Car Battery Recycling At Last? New Agreement Touts 95% Recovery Of Lithium-Ion Units

Li-Cycle Holdings Corp LICY has signed a definitive agreement for a global lithium-ion battery recycling partnership with the KION Group, an industrial trucks and supply chain solutions provider.
Li-Cycle will recycle lithium-ion batteries from KION's global brands using its proprietary submerged shredding technology.
The agreement is for an initial period until 2030 and will position Li-Cycle as KION's preferred global recycling partner.
KION currently has a global fleet of more than 1.7 million industrial trucks.
Li-Cycle also plans to develop a new lithium-ion battery recycling facility in France to cater to the demand, including KION's lithium-ion battery recycling needs.
The plant is expected to have initial processing capacity of up to 10,000 tons of lithium-ion battery material per year, with optionality to expand to up to 25,000 tons per year.
"Li-Cycle's sustainable Spoke & Hub process enables up to 95 percent of the mass of a lithium-ion battery to be recovered and the critical minerals contained in those batteries to be used to manufacture new batteries," commented Andreas Krinninger, member of the Executive Board of KION. "This makes us one of the pioneers in the material handling industry in the field of recovery and recycling of lithium-ion batteries."
Price Action: LICY shares are trading lower by 0.51% at $4.85 on the last check Monday.