SPAC merging with Li-Cycle, the largest lithium-ion recycler in North America.

Li-Cycle is well-positioned at the intersection of three huge trends: the electric vehicle revolution, the supply shortage of strategic battery materials such as lithium and nickel, and the need for a green and sustainable battery recycling solution. According to the company, approximately 460,000 tons of lithium-ion batteries were disposed of in 2020 alone, with that number expected to continue growing. We have started a position.

Already has over 40 commercial agreement with blue chips through 2030. and expects to increase capacity tenfold by 2025.

Using their patented processes, Li-Cycle is able to break down lithium-ion batteries of all formats, chemistries, and states of charge into two raw products: battery mass (made mostly of lithium, nickel, and cobalt), and mixed copper/aluminum. Then the two products are refined using a hydrometallurgical circuit to produce individual metal sulfate and carbonate products with the purity levels required to be used in cathode and precursor production. By re-inserting expensive and hard to obtain products back into the lithium-ion battery supply chain, Li-Cycle effectively closes the loop between the end-of-life of a battery and manufacturing phases in both an environmentally and economically sustainable manner.

[CREDIT TO: PSYCHOTRADER https://psychotrader.com/)