# Li-Cycle to build French battery processing facility
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2023-03-27
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Li-Cycle to Expand Recycling Operations in Europe with
Meta Description: Li-Cycle Holdings Corp expands with new French plant for breaking down lithium-ion batteries from forklift manufacturer Kion Group. Growing regional strategy to
URL: https://financedigest.com/li-cycle-to-build-french-battery-processing-facilityhtml

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By Ernest Scheyder

(Reuters) – Li-Cycle Holdings Corp said on Monday it will build a French facility to break down batteries from forklift manufacturer The Kion Group, marking the latest expansion by the rapidly growing recycling company.

The French facility, which is expected to open in 2024 and complement similar sites under development in Germany and Norway, will break down lithium-ion batteries that power Kion’s forklifts and other heavy machinery, giving Li-Cycle a fresh source of batteries to recycle beyond the consumer automobile market.

Li-Cycle declined to disclose how much it is spending on the French operation, though the company has a $40 million budget for the [year to build such battery](https://www.financedigest.com/home-battery-sales-in-germany-may-surge-59-this-year-study.html "Home battery sales in Germany may surge 59% this year -study") processing facilities across the globe.

We believe strongly in a regional approach to recycling as our customers begin to localize their own [supply chains,”](https://www.financedigest.com/how-to-bring-immediacy-back-to-the-supply-chain-with-faster-payments.html "How to Bring Immediacy Back to the Supply Chain With Faster Payments") Tim Johnston, Li-Cycle’s executive chairman, told Reuters. Europe [continues to be a growth](https://www.financedigest.com/swedish-match-continues-to-see-strong-smoke-free-sales-growth.html "Swedish Match continues to see strong smoke-free sales growth") center for electrification, so we are going to continue to grow there.

Li-Cycle [estimates that a majority of Kion’s 1.7 million](https://www.financedigest.com/spotifys-monthly-active-users-top-500-million-beat-estimate.html "Spotify’s monthly active users top 500 million, beat estimate") forklifts are powered by lithium-ion batteries. Given their heavy use, those batteries are likely to wear down faster than those [powering consumer](https://www.financedigest.com/gumgum-powers-into-europe-as-new-research-shows-consumers-reject-behavioural-ads.html "GumGum Powers into Europe as New Research Shows Consumers Reject Behavioural Ads") automobiles.

Li-Cycle’s European plan is based in part on its North American hub-and-spoke network, in which the [company has built collection and processing](https://www.financedigest.com/companies-that-dont-upgrade-their-financial-processes-this-year-will-get-left-behind.html "Companies that don’t upgrade their financial processes this year will get left behind") facilities across the continent to turn batteries into black mass, which is essentially shredded battery parts.

A central facility under construction in Rochester, New York, will further break down that black mass into lithium, nickel and other metals. Li-Cycle [plans for now to produce black](https://www.financedigest.com/back-to-black-germanys-coal-power-plan-hits-hurdles.html "Back to black? Germany’s coal power plan hits hurdles") mass at its French and other European sites, and then ship that material to Rochester for processing, Johnston said.

The French announcement comes less than a [month after European](https://www.financedigest.com/european-shares-hit-nine-month-high-dollar-wobbles-after-powell-remarks.html "European shares hit nine month high, dollar wobbles after Powell remarks") Commission President Ursula von der Leyen visited Li-Cycle’s battery processing facility in Ontario.

(Reporting by Ernest Scheyder; Editing by Bill Berkrot)


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