Battery recycling – li-cycle wins 2023 bloomberg new energy finance pioneers award. Li-Cycle Holdings Corp. (NYSE: LICY) (“Li-Cycle” or the “Company”), an industry leader in lithium-ion battery resource recovery and the leading lithium-ion battery recycler in North America, announce that it has been selected as a winner for the Bloomberg New Energy Finance (BNEF) Pioneers Award for 2023.
Li-Cycle was recognized in the ‘Sustainable Metals and Materials for an Electrified Future’ category of the BNEF Pioneers Award for its patented and proven commercial Spoke & Hub Technologies™. This technology enables up to a 95% recycling efficiency rate and returns valuable battery-grade materials found within lithium-ion batteries and battery manufacturing scrap into the supply chain.
Li-Cycle’s commitment to sustainability is core to its business model, which uses innovative technology to ensure its operations have an efficient environmental footprint, including processes that have minimal solid waste streams to landfill, minimal wastewater discharge, and relatively low air emissions.
Ajay Kochhar, Li-Cycle’s co-founder and CEO, said:
We are honoured to be selected as a 2023 BNEF Pioneers award winner.
“This prestigious award recognizes Li-Cycle’s innovative and sustainable recycling technologies, which are playing a critical role in accelerating global decarbonization. We are continuing to scale globally to grow in lockstep with our customers and position ourselves as the world’s preferred lithium-ion battery recycling partner as we build a closed-loop battery supply chain.”
BNEF is a leading strategic research provider covering disruptive technologies on the pathways to drive the transition to a low-carbon economy. For more than a decade, the BNEF Pioneers program has identified a group of game-changing technologies or innovations annually – each with the potential to accelerate global decarbonization and halt climate change.
The winners, who were evaluated by a team of lead analysts at BNEF, proved they offer a novel, scalable, and competitive solution and were judged on their potential impact on greenhouse gas emissions and environmental sustainability, innovation, and likelihood of adoption.
The full list of winners is available at: https://about.bnef.com/bnefpioneers/.
Spoke & Hub Technologies™
Li-Cycle’s Spokes, the first stage of the Company’s vertically-integrated business model, safely recycle battery materials through a proprietary submerged shredding process to produce ‘black mass,’ an intermediate product which contains highly valuable metals, including lithium, nickel, and cobalt. Li-Cycle’s ‘Generation 3’ Spokes have the capability to directly process full electric vehicle (EV) and energy storage battery packs without any manual dismantling, which enhances safety and efficiency.
Li-Cycle currently operates four Spokes in North America with a total processing capacity of 51,000 tonnes of lithium-ion battery material per year. Li-Cycle is growing in Europe, with its Germany Spoke expected to start operations in mid-2023, and new Spokes being developed in Norway and France, which will bring Li-Cycle’s future planned capacity across its global Spoke network to more than 100,000 tonnes of lithium-ion battery material per year.
At Li-Cycle’s Hub facilities, the second stage of its vertically integrated process, Li-Cycle will process black mass to produce battery-grade materials. Li-Cycle’s first commercial Hub facility is under construction in Rochester, New York (the “Rochester Hub”) and is on track to commence commissioning in late 2023. The Rochester Hub is expected to be the first-of-its-kind commercial facility and the first source of recycled battery-grade lithium carbonate in North America.
It is designed to process the equivalent of up to approximately 90,000 tonnes, or 18 GWh, of lithium-ion battery material per year. Once fully operational, the Rochester Hub is expected to deliver annual production of 7,500 to 8,500 tonnes of battery-grade lithium carbonate, 42,000 to 48,000 tonnes of battery-grade nickel sulphate, and 6,500 to 7,500 tonnes of battery-grade cobalt sulphate, in addition to other valuable materials. The Rochester Hub is expected to be one of the largest sources of lithium supply in North America.
About Li-Cycle Holdings Corp.
Li-Cycle (NYSE: LICY) is on a mission to leverage its innovative Spoke & Hub Technologies™ to provide a customer-centric, end-of-life solution for lithium-ion batteries, while creating a secondary supply of battery-grade materials. Lithium-ion rechargeable batteries are increasingly powering our world in automotive, energy storage, consumer electronics, and other industrial and household applications.
The world needs improved technology and supply chain innovations to better manage battery manufacturing waste and end-of-life batteries and to meet the rapidly growing demand for critical and scarce battery-grade raw materials through a closed-loop solution. For more information, visit https://li-cycle.com/.
Li-Cycle Wins 2023 Bloomberg New Energy Finance Pioneers Award, Toronto April 17, 2023
