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Need to Know

Battery Recycler Li-Cycle Gets a $100 Million Investment

Getty Images Lithium-ion Batteries

Koch Strategic Platforms will buy a convertible note to support North American lithium-ion battery recycling specialist Li-Cycle’s rapidly expanding growth opportunities in North America, Europe and Asia. Li-Cycle currently operates facilities in Kingston, Ontario and Rochester, New York. The company has plans to open additional facilities in Arizona and Alabama and New York, which will create a closed loop recycling ecosystem.

Lithium-ion battery recycling and recovery is vital for the electrification of transportation. Li-Cycle has a strong portfolio of customers and strategic partners.

Li-Cycle has two types of facility. The Spokes facilities are where batteries are reduced down to produce black mass, which contains materials including lithium, cobalt and nickel that can be recovered, while the Hubs process that recovered black mass back into usable high purity materials. 

The Koch Strategic Platforms investment will further fund and accelerate the growth of Li-Cycle’s lithium-ion battery recycling footprint in North America and globally.

Read the complete story here.

 

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