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Li-Cycle awarded $375 million DOE loan, will add 270 jobs at Rochester site
Li-Cycle awarded $375 million DOE loan, will add 270 jobs at Rochester site
Li-Cycle has been awarded a $375 million U.S. Department of Energy loan through the Advanced Technology Vehicles Manufacturing (ATVM) program to create 270 jobs at its Rochester HUB facility.
The federal loan – which is funded through the Inflation Reduction Act – will help the lithium-ion battery recycler become the first-of-its-kind lithium-ion battery resource recovery facility. The facility is currently being constructed on a 41-acre parcel of land formerly known as Eastman Business Park South in Greece.
In addition to the new jobs at the site, the project will also create more than 1,000 new construction jobs.
U.S. Senate Majority Leader Charles Schumer – who attended Monday’s announcement – said Li-Cycle will play an essential role in creating a critical domestic supply chain for a resource the U.S. too often depends on getting overseas, and will help further cement Upstate New York as an emerging hub for the revival of battery production in the U.S.
“This DOE investment in Li-Cycle will reduce our reliance on China and strengthen America’s battery supply chain,” Schumer said. “And once the facility is at full steam, it is projected to be the biggest source of lithium carbonate in the United States. That means the heart of hundreds of thousands of electric vehicles, which will soon dominate our roads, will be made with battery components from right here in Rochester.”
Ajay Kochhar, Li-Cycle co-founder, president and CEO, noted that the Rochester site will be an important contributor to the clean energy economy.
“As a sustainable pure-play battery material recycling company, we expect the Rochester Hub will position Li-Cycle as a leading domestic producer of recycled battery-grade materials for accelerating electrification demand to address climate change and secure energy independence,” he said.
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