The company behind what is claimed will be the largest lithium-ion battery recycling facility in North America intends to process as much material as it can from the energy storage system (ESS) industry.
The Democratic Republic of Congo (DRC) supplies most of the world’s cobalt, but exporting semi-finished or finished products rather than raw materials would better help the country capture the value of the metal used in high power lithium-ion batteries.
A six-year lithium off-take contract signed by LG Energy Solution and supplier Sigma Lithium “signals the importance of securing lithium supply and the importance of ESG,” an industry supply chain expert has said.
China has once again been ranked top for involvement in the global lithium-ion battery supply chain by BloombergNEF, but for the first time the US has come in second amid a policy rush to support the domestic industry.
Lithium battery recycling company Li-Cycle is planning its fourth facility in North America, the company said, as it made its first financial results release since listing on the New York Stock Exchange (NYSE) in August.
Tesla has reported more than 200% year-on-year increases in both solar and energy storage deployments for the second quarter of this year, during which time the company also produced and delivered more than 200,000 vehicles.
A couple of new initiatives to support increased, sustainable production of lithium batteries for electric vehicles and for the grid have been launched by names that will likely be familiar to Energy-Storage.news readers.
The stationary energy storage system (ESS) industry will be a significant source of lithium-ion batteries that can be recycled and reused, the head of Finnish state-owned energy company Fortum’s battery business line has said.