VinES Energy Solutions (VinES), an industry leader in lithium-ion battery resource recovery, and Li-Cycle Holdings Corp. (Li-Cycle), the leading lithium-ion battery recycler in North America, recently announced the signing of a definitive agreement for a long-term battery recycling relationship.
The deal anticipates the possible development of a specialized Spoke facility near VinES’ manufacturing location, which is consistent with Li-Cycle’s aim of increasing recycling capacity in tandem with client demand. The investment decision for the dedicated Spoke facility is scheduled for 2025. Meanwhile, Li-Cycle will ease the processing of VinES’ material through its North American Spoke network. VinES and Li-Cycle will continue to explore worldwide recycling options for VinFast, the first global electric vehicle (EV) manufacturer in Vietnam and Southeast Asia, as part of a relationship first announced in October 2022.
VinES, part of Vingroup, is a company that specializes in the research, development, and manufacturing of advanced batteries for mobility and energy storage applications. The company has completed the construction of a lithium-ion battery cell manufacturing plant in Hai Phong, Vietnam, and plans to expand its production capacity in the country.
In December 2022, Li-Cycle opened an office in Singapore to assist its connectivity to the Asia market and efforts to continue growing and expanding commercial partnerships with Asian manufacturers.