Equity investors have already committed more than US$300 million to lithium battery recycler Li-Cycle’s plan to go publicly-listed through a special purpose acquisition company (SPAC) merger.
A lithium-ion battery recycling plant is under construction in Norway, focusing initially on electric vehicle (EV) batteries, but the CEO of the company behind it has said that it will also be capable of processing batteries from stationary energy storage systems (ESS).
It will be in the interests of more or less everybody involved in the “broader lithium-ion battery supply chain” to establish effective recycling ecosystems, according to an analyst with IHS Markit.
A new lithium battery recycling facility, established by operator Li-Cycle on a commercial basis at the well-known Eastman Business Park in New York State, answers both a growing need and an opportunity in an “unprecedented phase” of deployment, the company has said.
Canada-headquartered start-up Li-Cycle has claimed a victory in commercialising its lithium battery recycling processes, with a shipment sent to a customer just before the end of last year.
Lithium-ion batteries are far more widely recycled than many people think, while China and South Korea are already leaders of the emerging circular economy of lithium, a report commissioned by the Swedish Energy Agency has found.