On Monday, Li-Cycle Holdings Corp (LICY.N) announced it would develop a French plant to break down batteries from forklift maker The Kion Group (KGX.DE).
Li-Cycle will recycle lithium-ion batteries from Kion’s forklifts and other heavy gear at the French factory, which is planned to open in 2024.
Li-Cycle has a $40 million budget to create battery processing facilities worldwide, but it did not specify how much it spends on the French business.
As our clients localize their supply chains, we believe firmly in a regional strategy to recycling,” Li-executive Cycle’s chairman Tim Johnston told Reuters. “Europe is a growing hub for electrification. Therefore we will grow there.”
Li-Cycle believes most of Kion’s 1.7 million forklifts use lithium-ion batteries. However, such batteries may degrade more quickly than consumer car batteries due to heavy use.
Li-European Cycle’s strategy is partially based on its North American hub-and-spoke network. In addition, the business has erected collecting and processing facilities throughout the continent to transform batteries into black mass or shredded battery components.
Rochester, New York, is building a central facility to break down the dark mass into lithium, nickel, and other metals. Johnston said Li-Cycle would manufacture black mass in France and other European facilities and bring it to Rochester for processing.
European Commission President Ursula von der Leyen visited Li-Ontario Cycle’s battery manufacturing facility a month before the French declaration.
