Thought Leadership
Near Magdeburg, the Canadian company Li-Cycle is developing one of the largest recycling plants for batteries in Europe. It involves critical raw materials for the EU.
The Canadian battery recycler Li-Cycle, which is developing one of the largest recycling plants in Europe near Magdeburg, has been taken over by the Swiss company Glencore. The takeover took place on Friday, as Glencore announced on its website. The Swiss company describes itself as one of the largest raw materials companies in the world. As one of 47 EU projects on critical raw materials, the company is developing a value chain for battery recycling in Italy.
Li-Cycle filed for creditor protection in May
Li-Cycle opened its recycling plant near Magdeburg in September 2023. The plant marked the company’s entry into the European market. The company plans to recycle around 30,000 tons per year as a possible total capacity. Car batteries in particular are processed into a so-called “black mass” at the plant. Valuable raw materials such as lithium, nickel and cobalt are extracted from this using special processes.
In May of this year, the company filed for bankruptcy protection in Canada and the USA.
dpa
