licycle declined to disclose how much it spent on the german operation though the company has a budget of usd 35 million to usd 45 million to build battery processing facilities this yearlicycle said on tuesday it has started operations at its german plant to break down electricvehicle batteries for recycling part of the companys rapid expansion into the european market and plan to become one of the continents largest lithium producers the facility in magdeburg roughly 112 miles 180 kmsouthwest of berlin has the capacity to process 10000 metric tons of battery parts annually an amount that will eventually grow to 30000 tonnes advt the plant is licycles first in europe and will anchor the companys plans to replicate its north american hubandspoke network in which multiple collection and processing facilities turn batteries into black mass which is essentially shredded battery parts and then supply a central recycling plant that will separate the material into lithium nickel and other metals we see the european market as one of our key growth areas for the coming years tim johnston licycles executive chairman told reuters torontobased licycle is also building battery collection and processing facilities in norway and france collectively the three will feed black mass to an italian recycling plant that is expected to open by late 2026 or early 2027 being able to close the loop within the european ecosystem is a key strategic advantage moving forward johnston said the german plant is roughly 20000 square feet in size and employs about 50 people licycle declined to disclose how much it spent on the german operation though the company has a budget of usd 35 million to usd 45 million to build battery processing facilities this year until the italian facility opens licycle will send black mass produced in europe to its north american processing facility in new york amid strong opposition in europe to lithium mining licycle believes its operations on the continent could grow to become one of the regions largest lithium producers johnston said advt read alsochinas sunwoda plans usd 2747 mn hungarian battery plantbattery giant catl posts slower profit growth as competition heats upsona blw plans to spend 11k cr to 12k cr capex in next 3 yearschinese firms ramp up investment in skorea to get us ev tax credits reuters published on aug 2 2023 at 0757 am ist telegram facebook copy link be the first one to comment comment now comments comment now read comment 1 all comments post post find this comment offensive choose your reason below and click on the submit button this will alert our moderators to take actions reasons for reporting foul language defamatory inciting hatred against a certain community out of context spam others report join the community of 2m industry professionals subscribe to our newsletter to get latest insights analysis download etauto app get realtime updates save your favourite articles scan to download app licycle battery recycling at germany licycle battery recycling electricvehicle batteries for