LI-CYCLE

PROJECT SUMMARY 

In November 2024, the Department of Energy announced the closing of a $475 million loan (including $445 million of principal and $30 million of capitalized interest) to Li-Cycle U.S. Inc. (Li-Cycle) to help finance the construction of the first-of-its-kind lithium-ion battery resource recovery facility in North America. The loan will help Li-Cycle, already North America’s largest sustainable, pure-play lithium-ion battery recycler, further expand its operations.    

TECHNOLOGY INNOVATION 

The project has secured several supply agreements for recycled lithium-ion battery feedstock across the United States as the domestic battery supply chain grows. As part of Li-Cycle's proprietary Spoke & Hub Technologies™ model, source materials will be aggregated and processed into black mass (recycled lithium-ion battery feedstock) at three current operational sites throughout North America—including from Rochester; Gilbert, Arizona; and Tuscaloosa, Alabama—and shipped to the Rochester Hub facility for additional processing.   

ECONOMIC IMPACT 

At peak construction, the project is anticipated to create approximately 825 construction jobs. Once fully operational, more than 200 permanent operations jobs are expected to be created. Li-Cycle has committed to hiring local labor from surrounding New York counties for all construction jobs. This, in addition to engagement with local contractors, labor groups, and the local industrial development agency, is expected to drive local labor participation throughout construction of the project.   

This project supports local construction jobs through an agreement with the County of Monroe Industrial Development Agency (“COMIDA”), which stipulates that 100 percent of its construction workers live in the ten surrounding counties surrounding Rochester. Li-Cycle will provide competitive wages and benefits, benchmarked to the industry averages for the region.