Li-Cycle ($LICY) Opens New Lithium-ion Battery Recycling Facility in in Tuscaloosa, Alabama

Li-Cycle LICY, an industry leader in lithium-ion battery resource recovery, has announced that its Alabama recycling facility has commenced commercial operations.

Located in Tuscaloosa, Alabama, the new facility utilizes the company’s patented and environmentally friendly technology to recycle and directly process full electric vehicle battery packs without dismantling. Li-Cyle accomplishes this  through a submerged shredding process that produces no wastewater.

The company says that its Alabama Spoke facility is strategically located to support the recycling needs of its growing battery supply customer base in the southeastern U.S. region. 

Ajay Kochhar, co-founder and CEO of Li-Cycle stated: “We are excited to announce that our Alabama Spoke has commenced operations. This facility enhances our ability to support the recycling needs of our diverse and growing customer base in North America to ensure lithium-ion battery material is recycled in an environmentally friendly and safe manner. Li-Cycle is creating an essential domestic supply of recycled material to support EV production and assist automakers in meeting their domestic production content requirements.”

Across its four operating Spokes in North America, Li-Cycle now has a total input processing capacity of 30,000 tonnes per year, or the equivalent of batteries from approximately 60,000 EVs.

By the end of 2023, the Company expects to have a total of 65,000 tonnes per year of lithium-ion battery material processing capacity across its Spoke network in North America and Europe.

Shares of Li-Cycle trade on the NYSE under the ticker symbol LICY.

Source: Green Stock News