Li-Cycle, Vines Energy Solutions, launches global battery recycling partnership

Li-Cycle Holdings Corp., Toronto, and Vietnam-based Vines Energy Solutions (VinES), a Vingroup company specializing in the research, development and manufacturing of advanced batteries for mobility and energy storage applications, have launched a global recycling partnership.  

Under the new partnership, the companies will explore global recycling solutions for VinES and VinFast, a global electric vehicle manufacturer also part of Vingroup. The new partnership will support VinES and VinFast in creating a closed-loop battery supply chain to enhance their environmental goals and contribute to the global electrified revolution with green mobility solutions. It will also establish mutually beneficial global connections with all parties and strengthen Li-Cycle’s broad relationships with battery and electric vehicle (EV) manufacturers.  

“We believe this partnership will be a significant step in our goal to be the leading and preferred global lithium-ion battery recycling partner and a launching pad to foster and deepen our commercial relationships with VinES and VinFast,” says Ajay Kochhar, co-founder and CEO of Li-Cycle. “We all share a vision to advance a sustainable, efficient and closed-loop battery supply chain.”  

In addition to a manufacturing complex in Vietnam, VinFast has announced plans to build a large EV manufacturing facility in North Carolina in March 2022. VinFast was granted an incentive package of $1.2 billion from North Carolina and expects to invest $2 billion to build the project’s first phase, which will have the capacity to produce 150,000 vehicles per year. VinES expects to expand its current battery manufacturing capabilities in Vietnam and is exploring expansion into international markets.  

Li-Cycle’s patented and sustainable lithium-ion battery recycling technologies, including its spoke and hub technologies, will help the scale and scope of VinES and VinFast’s current and planned manufacturing capabilities. The company’s spoke and hub network growth strategy continues to be underpinned and supported by accelerating commercial demand. The company currently has four operational spoke recycling facilities in North America with a total processing capacity of 30,000 metric tons annually or the equivalent of batteries from about 60,000 EVs.   

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Based on Li-Cycle’s current project pipeline, the company expects to have a total of 65,000 metric tons per year of lithium-ion battery material processing capacity in North America and Europe.  

Li-Cycle is also developing its first commercial hub facility in Rochester, New York, expected to commence commissioning in calendar 2023 and is designed to process battery materials equivalent to about 225,000 EVs. The Rochester Hub is expected to be the first commercial hydrometallurgical battery resource recovery facility and the first source of recycled battery-grade lithium carbonate production in North America.