Li-Cycle, LG Chem (LGC) and LG Power Answer (LGES) have agreed to cooperate on battery recycling and gross sales.
Li-Cycle has agreed to recycle LGES’s battery manufacturing scrap and different lithium-ion battery materials from its North American manufacturing websites over a 10-year interval. Additionally, Li-Cycle has agreed to promote 20,000 tons of recycled nickel sulphate to LGC and LGES in the identical time-frame.
The nickel sulfate shall be produced at an under-construction Li-Cycle Hub situated in Rochester, New York. Li-Cycle estimates that the nickel sulphate to be bought to LGC and LGES below these preparations shall be “sufficient to supply lithium-ion batteries that may energy roughly 300,000 high-performing EVs.”
LGC and LGES additionally plan to take a position $50 million in Li-Cycle.
“Collectively, we’re driving sustainable world electrification via the creation of this milestone closed-loop ecosystem within the lithium-ion battery provide chain,” mentioned co-founder and CEO of Li-Cycle Ajay Kochhar.
Supply: Li-Cycle
