Onward with Li-Cycle’s Rochester Hub, Glencore tells COMIDA

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The new owner of what was Li-Cycle Holdings said it is committed to resumption of construction the Rochester Hub and launching operations that will provide integral services in the recycling of critical metals.

GBR HubCo LLC, an affiliate of global mining and commodity trading conglomerate Glencore, earlier this month finalized the purchase of Li-Cycle out of bankruptcy.

Company officials on Tuesday told the County of Monroe Industrial Development Agency (COMIDA) that Glencore plans to complete the Li-Cycle vision at Eastman Business Park in Greece for a recycling facility that recovers minerals such as lithium, nickel and cobalt.

The COMIDA board unanimously approved Glencore’s assumption of the lease agreement and tax abatements through a PILOT (payment in lieu of taxes), clearing the way for GBR HubCo to proceed.

“This isn’t just a procedural step, it’s the beginning of a new chapter for us,” Chris Biederman, former Li-Cycle chief technology officer and now chief engineer for Glencore battery recycling, told the board.

While electric vehicles have been considered the primary focus of Li-Cycle’s recycling vision, the proprietary processes extend to many sectors.

“These are critical metals,” said Ajay Kochhar, the former Li-Cycle CEO who now heads battery recycling for Glencore. “EVs are a big driver for us, but anything defense-oriented, anything with the supply-chain, is also very critical.”

Li-Cycle was approved for the PILOT, as well as a $375 million Department of Energy loan, for construction of what initially was expected to be a $500 million facility that employed more than 250 workers.

But Li-Cycle shut down construction in October of 2023 when costs escalated beyond its ability to pay. The most recent construction estimate put the price tag near $1 billion for the plant to be operational.

Glencore has acquired all operating assets of Li-Cycle and said it views the Rochester project an important piece of the country’s recycling puzzle. With $200 billion in revenue and around 150,000 employees, Glencore is well positioned to bring the plan to fruition.

Kochhar said the company is close to final approvals on what is now a $475 million DOE loan. While the Trump Administration has adjusted priorities regarding recycling and put an end to tax credits for electric vehicle purchases, the president is urging the mining and production of critical minerals within the U.S.

Biederman told COMIDA that they now must determine just what processes to implement as the company plots a “technical and operational path forward.”

Glencore also must assure stakeholders in Rochester that they are committed to the project.

“I understand that we mis-stepped,” Biederman said. “We’ve reached out to a lot of our key suppliers. To me, that’s what we have to continue to do. We have to repair the bridges.”

That’s because the impact of the facility could be far-reaching.

“It’s not important not just for the community, but the region and the nation as a whole,” COMIDA board member Norm Jones said. “We don’t need to be dependent on rare earth from other places.”

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