Recyclage Lithion will begin next week a new stage in the construction of the first commercial recycling plant for lithium-ion batteries, used in electric cars, in Quebec.
“Monday morning, we start the procurement to buy the equipment to build the first plant, here, in the greater Montreal area to serve the recycling needs of Quebec and all of northeastern North America. “, announced the president and CEO of the company, Benoit Couture, at a press conference in Montreal on Friday.
The plant, which should be operational in 2023, will process nearly 7,500 metric tons of batteries annually, the equivalent of approximately 25,000 electric or hybrid vehicle batteries. The company will invest more than $80 million in the project.
The installation will transform the batteries into black powder which contains all of the battery’s strategic materials.
Photo: Adil Boukind Le Devoir
The installation will transform the batteries into black powder which contains all of the battery’s strategic materials.
15 million from the government
Last January, the company announced the financial support of investors, including the labor fund Fondaction and the South Korean investment company IMM Investment Global. However, the Quebec government’s participation had not yet been determined.
Quebec unveiled on Friday the content of its aid for this first plant. Investissement Québec will contribute $15 million to the share capital of Recyclage Lithion. Quebec will also grant grants totaling $7.5 million as part of the Plan for a Green Economy 2030.
To see in video