Li-Cycle in North America develops battery green recycling technology

[Aika Auto Industry News Original]

Recently, Li-Cycle, the largest battery recycling company in North America, issued a statement saying that its "Spoke and Hub" proprietary recycling method can decompose waste batteries and extract about 95% of valuable materials for reuse, thereby helping battery manufacturers reduce costs.

Li-Cycle claims that these batteries, regardless of size or shape, can be crushed by a mechanical process, resulting in two raw material lines. The first is black powdered positive and negative scrap consisting of lithium, nickel, cobalt, graphite, copper and aluminum. The second is scrap aluminum and copper scraped from insulating or conductive foils. Then, after another recycling process, these black powdery wastes are converted into high-quality lithium carbonate of the desired purity for use in cathode precursors and production processes. Through this process, cobalt sulfate and nickel sulfate can also be produced.

On December 14, LG Chem and its battery subsidiary LG New Energy invested $50 million in Li-Cycle to purchase about 2.2 million shares of Li-Cycle at a price of $11.32 per share, accounting for about 2.6% of Li-Cycle's shares. In addition to the equity investment, the two companies have signed a nickel supply agreement with Li-cycle. According to the agreement, Li-cycle will supply 20,000 tons of nickel to LG Chem and LG New Energy over 10 years from 2023.

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