Li-Cycle will invest over $175 million to develop a commercial lithium-ion battery recycling and refining facility in Rochester, New York, with operations scheduled to begin in 2022, the company said Sept. 23.
"This facility will enable sustainable closed-loop production of critical materials for the battery industry, such as cobalt, nickel and lithium, right here in North America, supporting the development of electric vehicles and other sustainable energy applications," Li-Cycle Executive Chairman Tim Johnston said in a statement.
Li-Cycle said the Rochester plant will function as a hub that refines battery-grade materials from the 'black mass' product obtained from pre-processed, spent lithium-ion batteries.
The plant will source black mass from a nearby facility in Rochester, also owned by Li-Cycle, that is expected to begin operations in late 2020, the company added.
Annually, Li-Cycle said its hub plant will have the capacity to process an equivalent of 60,000 mt of batteries.
"Without sustainable and economically viable lithium-ion battery recycling, it's likely that electric vehicle proliferation will be substantially hindered," Li-Cycle CEO Ajay Kochhar said. "Truly innovative and circular battery recycling is the key to providing a solution for this urgent global challenge and opportunity."
Li-Cycle previously operated a demonstration Hub in Kingston, Ontario, to determine design criteria for the commercial plant in Rochester, the company said, adding that construction of the new facility is set to begin in 2021.
