Battery Recycling Group Li-Cycle Announces $75 Million Investment From Glencore

Li-Cycle, a Canadian lithium-ion battery resource recovery company, has announced a $75 Million investment from Glencore plc, a global producer of natural resources. Glencore has designated Li-Cycle as one of its preferred recycling partners.

The two companies have entered into a strategic commercial partnership aimed to create an integrated platform to supply a global customer base with both primary and recycled critical battery materials.

As part of the partnership, Glencore previously made a $200 million investment in Li-Cycle in June 2022.

Li-Cycle leverages its sustainable and patent-protected Spoke & Hub Technologies to recycle all different types of lithium-ion batteries. 

Glencore is a battery feedstock partner for Li-Cycle’s Spoke facilities, as well as a future supplier of 'black mass' for Li-Cycle’s future Hub facilities. 

Tim Johnston, Li-Cycle co-founder and Executive Chairman, says: “As part of our previously announced comprehensive review, Li-Cycle is continuing to review our global recycling network. We are also reviewing our go-forward strategy for the paused Rochester Hub, including analyzing potential end-product mix options and construction strategy. We believe the demand for critical battery materials continues to accelerate and Li-Cycle continues to work to position itself as a future leader in the production of critical battery materials through our sustainable, safe, and patented recycling technology.”

Kunal Sinha, Global Head of Recycling for Glencore, and Non-Executive Director of Li-Cycle’s Board of Directors, adds: “Glencore is committed to bringing scalable and sustainable circularity into the supply chain of battery materials. Our original investment in Li-Cycle, alongside key commercial agreements, formed part of this strategy. Today, we are pleased to further support Li-Cycle through this additional $75 million investment so both Li-Cycle and Glencore can continue to build the battery circularity platform of choice for our customers.”

Established in 2016,  Li-Cycle’s mission is to recover critical battery-grade materials to create a domestic closed-loop battery supply chain for a clean energy future.