Lithion has developed a complete, fully operational, and sustainable solution for lithium-ion battery recycling. The Company has shown its ability to recycle over 95% of battery components with its highly efficient and cost-effective process.
With this investment and the strong support of its new partners, Lithion is pursuing three pivotal aspects of its industrialization plan, including: the construction and commissioning of its first commercial mechanical separation plant (Spoke) in Quebec; the construction and opening of a state-of-the-art Technology Development Center to continuously develop Lithion’s technology for future battery chemistries and battery materials specifications; and the completion of detailed engineering studies in advance of the near-term start of construction of Lithion’s Quebec-based hydrometallurgy plant (Hub).
In connection with the financing, Lithion has reached an agreement with IS Dongseo Company Ltd (“ISD”), a Korea-based leading ESG company with an environmental business segment, for an exclusive business right for the use of its lithium-ion battery recycling technology on the Korean market.
“Lithion’s management team collaborated intensively with Ancoris to produce a fantastic outcome! We relied on Ancoris’ expertise, knowledge, and abilities to structure the financing and manage the process. The Ancoris team was fully dedicated to the success of this financing. I am pleased that we selected Ancoris to work with us on this critical aspect of Lithion’s exciting journey.”
– Benoit Couture, President and CEO of Lithion
“IMM Investment Global is thrilled to take the important first step into the EV battery value chain through its strategic investment into Lithion. We have deep conviction in Lithion’s technology and in its potential to penetrate the global recycling market where Korean battery players have strong presence globally. Having successfully launched IMM Global Battery Fund and IMM Clean Energy Transition Fund in 2021, IMM will join forces with Lithion to materialize this potential in the global battery value chain.”
– Youngjoon Lee, Managing Partner & CEO of IMM Investment Global Limited
About Lithion
For more information about Lithion, please visit: www.lithionrecycling.com
About IMM Investment Global
For more information about IMM, please visit: http://imm.co.kr/
About Fondaction
For more information about Fondaction, please visit: www.fondaction.com
