Li-Cycle Holdings Corp said on Monday it will build a French facility to break down batteries from forklift manufacturer The Kion Group , marking the latest expansion by the rapidly growing recycling company.
The French facility, which is expected to open in 2024 and complement similar sites under development in Germany and Norway, will break down lithium-ion batteries that power Kion's forklifts and other heavy machinery, giving Li-Cycle a fresh source of batteries to recycle beyond the consumer automobile market.
"We believe strongly in a regional approach to recycling as our customers begin to localize their own supply chains," Tim Johnston, Li-Cycle's executive chairman, told Reuters. "Europe continues to be a growth center for electrification, so we are going to continue to grow there."
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