Li-Cycle Inks Long-Term Battery Recycling Relationship With VinES; Eyes Dedicated Spoke Plant In Vietnam

Li-Cycle Holdings Corp LICY has signed an agreement with VinES Energy Solutions for long-term battery recycling. The financial terms were not disclosed.
From 2024, Li-Cycle will be a strategic and preferred recycling partner for VinES' Vietnamese-sourced battery materials.
The agreement further provides the possibility to construct a dedicated Spoke located close to VinES' manufacturing site, which will benefit from the local demand for lithium-ion battery recycling solutions.
Also Read: Car Battery Recycling At Last? New Agreement Touts 95% Recovery Of Lithium-Ion Units
An investment decision regarding the dedicated Spoke facility is expected to be made in 2025.
Meanwhile, Li-Cycle will facilitate the processing of VinES' material utilizing its North American Spoke network.
"By recycling battery production scrap and used batteries into the global mobility and energy storage industries, we can achieve a sustainable supply chain while reducing environmental impacts," said Pham Thuy Linh, CEO of VinES.
Price Action: LICY shares are trading higher by 0.89% at $5.68 on the last check Wednesday.