Battery recycling know-how firm Lithion has acquired $22.5 million in funding from the Quebec authorities. It’s going to use the funding to develop its services in Quebec.
Some will probably be invested in a battery dismantling and reprocessing plant the corporate expects to open in 2023, and a few will finance engineering research for the development of a hydrometallurgical plant that’s scheduled to open in 2025. The corporate additionally plans to take a position a number of the funding in a Know-how Growth Middle that may proceed to develop Lithion’s know-how for future battery chemistries and supplies.
“Technological advances and course of optimization effected in our demonstration plant over the previous two years elevated the attractiveness to world gamers within the transportation electrification ecosystem who wish to license the Lithion answer to handle the wants of their native markets,” stated Lithion CEO Benoit Couture. “We’re coming into an thrilling part of our enterprise growth right here, in Asia, and shortly, within the US and Europe.”