LG Subsidiaries Sign Commercial Deals to Invest $50M in Li-Cycle
Lithium-ion battery recycler Li-Cycle completed commercial agreements to source nickel-bearing lithium-ion battery scrap and other materials scrap from LG Energy Solution plants in North America and to sell LG Chem up to 20,000 metric tons of nickel sulphate produced at…
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Li-Cycle’s Rochester, New York, “hub” now under construction, said the companies Thursday. With the agreements now signed, LG Energy Solution and LG Chem will proceed with plans to invest $50 million in Li-Cycle in two tranches, with the investment expected to be completed “in full” by May 13, they said.