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Sign upMarch 12, 2024
Glencore
Toronto
Glencore has selected Li-Cycle as one of its preferred recycling collaborators, leading to a strategic commercial alliance between the two entities. The goal is to establish an integrated platform capable of supplying primary and recycled critical battery materials to a global clientele. As part of this collaboration, Glencore had previously invested $200 million in Li-Cycle through the acquisition of a convertible note in June 2022 (referred to as the "Existing Note"). Glencore serves as a battery feedstock partner for Li-Cycle's Spoke facilities and is poised to become a supplier of both black mass and essential reagents for Li-Cycle's upcoming Hub facilities.
By combining expertise and resources, the collaboration will help ensure a reliable and sustainable supply of critical materials, supporting the growth of the electric vehicle industry while promoting environmental responsibility and circular economy practices.
Traditionally, when li-ion batteries have reached the end of life, they have predominantly been treated as waste and landfilled, or partially recycled through pyro-metallurgical processes, which have average recovery rates of 40%. However, these methods are inefficient and can lead to environmental contamination, safety hazards at general recycling plants and otherwise dampen the environmentally friendly vision of electrification. Li-Cycle Technology™ aims at recycling all types of lithium-ion batteries used in electronic devices, electric vehicles and energy storage. It can do so with an unparalleled recovery rate of over 95% of all materials. The company’s industry-leading processing technologies uniquely position it to be a key player in supporting the growing international movement towards zero-carbon technologies and the creation of a circular economy for lithium-ion batteries.
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