LG Subsidiaries Sign Commercial Deals to Invest $50M in Li-Cycle

Lithium-ion battery recycler Li-Cycle completed commercial agreements to source nickel-bearing lithium-ion battery scrap and other materials scrap from LG Energy Solution plants in North America and to sell LG Chem up to 20,000 metric tons of nickel sulphate produced at Li-Cycle’s Rochester, New York, “hub” now under construction, said the companies Thursday. With the agreements now signed, LG Energy Solution and LG Chem will proceed with plans to invest $50 million in Li-Cycle in two tranches, with the investment expected to be completed “in full” by May 13, they said.