What’s Happening
Li-Cycle Holdings Corp., a leading lithium-ion battery recycler, and Glencore International AG, a top producer and marketer of nickel and cobalt for lithium-ion batteries, have signed a Letter of Intent to explore the feasibility of a battery materials recycling hub in Portovesme, Italy. The proposed Portovesme Hub will process critical battery materials, such as nickel, cobalt, and lithium, from recycled battery content.
Why It Matters
The Portovesme Hub aims to become Europe’s largest producer of sustainable battery-grade products, leveraging Li-Cycle’s state-of-the-art hydrometallurgical technology. The hub is expected to contribute to Europe’s ambitions to be a global leader in the circular economy and support the rapid growth of the lithium-ion battery ecosystem in an environmentally friendly manner.
Key Points
- The Portovesme metallurgical complex in Sardinia, Italy, provides access to a port, utilities, processing equipment, and an experienced workforce.
- Li-Cycle and Glencore will launch a definitive feasibility study within 60 days, with completion expected by mid-2024.
- A 50/50 joint venture is anticipated between the two companies to repurpose part of the existing Glencore metallurgical complex.
- Subject to a final investment decision, the Portovesme Hub’s construction is expected to start, with commissioning scheduled for late 2026 to early 2027.
- Once operational, the hub will have the capacity to process up to 50,000 to 70,000 tonnes of black mass annually, equivalent to up to 36 GWh of lithium-ion batteries.
Bottom Line
The Portovesme Hub will provide significant benefits to both Li-Cycle and Glencore, offering a cost-efficient and expedited development plan. The hub is expected to be the first facility of its kind and scale in Europe, and together with Li-Cycle’s Spoke network and Glencore’s battery circularity platform, will enable Europe to close the loop on manufacturing scrap and end-of-life batteries using hydrometallurgical processes. This partnership marks a significant step towards the European battery and EV industry’s circular economy goals.
