Financial support will help Canada-based battery recycling company Restart Rochester headquarters projectFinancing the expansion of a lithium-ion battery resource recovery facility in Rochester. Li-Cycle said the expansion is expected to create up to 825 construction jobs and more than 200 permanent jobs at the facility when completed.

In addition to the new loan agreement, Li-Cycle announced a new agreement: $75 million investment from Glencore earlier this year. Glencore is a manufacturer, recycler and marketer of nickel and cobalt lithium-ion batteries.

“Today, we are excited to announce that we have reached this important milestone, which we believe represents strong confidence in Li-Cycle’s patented and environmentally friendly recycling technology and business model. Securing the DOE Loan Facility through our close collaboration with DOE is a critical step toward our goal of restarting construction on the Rochester Hub project,” said Li-Cycle President and CEO Ajay Kochhar.