Jakarta (ANTARA) –
“LG Chem and battery maker LG Energy Solution have each invested 30 billion won to acquire a 2.6% stake in Toronto-based Li-Cycle in a recent rights offering,” the sources said. two companies in a statement cited by Yonhap on Thursday.
In this regard, they have also signed a supply agreement with Li-Cycle to secure 20,000 tons of nickel for the South Korean company over the next 10 years from 2023. This is enough to produce batteries that will be used by 300,000 electric vehicles.
For your information, Li-Cycle, founded in 2016, specializes in the recovery of the main lithium-ion battery materials, such as nickel and cobalt, from used batteries.
The company also has the technology to extract materials from used batteries in an environmentally friendly way that minimizes the release of harmful battery materials, according to LG.
journalist: President Rohman
Publisher: Alviansyah Pasaribu
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