Lithium-ion battery recycler Li-Cycle has opened its third recycling facility, in Arizona.

Natural resources giant Glencore has agreed to back the Canadian battery recycler to the tune of US$200 million.

Li-Cycle has been selected as preferred battery recycling partner to LG Chem and LG Energy Solution for their North America operations.

Redwood Materials CEO JB Straubel told a US Senate hearing his company already receives approximately 6GWh of end-of-life lithium-ion batteries for recycling annually. 

Li-Cycle has seen its revenues rise although the cost of expansion to meet expected future demand remains high.

US$100 million has been invested into North American lithium-ion battery recycling specialist Li-Cycle by a venture capital (VC) subsidiary of fossil fuels industry giant Koch Industries.