Charged EVs | Quebec invests $22.5 million in battery recycling agency Lithion
Battery recycling expertise firm Lithion has acquired $22.5 million in funding from the Quebec authorities. It can use the funding to develop its services in Quebec.
Some might be invested in a battery dismantling and reprocessing plant the corporate expects to open in 2023, and a few will finance engineering research for the development of a hydrometallurgical plant that’s scheduled to open in 2025. The corporate additionally plans to take a position among the funding in a Know-how Growth Middle that may proceed to develop Lithion’s expertise for future battery chemistries and supplies.
“Technological advances and course of optimization effected in our demonstration plant over the previous two years elevated the attractiveness to international gamers within the transportation electrification ecosystem who need to license the Lithion resolution to deal with the wants of their native markets,” mentioned Lithion CEO Benoit Couture. “We’re getting into an thrilling part of our enterprise improvement right here, in Asia, and shortly, within the US and Europe.”