June 10, 2021: Canadian lithium battery recycler Li-Cycle on June 8 said it had formed a partnership with the battery management company Renewance, which is based in Illinois, US.
The two firms have been working together since the start of 2020, and based on that experience have decided to formalize the arrangement.
Li-Cycle offers a ‘hub and spoke’ system for recycling batteries — in which it uses decentralized facilities so that batteries can be mechanically processed close to sources of supply and large-scale production is centralized to capitalize on economies of scale.
Renewance designs software and offers project management services to handle batteries throughout their life cycle and at end of life.
Since February 2021, when it announced it would be going public, Li-Cycle has been active: in April it said it would build a third facility in North America, and in May it signed an agreement with a General Motors joint venture to recycle scrap materials from battery cells.
“The US energy storage market is set to grow to nearly 26.5GWh annually by 2025 and will account for 50% of the global market this year, according to the US Energy Storage Monitor and IHS Markit,” the firm says.
“Lithium-ion batteries are the primary technology used to store energy and as systems go offline or are upgraded, it is imperative to sustainably return the end-of-life batteries back into the supply chain.
“By combining their respective strengths in lithium-ion battery recycling and battery life cycle management software and services, Li-Cycle and Renewance expect to play an important role in helping developers and utilities decommission energy storage systems safely, recovering the valuable minerals from within the end-of-life batteries, and returning those materials to the economy.”