Battery recycling technology company Lithion has received $22.5 million in funding from the Quebec government. It will use the funding to develop its facilities in Quebec.
Some will be invested in a battery dismantling and reprocessing plant the company expects to open in 2023, and some will finance engineering studies for the construction of a hydrometallurgical plant that’s scheduled to open in 2025. The company also plans to invest some of the funding in a Technology Development Center that will continue to develop Lithion’s technology for future battery chemistries and materials.
“Technological advances and process optimization effected in our demonstration plant over the past two years increased the attractiveness to global players in the transportation electrification ecosystem who want to license the Lithion solution to address the needs of their local markets,” said Lithion CEO Benoit Couture. “We are entering an exciting phase of our business development here, in Asia, and soon, in the US and Europe.”