Li-new Cycle’s Spoke facility will be co-located on the same site as Ultium Cells’ battery cell production mega-factory and will support Li-previously Cycle’s announced multi-year partnership to handle the mega-battery factory’s manufacturing scrap. The co-located Spoke will improve Li-Cycle’s ability to meet Ultium Cells’ recycling demands by converting battery manufacturing scrap to intermediate goods. Given its proximity to Ultium Cells’ mega-factory, the Company anticipates that its Ohio plant will significantly lower the costs involved with transferring and handling battery manufacturing scrap materials. In addition, the new Spoke facility will be customised for the specific types of battery manufacturing scrap generated by the Ultium Cells plant, increasing production efficiency. The co-location represents an innovative model for Li-Cycle’s continued execution of its global Spoke & Hub model.
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