Albemarle studying ways to recycle lithium in North America

Albemarle Corp (ALB.N) on Thursday said it is studying ways to develop a battery recycling business in North America and believes there would be many similarities with its current lithium operations.

“We’re evaluating just how we partner, invest and develop that supply chain,” Eric Norris, head of Albemarle’s lithium division, said on a Thursday conference call after the company posted better-than-expected quarterly results. “Many of the technologies are practiced in our existing operations.”

Albemarle aims to build a lithium processing facility in the U.S. Southeast later this decade to process and recycle lithium. Li-cycle Holdings Corp (LICY.N) and privately-held Redwood Materials Inc are among the existing North America battery recyclers.