Li-Cycle and Glencore announced a long-term battery supply agreement to better serve the EV battery supply chain.
a long-term battery supply agreement to better serve the EV battery supply chain. The agreement is a global feedstock supply agreement. Glencore will supply a wide variety of manufacturing scrap as well as end-of-life lithium-ion batteries to Li-Cycle. The two companies also entered into a non-binding Term Sheet for global and long-term strategic contracts.
Sinha also gave a statement and pointed out that Li-Cycle is Glencore’s preferred global partner in the battery recycling industry. Li-Cycle’s Chief Financial Officer, Debbie Simpson, shared details on how the $200 million investment will impact the company.
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