It’s anticipated to create the primary European absolutely closed-loop answer from lithium-ion battery materials inputs to battery-grade merchandise; is the biggest supply of recycled battery-grade lithium in addition to recycled nickel and cobalt in Europe
Li-Cycle Holdings Corp. (NYSE: LICY) (“Li-Cycle” or the “Firm”), a frontrunner within the lithium-ion battery useful resource restoration trade and the main lithium-ion battery recycler in North America, and Glencore Worldwide AG , a completely owned subsidiary of Glencore plc (LON: GLEN ) (“Glencore”), a number one producer, recycler, and marketer of nickel and cobalt for the manufacture of batteries of lithium-ion, signed a Letter of Intent to collectively examine the feasibility of, and later, construct a Hub facility in Portovesme, Italy (the “Portovesme Hub”). The Portovesme Hub can produce essential battery supplies, together with nickel, cobalt and lithium from recycled battery content material.
The Portovesme Hub will use state-of-the-art hydrometallurgical Li-Cycle know-how and is predicted to turn into the biggest producer of sustainable battery-grade merchandise in Europe.
Situated in Sardinia, Italy, the Portovesme metallurgical complicated consists of a lead-zinc smelter and hydrometallurgical facility that first started operations in 1929. The Portovesme web site has substantial current infrastructure, together with entry to a port, utilities, processing tools from the hydrometallurgical plant and an skilled workforce.
Li-Cycle and Glencore will collectively provoke a definitive feasibility examine (“DFS”) for this mission inside 60 days of this announcement. The DFS is predicted to be accomplished by mid-2024. Topic to a closing funding determination by the events, the mission will proceed building with the commissioning of the Portovesme Hub anticipated to begin in late 2026 to early in 2027.
Li-Cycle and Glencore additionally anticipate forming a 50/50 three way partnership that may repurpose a part of the prevailing Glencore metallurgical complicated in Portovesme, Italy to create the Portovesme Hub. This allows a cost-efficient and speedy growth plan. The mission can also be contemplating aggressive long-term financing from Glencore to fund Li-Cycle’s portion of the capital funding.
As soon as operational, the Portovesme Hub is predicted to have a processing capability of as much as 50,000 to 70,000 tons of black mass per 12 months, or the equal of as much as 36 GWh of lithium-ion batteries. The black mass processed on the Portovesme Hub is predicted to be provided from Li-Cycle’s rising Spoke community in Europe and thru Glencore’s business community. The Portovesme Hub is predicted to be the primary facility of its type and scale to return on-line in Europe. Along with Li-Cycle’s Spoke community, and Glencore’s battery circularity platform, this facility allows Europe to get one step nearer to closing the loop on manufacturing scrap, in addition to end-of-life batteries, fully inside Europe, utilizing hydrometallurgical processes.
Tim Johnston, co-founder and Government Chair, Li-Cycle, commented:
“The deliberate Portovesme Hub is a key mission for the European battery recycling trade and is predicted to turn into the biggest supply of recycled lithium-grade batteries on the Continent. We’re excited to broaden our world strategic partnering with Glencore and constructing on our learnings from the Rochester Hub to assist the quickly rising lithium-ion battery ecosystem in an environmentally pleasant approach.
“The growth of Li-Cycle in Europe is in keeping with our modular rollout technique, as we replicate our profitable North American mannequin, which mirrors buyer demand and business contracting with a strategically situated pre-processing Spoke community and centralized post-processing Hub.”
Kunal Sinha, International Head of Recycling, Glencore, commented:
“This mission, mixed with our current footprint in major provide in addition to recycling of battery metals, underlines our ambition to be the circularity associate of selection for the European battery and EV trade. It additionally marks in a major step in our collaboration with Li-Cycle, a most popular associate within the lithium-ion battery recycling area.
“Establishing a Hub via the re-purposing of our Portovesme web site, which would be the first Glencore asset to supply battery-grade lithium, will allow us to really shut the loop for our European OEM and gigafactory clients throughout all facet of the availability chain. It shortens supply occasions, reduces emissions by decreasing the gap of freight routes and helps the ambitions of Italy and Europe to turn into a worldwide chief in round financial system.”
The Portovesme Hub, as soon as operational, is predicted to offer important advantages to Li-Cycle and Glencore by facilitating a quick monitor to a European-based post-processing facility with minimal capital due of important infrastructure, tools, and skilled staff. on the positioning of Portovesme.
Click on right here to entry a brief video about Li-Cycle and Glencore’s joint plans for the Portovesme Hub. Li-Cycle expects to offer extra commentary on the Portovesme Hub throughout the 2023 first-quarter earnings convention name on Could 15, 2023.
About Li-Cycle Holdings Corp.
Li-Cycle (NYSE: LICY) is on a mission to leverage its modern Spoke & Hub Applied sciences™ to offer a customer-centric, end-of-life answer for lithium-ion batteries, whereas making a secondary provide of battery grade supplies. . Lithium-ion rechargeable batteries are more and more powering our world in automotive, vitality storage, client electronics, and different industrial and family functions. The world wants improved know-how and provide chain improvements to raised handle battery manufacturing waste and end-of-life batteries and to fulfill the quickly rising demand for essential and scarce battery grade uncooked supplies via a closed-loop answer. For extra info, go to https://li-cycle.com/.
About Glencore
Glencore is likely one of the largest world diversified pure useful resource corporations and a number one producer and marketer of greater than 60 commodities that enhance on a regular basis life. By means of a community of property, clients and suppliers spanning the world, we produce, course of, recycle, supply, promote and distribute commodities that assist decarbonization whereas assembly the wants of vitality now.
With practically 140,000 workers and contractors and a powerful footprint in additional than 35 international locations in each developed and creating areas for pure assets, advertising and industrial Glencore’s actions are supported by a worldwide community of greater than 40 places of work.
Glencore’s clients are industrial customers, comparable to these within the automotive, metal, energy era, battery manufacturing and oil sectors. Glencore additionally offers financing, logistics and different companies to producers and customers of commodities.
Glencore is proud to be a member of the Voluntary Ideas on Safety and Human Rights and the Worldwide Council on Mining and Metals. Glencore is an energetic participant within the Extractive Industries Transparency Initiative.
Glencore acknowledges its duty to contribute to the worldwide effort to fulfill the objectives of the Paris Settlement by decarbonizing its personal operational footprint. Glencore believes it should take a holistic strategy and considers its dedication via the lens of worldwide industrial emissions. Towards a baseline of 2019, Glencore is dedicated to decreasing its Scope 1, 2 and three industrial emissions by 15% by the tip of 2026, 50% by the tip of 2035 and has an ambition to attain the web zero industrial emissions by the tip of 2050 For extra particulars, see Glencore’s 2022 Local weather Report on the publications web page of its web site at glencore.com/publications.
