Li-Cycle, the Toronto-based recycling specialist has secured investments from top EV battery makers and industry leaders, such as GM and LG Energy Solution, to help it expand its proprietary recycling technology. Their technology enables them to recycle the batteries while keeping them intact. Li-Cycle is currently building a spoke plant in Alabama and a hub facility in New York to recycle up to 65,000 EV batteries annually by 2023.
With operations ongoing at its Gilbert, Arizona spoke facility, Li-Cycle is committed to recycling end-of-life EV batteries to help the auto industry sustainably transition to electrification. Li-Cycle has plans to construct up to 20 more spoke plants and four hub facilities worldwide by 2025. It trades on the NYSE under the ticker symbol LICY.