The effort to satisfy a vast demand for lithium for electric vehicle batteries moved one step forward with a US$375 million loan from the U.S. Department of Energy to Li-Cycle, a battery recycling company, to build a lithium-ion battery recovery plant near Rochester, New York.
Technical grade lithium carbonate comes off a conveyor belt during a tour of the Silver Peak lithium mine near Tonopah, Nev., on Monday, Jan. 30, 2017.
Earlier this month, the DOE Loan Programs Office also announced a conditional US$2 billion loan to Redwood Materials to build a battery recycling facility outside Reno, Nevada. It will also make new EV battery cells out of recovered copper foil and other electrochemical materials. Recycling lithium is seen as far less environmentally damaging than mining it from the ground, and potentially less expensive.
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