Lithium-ion batteries (LIBs) are currently the gold standard for Electric Vehicle (EV) batteries, as well as other electronics like laptops and phones. LIBs are so popular because they are lightweight and have a high energy density.
But how do LIBs work? Batteries are made up of an anode, cathode, separator, electrolyte, and two current collectors. The anode and the cathode are responsible for storing lithium, a key ingredient in batteries. The electrolyte carries the positively charged lithium ions to and from the anode and cathode. The separator is what the lithium ions move across in between the anode and cathode. The movement then creates a charge at the positive current collector and flows to the device it's powering, like a car or cell phone.
Lithium is a highly reactive element, which is one of the reasons its use has been so successful in batteries. The highly reactive characteristic means a lot of energy can be stored in its atomic bonds. This makes lithium-ion batteries have high energy density and are more optimal for a variety of uses. LIBs also have a relatively quick charging rate.
The majority of Lithium today is mined from what is globally known as the “Lithium Triangle,” a junction of Argentina, Chile, and Bolivia. The Lithium Triangle makes up more than 58% of the world’s supply. According to a new study by the Natural Resources Defense Council, the global lithium demand is expected to increase sixfold by 2030 and the majority of the demand is coming from carmakers.
While lithium is essential to the future of EV batteries, lithium mining doesn’t have to be. Recycling and upcycling old batteries into ready-to-use battery components are the future of EVs.
Why Recycling Is Crucial To The Future Of EVs
As the EV industry continues to expand, the need for recycled batteries is inevitable. Not only will lithium be harder to mine as the finite resources are used up but stricter environmental regulations will require higher percentages of recycled materials in future vehicles.
Europe is setting stricter regulations for EV batteries and the US Department Of Energy has shared that they are working to allocate $335 million in funding for lithium-ion battery recycling. Because of this, carmakers will have to shift to a more circular approach to EV batteries.
A circular economy is one where existing products are recycled and reused to decrease waste and provide a sustainable source of materials. A circular economy not only benefits the environment by limiting single-use products and over-extraction of valuable materials, but a circular economy can also benefit industries and supply chains. Companies can be more integrated and resource independent.
RecycLiCo Battery Materials Inc. AMYZF is one of the companies pioneering recycling-upcycling technology. RecycLiCo is a battery materials company focused on recycling and upcycling lithium-ion batteries. It has created a patented, closed-loop hydrometallurgical process that can capture up to 100% extraction of lithium, cobalt, nickel, and manganese from waste LIB material and integrate the materials into the remanufacturing of new LIBs.
RecycLiCo recovers up to 100% of cathode metals from battery scrap and upcycles them to high-purity, battery-ready materials. Because of their closed-loop process, RecycLiCo’s process has a lower environmental impact compared to competitors that have complex processing and purification steps that result in extensive liquid and waste production.
RecycLiCo has already seen success using its process. In a successful test, a Korean cathode manufacturer used the company’s recycled-upcycled precursor cathode active material to create battery cells. RecycLiCo’s NMC 811 precursor comprising nickel, manganese, and cobalt oxide outperformed other recycled cathode precursor materials. Additionally, RecycLiCo’s product performed at the same level as existing commercial NMC 811 precursor material.
The future of EVs would seem to be intrinsically linked to recycled materials, and companies like RecycLiCo seem sure to be part of the expansion.
This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.
Photo by Andreas Dress on Unsplash
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.