Battery recycling companies are spending now for coming demand spike

October 1, 2021

Original video published in Kitco

All those electric vehicles being built will eventually need to be recycled, said Kunal Phalpher, Li-Cycle’s chief commercial officer.

Phalpher spoke to Kitco on Wednesday. Ontario-based Li-Cycle (NYSE:LICY) is focused on recycling lithium ion batteries.

In August of this year Li-Cycle completed a merger with Peridot and received net proceeds of $527 million. Li-Cycle is building processing facilities throughout North America, and the company said it is positioned to be the largest producer of recycled lithium in the world.

“As we get towards the end of the decade is when we’re going to see a big spike in demand as the first wave of electric vehicles come off the road,” Phalpher told Kitco.