Kunal Phalpher, Chief Commercial Officer, Business Development & Operations, Li-Cycle Corp.
This presentation will explore the need for localizing the critical battery materials supply chain in new regions, while addressing the economic and sustainability challenges of lithium-ion battery recycling and how Li-Cycle®’s Hub-and-Spoke model is able to help overcome some of these industry challenges, particularly in light of the recent pandemic. It is known that Li-ion batteries play an essential role in the global transition toward electrification of transport. According to BNEF’s recent study, worldwide electric vehicle sales will rise from 2 million in 2018 to 56 million by 2040, which accumulated 559 million electric vehicles will be on the road worldwide. However, much of the supply chain, from raw materials through production, is scattered throughout the world, requiring materials to cross many oceans before a battery is produced, predominantly in Asia. One way to deal with this problem is to have a viable option for creating a secondary source of these critical materials from the rapidly growing volumes of spent lithium-ion batteries, in conjunction with the projected growth in battery production in regions such as Europe and North America. The world needs improved technology and supply chain innovations to recycle these batteries locally, and more sustainability to meet the rapidly growing demand for critical and scarce battery-grade materials and close the loop in this market. Li-Cycle™ provides a solution for this gap through an innovative and sustainable resource recovery process that can bring a piece of the battery supply chain, critical material supply, to new regions of the world. Li-Cycle Corp. is a clean technology company aiming to address this challenge and support the industry to meet the rapidly growing demand for critical battery materials. Being one of few companies focused solely on recycling Li-ion batteries, Li-Cycle® has a unique insight into the challenges and opportunities of the industry, as well as the necessity for proper end-of-life logistics management. Li-Cycle Technology™ uses a combination of mechanical size reduction and hydrometallurgical resource recovery that is specifically designed for lithium-ion battery recycling. The process results in a recovery rate of 80-100%, which is unparalleled in industry, and end-products are high quality and battery-grade, promoting a circular economy.