Li-Cycle Holdings Corp. (NYSE: LICY) (“Li-Cycle” or the “Company”), an industry leader in lithium-ion battery resource recovery and the leading lithium-ion battery recycler in North America, has signed a definitive agreement (“agreement”) for a global lithium-ion battery recycling partnership with the KION Group (“KION”), a leading global provider of industrial trucks and supply chain solutions.
The Company announce plans to develop a new lithium-ion battery recycling facility in France, underpinned by regional commercial demand, including KION’s lithium-ion battery recycling needs.
Under the partnership, Li-Cycle will recycle lithium-ion batteries from KION’s global brands using its proprietary and innovative submerged shredding technology that is safe, environmentally friendly, and cost-effective. The agreement, which is for an initial period until 2030, has designated Li-Cycle as KION’s preferred global recycling partner to ensure that KION batteries are recycled sustainably.
Tim Johnston, co-founder and Executive Chair of Li-Cycle, said:
Li-Cycle is excited to be designated as KION’s preferred global recycling partner, as we continue to grow and diversify our customer portfolio to advance our expansion plans in Europe and help drive a sustainable and localized battery ecosystem.
“Through our partnership, Li-Cycle expects to support both KION’s recycling needs and KION’s ability to align with the EU’s battery regulations. Together, we will build a circular battery supply chain and further support the clean energy transition.”
Henry Puhl, chief technology officer of KION, said:
With this strategic partnership, we are taking an important step towards the circular economy that we want to implement for our products.
“The collaboration with Li-Cycle will further strengthen our position in the area of sustainability.”
Andreas Krinninger, member of the Executive Board of KION, said:
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.
“This makes us one of the pioneers in the material handling industry in the field of recovery and recycling of lithium-ion batteries.”
KION currently has a global fleet of more than 1.7 million industrial trucks, which includes forklift and warehouse trucks, and is the largest industrial truck manufacturer in the EMEA region.
Li-Cycle’s Spoke in France will be constructed in an existing building site with access to renewable energy. The plant is expected to have initial processing capacity of up to 10,000 tonnes of lithium-ion battery material per year, with optionality to expand to up to 25,000 tonnes per year.
The France Spoke is expected to leverage Li-Cycle’s ‘Generation 3’ Spoke technology, which has the capability to directly process full electric vehicle (EV) and energy storage battery packs without any manual dismantling to enhance safety and cost-effectiveness.
The France Spoke is expected to become operational in 2024 and is expected to bring Li-Cycle’s future planned capacity across its global Spoke network to more than 100,000 tonnes of lithium-ion battery material per year.
Li-Cycle’s first European Spoke will be located in Germany and will leverage the Company’s ‘Generation 3’ Spoke technology. The Germany Spoke is expected to be the Company’s largest Spoke facility to-date, with processing capacity for 30,000 tonnes of lithium-ion battery material per year, including main line and ancillary processing capacity.
Li-Cycle is also developing a ‘Generation 3’ Spoke in Norway, which is expected to have processing capacity of up to 10,000 tonnes of lithium-ion battery material per year.
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