Startup company Battery Resourcers raises US$20mn
What are Battery Resourcers’ plans for the funds?
Battery Resourcers reports that the financing will support the development of a commercial-scale processing facility that has a capacity to process 10,000 tons of batteries (or the batteries from approximately 20,000 electric vehicles) a year.
Who is Battery Resourcers?
Founded in 2015, Battery Resourcers offers a new approach to lithium-ion battery manufacturing. Its operations begin with a mixed stream of used lithium-ion batteries, ending with finished battery-ready cathode active materials.
"Battery Resourcers is on the verge of revolutionizing the lithium-ion battery supply chain. Being able to convert scrap and end-of-life battery materials into finished, cathode active material that can be directly used in making new batteries drives increased profitability and stability for the lithium-ion battery ecosystem. Our investment partners share our vision and passion for scaling this revolutionary process to support the battery material supply chain,” said , Battery Resourcers, CEO.
Recovering 97% of metal, Battery Resourcers reports that it can produce Nickel Manganese Cobalt (NMC)-based cathode active materials with a 35% cost reduction, a 32% emissions reduction, and a 13% energy consumption reduction when compared to the production of virgin cathode.
In addition to this, Battery Resourcers is working to engineer a new process for graphite recovery and purification which will return the cathode and anode active materials back to the manufacturers of new batteries. O’Kronley is also working with the electric vehicle (EV) industry to address complex environmental and regulatory issues.
“The recycling of critical battery components into cathode active material is a value leap in getting to sustainable and scalable production of lithium-ion batteries. By integrating refinement and materials engineering processes, we believe Battery Resourcers' approach can stabilize the cathode supply chain in North America while accelerating the shift to a clean, circular future – a goal we are very much invested in at Orbia as we seek to generate innovative solutions that advance life around the world,” added Sameer Bharadwaj, CEO of .
Ultium Cells LLC/Li-Cycle: Sustainable Battery Manufacturing
Ultium Cells LLC - a joint venture between General Motors and LG Energy Solutions - has announced its latest collaboration with Li-Cycle. Joining forces the two have set ambitions to expand recycling in North America, recycling up to 100% of the scrap materials in battery cell manufacturing
What is Ultium Cells LLC?
Announcing their partnership in December 2019, General Motors (GM) and LG Energy Solutions established Ultium Cells LLC with a mission to “ensure excellence of Battery Cell Manufacturing through implementation of best practices from each company to contribute [to the] expansion of a Zero Emission propulsion on a global scale.”
Who is Li-Cycle?
Founded in 2016, Li-Cycle leverages innovative solutions to address emerging and urgent challenges around the world.
As the use of Lithium-ion rechargeable batteries in automotive, industrial energy storage, and consumer electronic applications rises, Li-Cycle believes that “the world needs improved technology and supply chain innovations to better recycle these batteries, while also meeting the rapidly growing demand for critical and scarce battery-grade materials.”
Why are Ultium Cells LLC and Li-Cycle join forces?
By joining forces to expand the recycling of scrap materials in battery cell manufacturing in North America, the new recycling process will allow Ultium Cells LLC to recycle cobalt, nickel, lithium, graphite, copper, manganese and aluminum.
“95% of these materials can be used in the production of new batteries or for adjacent industries,” says GM, who explains that the new hydrometallurgical process emits 30% less greenhouse gases (GHGs) than traditional processes, minimising the environmental impact. Use of this process will begin later in the year (2021).
"Our combined efforts with Ultium Cells will be instrumental in redirecting battery manufacturing scrap from landfills and returning a substantial amount of valuable battery-grade materials back into the battery supply chain. This partnership is a critical step forward in advancing our proven lithium-ion resource recovery technology as a more sustainable alternative to mining, " said Ajay Kochhar, President, CEO and co-founder of Li-Cycle.
"GM's zero-waste initiative aims to divert more than 90% of its manufacturing waste from landfills and incineration globally by 2025. Now, we're going to work closely with Ultium Cells and Li-Cycle to help the industry get even better use out of the materials,” added Ken Morris, Vice President of Electric and Autonomous Vehicles, GM.
Since 2013, GM has recycled or reused 100% of the battery packs it has received from customers, with most current GM EVs repaired with refurbished packs.
"We strive to make more with less waste and energy expended. This is a crucial step in improving the sustainability of our components and manufacturing processes,” concluded Thomas Gallagher, Chief Operating Officer, Ultium Cells LLC.