Li-Cycle, a Canadian recycling company, and Vines Energy Solutions (VinES), a battery company of Vingroup, announced the global recycling partnership launch.
The companies are exploring global recycling solutions for VinES and VinFast, a global EVmanufacturer, also part of Vingroup, as per the Electric Cars Report.
Li-Cycle and VinES partnership
The new partnership is anticipated to support VinES and VinFast in their closed-loop battery supply chain creation to boost their environmental goals and help the global electrified revolution with green mobility solutions.
Furthermore, it will build mutually beneficial global connections with all parties. It will also strengthen Li-Cycle’s broad and diverse relationships with leading battery and EV manufacturers.
“We are thrilled to partner with Li-Cycle for recycling solutions for VinES and VinFast. We always aim to bring sustainable solutions and minimize the impacts of our business and operations on the environment for a greener future. The partnership with Li-Cycle is one important part of our ESG strategy to achieve sustainable and closed-loop battery production,” said Ms Pham Thuy Linh, CEO of VinES.
“We are excited to partner with VinES, a company that is focused on advanced battery and energy solutions,” said co-founder and CEO of Li-Cycle Ajay Kochhar.
“We believe this partnership will be a significant step in our goal to be the leading and preferred global lithium-ion battery recycling partner and a launching pad to foster and deepen our commercial relationships with VinES and VinFast. We all share a vision to advance a sustainable, efficient and closed-loop battery supply chain.”
In addition to a manufacturing complex in Vietnam, VinFast announced plans to build an EV manufacturing facility in North Carolina in March 2022.
The Vietnamese automaker was granted a $1.2 billion incentive package from the State of North Carolina and expected to invest $2 billion to construct the project’s first phase, designed to have a 150,000 vehicle capacity annually.
VinES expects to continue to expand its battery manufacturing capabilities in Vietnam. It is also exploring international market expansion.
Li-Cycle’s Spoke & Hub network
Li-Cycle’s patented and sustainable Li-on battery recycling technologies, which include its Spoke & Hub Technologies™, are an excellent fit in scale and scope for VinES and VinFast’s manufacturing capabilities.
Li-Cycle’s Spoke & Hub network growth strategy is continuously supported by accelerating commercial demand. Currently, the company has four operational Spoke recycling facilities in North America with a total of 30,000 tons processing capacity yearly or the equivalent of batteries from about 60,000 EVs.
The company anticipates having a total of 65,000 tons of Li-on battery material processing capacity in North America and Europe annually as Li-Cycle continues to scale its Spoke & Hub network to back the recycling needs of a growing consumer base, based on Li-Cycle’s current project pipeline.
Commercial Hub facility in New York
Moreover, Li-Cycle is also establishing its first commercial Hub facility in Rochester, New York. It is expected to start commissioning in calendar 2023 and is designed to process battery materials equivalent to over 225,000 electric vehicles.
The Rochester Hub is anticipated to be the first commercial hydrometallurgical battery resource recovery facility and the first source in North America for recycled battery-grade lithium carbonate production.
