Li-Cycle, located in Toronto, has received a conditional US$375 million loan from the US Department of Energy in support of its ambitions to establish a new factory in a Rochester, New York suburb.
The 26-hectare plant in Greece, NY, “will reprocess materials from a number of recycling facilities Li-Cycle is establishing in the U.S. and Canada. Li-Cycle has promised $485 million in investment in the project, which is slated to open late this year and has the potential to create enough lithium carbonate and other materials to provide around 203,000 electric vehicles per year.”
Li-Cycle, located in Toronto, has received a conditional US$375 million loan from the US Department of Energy in support of its ambitions to establish a new factory in a Rochester, New York suburb.
The 26-hectare plant in Greece, NY, “will reprocess materials from a number of recycling facilities Li-Cycle is establishing in the U.S. and Canada. Li-Cycle has promised $485 million in investment in the project, which is slated to open late this year and has the potential to create enough lithium carbonate and other materials to provide around 203,000 electric vehicles per year.”
After the announcement, Li-stock Cycle’s rose 4% on the New York Stock Exchange, and Senate Majority Leader Charles Schumer (D-NY) took advantage of the occasion for a home-state victory lap.
