Battery material producer BASF and Nanotech Energy have announced a partnership to enable the production of lithium-ion batteries in North America with recycled metals.
BASF will produce the cathode active materials, and Nanotech will produce the lithium-ion battery cells.
Go deeper with GlobalData
Both firms will be additionally partnering with American Battery Company, based in Nevada, and TODA Advanced Materials Inc. (TODA) in Ontario, Canada to establish a localised battery value chain for the North American consumer electronics and automotive industries.
The agreement aims to close the loop for lithium-ion batteries in North America.
Daniel Schönfelder, Senior Vice President Battery Base Metals and Recycling at BASF, said: “Our partnership with Nanotech, ABTC, and TODA marks an important step for BASF’s global battery recycling business.”
It comes as the US looks to build its EV supply chain and move away from China. Earlier this year, the Biden-Harris Administration announced a $192 million funding package to promote battery recycling for consumer products. The lithium battery market by as much as ten-fold by 2030.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataCurtis Collar, Chief Marketing and Sales Officer at Nanotech Energy, said: “This is a major milestone among the ongoing advances and growth of the lithium-ion battery market, and we are proud playing such a key role in the reduction of CO2 emissions along the battery value chain.”
