On Tuesday, Li-Cycle Holdings Corp., a recycling firm, announced intentions to create a recycling facility in Italy with Swiss miner and commodities trader Glencore Plc for the manufacturing of battery components, including lithium.
As demand for lithium grows due to its critical role in the transition to net zero energy, the Canadian business Li-Cycle announced in March that it would build a battery manufacturing unit in France.
According to Li-Cycle, the two companies should have completed their joint feasibility evaluation by mid-2024.
After the corporations make their final investment decision on the project, commissioning of the hub in Portovesme, Italy, is expected to commence in late 2026 or early 2027.
According to the company, the Portovesme Hub’s annual processing capacity will be between 50,000 and 70,000 tons of black matter, or up to 36 gigatonnes of lithium-ion batteries.
Glencore invested $200 million in Li-Cycle last year.
