March 22 (Reuters) - U.S.-based Cirba Solutions will invest more than $300 million in a lithium-ion EV battery recycling plant in South Carolina that will produce materials to power over 500,000 batteries every year, the company said on Wednesday.
Global demand for lithium batteries has boomed as more customers opt for electric cars and energy storage systems and governments seek to reduce their carbon footprint.
Operations are expected to begin in late 2024 at the 200-acre plant located near Columbia, South Carolina in Richland County, Cirba said, adding it will create over 300 jobs.
The plant will focus on processing end-of-life hybrid and electric-vehicle batteries, gigafactory scrap and end-of-life consumer batteries to extract critical materials like nickel, cobalt and lithium.
Charlotte, North Carolina-based Cirba was awarded $75 million from the U.S. government last year to expand its Ohio facility. It plans to invest more than $1 billion over the next five years to expand the infrastructure for battery recycling.
(Reporting by Eva Mathews in Bengaluru; Editing by Sriraj Kalluvila)
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.