such as battery health screening and data management, remanufacturing and battery material supply throughout North America.

Photo Source: Toyota, Redwood Materials

Read more: Reuters | Tech Crunch | Press Release


May 2022

Glencore to Invest $200 million in Li-Cycle

May 5, 2022

Li-Cycle EV Battery Recycling
  • Switzerland-based Glencore’s investment will come in the form of a $200 million note that is convertible to equity at $9.95 per share
  • Glencore will gain a seat on Toronto-based Li-Cycle’s board

Photo Source: Li-Cycle

Read more: Reuters | Energy Storage News | Press Release



Li-Cycle Opens Lithium-Ion Battery Recycling Facility in Arizona

May 17, 2022

  • The facility will be capable of processing up to 10,000 tonnes of end-of-life batteries and battery manufacturing scrap per year
  • That is the equivalent of batteries required for around 20,000 EVs

Photo Source: Li-Cycle

Read more: Energy Storage News | Press Release

Watch: YouTube


April 2022

LG Energy Solution and LG Chem Officially Recognize Li-Cycle as their Preferred Lithium-ion Battery Recycling Partner in North America

April 21, 2022

  • Li-Cycle to Supply LG Chem and LG Energy Solution with 20,000 Tonnes of Nickel over 10 Years, Enough to Power Approximately 300,000 High-Performing EVs
  • LG Energy Solution to Provide Li-Cycle Nickel-bearing Battery Manufacturing Scrap for Recycling over 10 Years
  • LG Chem and LG Energy Solution to Proceed with Investment in Li-Cycle Common Shares

Photo Source: Li-Cycle

Read more: Energy Storage News | Press Release


Year 2021

Li-Cycle Begins Trading on NYSE

August 11, 2021

  • Li-Cycle went public via a SPAC deal with Peridot Acquisition Corp with a forma equity value of $1.55B
  • CEO Ajay Kochhar gave an interview to TD AmeriTrade:

Read more: Press Release

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