LG Uses Recycled Nickel in Batteries

Process view of North America's largest battery recycling company, Li-Cycle

[Asia Economy Reporter Choi Dae-yeol] LG Chem and LG Energy Solution announced on the 15th that they have invested 60 billion KRW in Li-Cycle, the largest battery recycling company in North America. Li-Cycle specializes in extracting key raw materials for batteries by recycling used batteries, and they secured a 2.6% stake by participating in a recent paid-in capital increase.

Along with the equity investment, they signed a long-term contract to supply 20,000 tons of nickel over 10 years starting from 2023. This amount is sufficient to supply 300,000 mid-sized electric vehicles using approximately 80 kWh battery capacity. The nickel to be supplied in the future will be recycled raw materials extracted from scrap and used batteries generated during the battery production process.

The company uses a wet process that does not generate dust during extraction and recycles 100% of wastewater, minimizing harmful substances, earning a reputation for being environmentally friendly. As environmental regulations are applied throughout the production process in the US, EU, and other regions, the company expects to respond proactively.

LG Energy Solution plans to establish a resource circulation system at all its global business sites by 2025 and is promoting various recycling and reuse projects. Previously, Ultium Cells, a joint venture between LG and US automaker General Motors (GM), signed an agreement with Li-Cycle to recycle used batteries generated during the battery manufacturing process and started the recycling process this year.

This content was produced with the assistance of AI translation services.