Glencore sets up JV to enter EV battery recycling

Anglo-Swiss commodities trader Glencore Plc (LON:GLEN) has joined hands with UK battery storage firm Britishvolt to create a joint venture for the recycling of batteries for electric vehicles.

As part of the cooperation, a new recycling plant will be built at Gencore's Britannia Refined Metals operation with an expected processing capacity of a minimum of 10,000 tonnes of lithium-ion batteries per year, the two companies said on Thursday.

The facility is expected to start operating by mid-2023 and process all Britishvolt’s battery manufacturing scrap from their Gigafactory in the town of Blyth, UK. The plant will be powered by green electricity in the long term.

The partners will also study ways to make the recycling of EV batteries easier and more cost-effective, maximising their supply chain value. They will aim also to influence legislation, including tighter regulation of recycling.

With the project, the two seek to support the creation of a circular economy that returns recycled materials and minerals back into the battery supply chain.

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