August 1, 2023
Original article published via Reuters
Li-Cycle (LICY.N) said on Tuesday it has started operations at its German plant to break down electric-vehicle batteries for recycling, part of the company’s rapid expansion into the European market and plan to become one of the continent’s largest lithium producers.
The facility in Magdeburg, roughly 112 miles (180 km)southwest of Berlin, has the capacity to process 10,000 metric tons of battery parts annually, an amount that will eventually grow to 30,000 tonnes.
The plant is Li-Cycle’s first in Europe and will anchor the company’s plans to replicate its North American hub-and-spoke network, in which multiple collection and processing facilities turn batteries into black mass, which is essentially shredded battery parts, and then supply a central recycling plant that will separate the material into lithium, nickel and other metals.
“We see the European market as one of our key growth areas for the coming years,” Tim Johnston, Li-Cycle’s executive chairman, told Reuters.
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