Recently, Sustainable Development Technology Canada (SDTC) invested close to $3 million into Li-Cycle to help start up their pilot plant. Li-Cycle is a clean technology that focuses on the problem of the lack of recycling of lithium-ion batteries and their plant will recycle all types of lithium-ion batteries. SDTC’s support of Li-Cycle is step towards accelerating and promoting the benefits of clean technology for Canada and eventually globally.
The SDTC is a foundation of the Government of Canada. They support Canadian corporations with the tools to become world leaders in their efforts to create and develop new environmental technologies and address issues like, climate change, clean air, water, and soil. SDTC is funding $58.6 million into 14 Canadian clean technology companies.
Li-Cycle is a clean technology company that aims to solve the problem of lithium-ion battery recycling and meet the growing demand for critical battery materials. It uses a low cost recycling solution, unique from existing methods. Their technology consumes a low amount of energy, produces no landfilled waste, and minimal to no GHG emissions.
It is capable of safely dismantling commercial li-ion batteries through an automated process without risk of explosion. Li- Cycle Technology is ‘future proofed’ because it processes all li-ion batteries to recover enduring intermediate products like, lithium, cobalt, and copper.
Their pilot plant is a feature of Li-Cycle’s Centre of Excellence for Advanced Resource Recovery, located in Kingston, Ontario. The Centre is the first in the world that focuses on closed-loop recycling and resource recovery of rechargeable lithium-ion batteries.
Through SDTC’s funding Li-Cycle will be able to further develop Li-Cycle technology through the pilot plan and launch the Li-Cycle Centre of Excellence as a platform for end-market material development. Raising awareness to Canadians to properly recycle lithium-ion batteries.
The investments support the advice of industry leaders from the Clean Technology Economic Strategy Tables which is the necessary growth of Canadian clean tech companies. Experts anticipate the clean technology market to grow to $2.5 trillion by 2022.
Li-Cycle was recently a part of Altitude Accelerator’s Incubator program.
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