The Canadian battery recycler Li-Cycle is receiving a conditional loan of $475m (ca. €450m) from the US Department of Energy (DOE) to support the completion of its black mass hydrometallurgical recycling hub in Rochester, New York. The new loan involves a commitment of $100m more than planned under the initial loan agreement with the DOE which was announced in early 2023.
The state financing is to help the company, which is also supported by the Swiss commodities group Glencore, to build what is to be "a significant domestic source of recycled critical materials for producing lithium-ion batteries, including battery-grade lithium carbonate and MHP (mixed hydroxide precipitate)", Li-Cycle reported....
