Nth Cycle Signs $1 Billion Glencore Battery Recycling Deal

Massachusetts-based Nth Cycle has signed a 10-year offtake agreement valued at more than $1 billion with Glencore to process recycled battery materials into lithium carbonate and a nickel-rich mixed hydroxide product. Glencore will supply about 24,000 metric tons of black mass annually from its U.S. shredding operations, while the exact output will depend on the material’s mineral composition and prices. The feedstock will be processed at Nth Cycle’s planned Project SHIELD facility in the Southeast, with the company seeking a larger site after being selected for up to $100 million in U.S. Department of Energy funding. The partnership is intended to support domestic critical-mineral processing and could also lead to deployments of Nth Cycle’s electrochemical refining technology for copper and rare earths in the United States and abroad.