September 8, 2021
Original article published in Kitco
Li-Cycle Holdings (NYSE: LICY) said today it will build a fourth commercial lithium-ion battery recycling facility, to be located in Tuscaloosa, Alabama.
When completed, Li-Cycle estimates that its Spoke 4 facility will have an initial capacity of up to 5,000 tonnes of battery manufacturing scrap and end-of-life batteries per year, bringing Li-Cycle’s total North American recycling capacity to 25,000 tonnes per year.
“Our new facility in Alabama positions us well to meet the growing demand for lithium-ion battery recycling,” said Tim Johnston, Co-founder, and Executive Chairman of Li-Cycle. “Originally, we had planned on rolling out three commercial Spoke facilities in North America over the next five years, with a total recycling capacity of 20,000 tonnes per year. However, demand for lithium-ion battery recycling has continued to outperform our forecasts and we are now forecasting total recycling capacity of 30,000 tonnes per year. This facility is essential in filling a recycling gap in the southeastern United States. Like our Arizona Spoke, we expect the new facility to have the capability to process entire vehicle battery packs, without dismantling.”
In February Ontario-based Li-Cycle went public with blank-check acquisition valuing the recycler of lithium-ion batteries at $1.67 billion.