Ongoing supply chain challenges and the impact of Russia’s war on Ukraine have affected the quarterly revenues of LG Energy Solution.

Tesla is ambitious to grow its energy storage business in 2022, after it reported a 32% year-on-year increase in battery storage deployments, executives including CEO Elon Musk have said.

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.

Former Tesla battery guru JB Straubel’s materials recycling company Redwood Materials has attracted more than US$700 million in investment.

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.

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.

Canada-headquartered lithium-ion battery recycling specialist Li-Cycle will build its third facility in Arizona, joining plants the company already operates in Ontario and New York State.

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).

Northvolt has now raised in excess of US$3.5 billion of financing towards its aim of establishing 150GWh of advanced battery manufacturing facilities in Europe by 2030.