# Li-Cycle and Glencore unveil plans for recycling hub in Italy
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2023-05-09
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Li-Cycle and Glencore's Recycling Hub Plans in Italy
Meta Description: Analyse the latest news on Li-Cycle and Glencore's joint recycling hub in Italy, producing battery materials and supporting the transition to net zero.
URL: https://financedigest.com/li-cycle-and-glencore-unveil-plans-for-recycling-hub-in-italyhtml

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# Li-Cycle and Glencore unveil plans for recycling hub in Italy

(Reuters) – Battery recycler Li-Cycle Holdings Corp said on Tuesday it planned to develop a recycling hub in Italy along with Swiss miner and commodity trader Glencore Plc to produce battery materials including lithium.

Canada-based Li-Cycle had earlier announced in March that it would be building a French battery processing facility amid rising demand for lithium due to its key role in transition towards net zero.

The two companies are expected to complete a joint feasibility study for the project by mid-2024, Li-Cycle said.

Once the [companies make a final investment](https://www.financedigest.com/wait-and-see-u-s-companies-curb-investment-as-they-await-fed-moves.html "Wait and see: U.S. companies curb investment as they await Fed moves") decision on the project, commissioning of the hub in Portovesme, Italy, is expected to commence in late 2026 to early 2027.

The Portovesme Hub is [expected to have processing](https://www.financedigest.com/downstream-processing-market-is-expected-to-cross-us-25-4-bn-by-the-end-of-2030-at-a-cagr-of-13.html "Downstream Processing Market is Expected to Cross Us$ 25.4 Bn by the End of 2030 at a CAGR of ~13%") capacity of up to 50,000 tonnes to 70,000 tonnes of black mass annually, or the equivalent of up to 36 gigawatt hours of lithium-ion batteries, Li-Cycle added.

Glencore had announced an [investment of $200 million](https://www.financedigest.com/heineken-to-invest-300-million-in-brazil-to-expand-premium-beer-portfolio.html "Heineken to invest 0 million in Brazil to expand premium beer portfolio") into Li-Cycle last year.

(Reporting by Sourasis Bose in Bengaluru; Editing by Rashmi Aich)


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