General Motor’s (GM) investment arm, GM Ventures, has made a large investment in Lithion’s Series A financing round, helping a new GM-Lithion strategic collaboration deal to develop a circular battery ecosystem using Lithion’s cutting-edge battery recycling technology.
This collaboration between GM and Lithion entails the following:-
- The recovered battery materials from Lithion will be certified for use in the production of new batteries.
- Both recycling techniques and the recyclability of future battery designs will necessitate significant R&D expenditure.
Lithion employs green energy from Quebec, with a 95% recovery rate. According to a third-party lifecycle analysis, this results in greenhouse gas savings of more than 75% and water use reductions of more than 90%.
Based on data from its successful industrial-scale demonstration facility, which began operations in January 2020, Lithion will commence commercial recycling operations in 2023.
This facility, which has a capacity of 7500 metric tonnes of lithium-ion batteries per year, will be followed in 2025 by the inauguration of Lithion’s first hydrometallurgical plant.
In order to accelerate worldwide battery end-of-life management, Lithion is working on many initiatives in the United States, Europe, and Korea.
GM is quickly ramping up battery cell and electric vehicle manufacturing in North America to meet a target of more than 1 million units of annual capacity by 2025, with ambitions to eliminate tailpipe emissions from all new light-duty vehicles by 2035.
GM sees an opportunity in Lithion’s technology to recover and reuse raw material from its Ultium battery packs, making the EVs they make even more sustainable and at the same time bringing down prices.
This is a PR Newswire Feed; researched and edited by Clean-Future Team
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