Skip to main content

North America’s first battery-grade recycling hub just scored a $375M loan

The US Department of Energy (DOE) is going to finance a huge recycling hub that will support the battery needs of around 203,000 EVs a year.

The DOE’s Loan Programs Office  (LPO) today announced a conditional commitment to lithium-ion battery recycling company Li-Cycle for a $375 million loan to help construct North America’s first commercial lithium-ion battery resource recovery facility in Rochester, New York.

As is the norm with LPO loans, its finalization is subject to certain conditions being met, but the loan is expected to close in second quarter 2023.

The Toronto-based Li-Cycle’s Rochester Hub will become a significant US source of battery-grade materials, including lithium, nickel, and cobalt.

Li-Cycle is already North America’s largest lithium-ion sustainable pure-play battery recycler, and the DOE loan is going to enable the company to expand its operations.

As Electrek reported in December 2021, Li-Cycle operates four US battery recycling centers it calls “Spokes,” and they process battery materials. The Spokes will send the processed materials to the Rochester Hub, which will then recycle them into battery grade end-products for reuse in lithium-ion battery production.

At peak construction, the Rochester Hub is expected to create more than 1,000 construction jobs, and once it’s fully online, it will support around 270 permanent operations jobs. 

Li-Cycle expects construction of its Rochester factory to be complete this year.

The Biden administration’s Inflation Reduction Act has triggered a surge in companies opening clean energy manufacturing facilities in the US. Senator Chuck Schumer (D-NY) said today:

This DOE investment in Li-Cycle will reduce our reliance on China and strengthen America’s battery supply chain.

And once the facility is at full steam, it is projected to be the biggest source of lithium carbonate in the United States.

Photo: Li-Cycle


UnderstandSolar is a free service that links you to top-rated solar installers in your region for personalized solar estimates. Tesla now offers price matching, so it’s important to shop for the best quotes. Click here to learn more and get your quotes. — *ad.

FTC: We use income earning auto affiliate links. More.

Stay up to date with the latest content by subscribing to Electrek on Google News. You’re reading Electrek— experts who break news about Tesla, electric vehicles, and green energy, day after day. Be sure to check out our homepage for all the latest news, and follow Electrek on Twitter, Facebook, and LinkedIn to stay in the loop. Don’t know where to start? Check out our YouTube channel for the latest reviews.

Comments

Author

Avatar for Michelle Lewis Michelle Lewis

Michelle Lewis is a writer and editor on Electrek and an editor on DroneDJ, 9to5Mac, and 9to5Google. She lives in White River Junction, Vermont. She has previously worked for Fast Company, the Guardian, News Deeply, Time, and others. Message Michelle on Twitter or at michelle@9to5mac.com. Check out her personal blog.


Manage push notifications

notification icon
We would like to show you notifications for the latest news and updates.
notification icon
You are subscribed to notifications
notification icon
We would like to show you notifications for the latest news and updates.
notification icon
You are subscribed to notifications