With the rapid growth of electric vehicles and renewable energy storage, the demand for rechargeable batteries is surging globally. This also leads to the mounting issue of spent battery disposal and recycling. Investing in battery recycling companies can be profitable while promoting sustainability. Experts estimate the global battery recycling market to reach $24.57 billion by 2030. There are a few promising battery recycling companies to invest in for the long run.
American Manganese focuses on recycling cathode materials from lithium-ion batteries
American Manganese Inc. (AMY) is a Canadian company focused on advanced lithium-ion battery cathode recycling. Their patented recycling process allows up to 100% extraction of cathode metals like lithium, cobalt, nickel, and manganese from spent electric vehicle and consumer electronics batteries. This eliminates the need for mining, reduces manufacturing costs, and prevents toxic battery waste from ending up in landfills. In 2022, AMY received a US government grant to advance their battery recycling tech. With EV adoption rising, AMY’s eco-friendly process helps extract scarce resources and supplies recycled cathode material to battery makers.
Li-Cycle leverages innovative technology to recover battery materials
Li-Cycle Holdings Corp is a Canadian-American lithium-ion battery resource recovery company. Their Spoke & Hub Technologies allow up to 95% recovery of all materials from spent batteries in an environmentally sound manner. The recovered resources like cobalt, lithium, nickel can be returned to the supply chain to produce new batteries. Li-Cycle serves the electric vehicle, energy storage, and consumer electronics industries. In 2021, Li-Cycle became a public company via SPAC merger and has partnerships with major companies like LG Energy Solution, Glencore, and Traxys North America.
Redwood Materials takes a circular economy approach to battery recycling
Redwood Materials was founded in 2017 by former Tesla CTO JB Straubel and focuses on recycling metals in EV batteries and electronics. Their aim is to create a circular supply chain and reduce dependency on mining raw materials. Redwood recycles end-of-life batteries, retrieves materials like lithium, nickel, cobalt, and copper, and supplies them back to battery cell producers. They have partnerships with major companies like Panasonic, Envision AESC, and Amazon. Redwood raised over $700 million in 2021, making it a promising battery recycling company to watch.
Battery Resourcers recycles lithium-ion batteries in an efficient, sustainable way
Based in Massachusetts, Battery Resourcers operates a unique hydrometallurgical recycling process for lithium-ion batteries. Their safe, automated process can recover over 95% of battery materials for reuse, including lithium, cobalt, nickel, manganese. The company has battery recycling partnerships with Honda, Stanley Black & Decker, and others. In 2021, Battery Resourcers raised $20 million in a Series B funding round. With demand for ethical, domestic battery recycling on the rise, Battery Resourcers is poised for further growth.
With electric vehicle adoption increasing globally, battery recycling companies like American Manganese, Li-Cycle, Redwood Materials, and Battery Resourcers present promising investment opportunities. Their innovative recycling processes recover valuable battery materials in a sustainable way, promoting a circular economy. As spent EV and consumer electronics batteries keep piling up, these companies provide an eco-friendly solution while unlocking a profitable new market.