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ROCHESTER, N.Y. (WROC) — Li-Cycle, a lithium-ion battery recycling company, announced that they have been awarded a $375 million loan for the company’s HUB facility in Rochester.
The loan comes from the U.S. Department of Energy through the Advanced Technology Vehicles Manufacturing program in order to create 270 jobs once the facility is completed and will create over 1,000 construction jobs.
The Rochester facility, according to Li-Cycle, is designed to be able to process a maximum of 35,000 tonnes of black mass per year. This is equivalent to around 90,000 tonnes of lithium-ion battery material.
“These projects are central to the Biden-Harris administration’s effort to on-shore and re-shore electric vehicle and critical mineral supply chains and to manufacture half of all new vehicles sold in 2030 as zero-emission vehicles,” said Jigar Shah, the director of the Department of Energy’s Loan Programs Office.
“With this investment, Li-Cycle is gonna become the largest supplier of lithium-carbonate in all of America right here in Rochester, New York,” Schumer said. “That means Rochester-made materials will power an entire, new generation of US-made electric vehicles.”
Senator Schumer said that his goal is to make Upstate New York the center of “hi-tech” throughout the United States.
“Too often, governments and companies are accused of short-term thinking,” Schumer said. “This company and the future of lithium batteries and electric cars are the long-term future.”
Congressman Joe Morelle said he is excited for the Department of Energy recognizing the potential for Rochester’s Li-Cycle facility.
“The loan wouldn’t happen without the innovation, without the science, without the vision people have to bring the most pressing problems we face as a society and as a world,” Morelle said. “I’m not sure there’s ever been a time where our economic security as a nation and our national security as a nation is more closely aligned and tied together.”
In a statement, Li-Cycle says the Rochester Hub — slated for a late 2023 date to start commissioning — is expected to be the first commercial hydrometallurgical battery resource recovery facility and the first source of recycled battery-grade lithium carbonate production in North America.
Senator Schumer spoke at the Li-Cycle Rochester hub back in September to talk about the environmental effects of the then-just passed Inflation Reduction Act.
The Inflation Reduction Act was enacted in early September. Apart from its green energy incentives for jobs and manufacturing, the legislation makes an $80 billion payment to the IRS to fight inflation.
As well as encouraging investment in domestic energy production and manufacturing, the act sets a goal of reducing carbon emissions by roughly 40% by 2030.
Li-Cycle, according to Schumer, is at the forefront of the senator’s effort to accelerate the state’s clean energy growth.
