After an 18-month wait, battery recycling firm Li-Cycle has secured a long-anticipated loan from the US Department of Energy (DoE). In early November, the DoE finalised a USD475 million loan to the company, USD100 million more than initially requested by Li-Cycle. The loan will mature in 2040 after a 15-year term. This financing is crucial for the completion of Li-Cycle’s Rochester Hub, a project that will enhance US based refining capacity for battery materials.

The Rochester Plant

Li-Cycle’s Rochester plant is integral to its black mass refining operations. Upon completion, the plant is projected to process up to 35,000 tonnes of black mass annually, yielding an estimated 8,250 tonnes of battery-grade lithium carbonate and approximately 72,000 tonnes of mixed hydroxide precipitate (MHP) per year.

Construction began in June 2022, but progress stalled in October 2023 due to escalating costs. Initial projections placed the facility’s costs below USD600 million, but recent estimates have risen to around …

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