Posted on 26 Sep 2022
General Motors says it is making a strategic investment in Quebec-based Lithion Recycling Inc to pursue a circular battery ecosytem using Lithion’s advanced EV battery recycling technology, Kallanish reports.
The investment will be made by GM Ventures, the US automaker’s investment arm. It is investing in Lithion’s Series A financing round.
The collaboration between the two companies will include validation of Lithion's recovered battery materials for use in the production of new batteries and potential to acquire battery materials and joint investment in research and development for both recycling processes and recyclability of future battery design
"Working with GM marks a key step in Lithion's commercial development and pioneers a needed breakthrough in the electrification of transportation by enabling a cost-effective and sustainable circularity in the EV battery industry," said Benoit Couture, president and CEO of Lithion. "This partnership underscores our commitment to enable the transition to a low-carbon economy amidst the fight against climate change."
"In Lithion's technology, we see the opportunity to recover and reuse raw material in our Ultium battery packs, making the EVs we produce even more sustainable and helping drive down costs,” says Jeff Morrison, GM vice president, Global Purchasing and Supply Chain.
In August, Ultium Cells, GM's joint venture with LG Energy Solution, opened its first US battery cell plant, with two additional plants under construction. A fourth planned battery cell plant will bring GM's projected total US battery capacity to 160 GWh.
In 2023, Lithion will launch its first commercial recycling operations. The opening of this facility, with a capacity of 7,500 tonnes/year of lithium-ion batteries, will be followed in 2025 by the launch of Lithion's first hydrometallurgical plant. It is aiming to have 25 plants operating by 2035.
Source:Kallanish
