Recyclage Lithion has secured CAD 125 million in Series A funding led by IMM Investment Global to establish a lithium-ion battery recycling plant and technology development center in Quebec.

Target Information

Recyclage Lithion Inc. ("Lithion" or "the Company") has successfully closed the first significant tranche of a Series A financing round, which could total up to CAD 125 million. The investment is spearheaded by IMM Investment Global Limited ("IMM") with support from Fondaction and the LCC Fund. This financing will facilitate the construction of the first lithium-ion battery recycling plant in Quebec, as well as a state-of-the-art technology development center.

With the newly secured capital, Lithion will embark on three main phases of its industrialization plan. This includes the construction and commissioning of its first commercial dismantling and grinding facility ("Spoke") in Quebec; the establishment of an advanced technology development center ("CDT") to continually enhance Lithion's technology for future battery materials; and the finalization of engineering studies that will enable the upcoming construction of its hydrometallurgy plant ("Hub") in Quebec. This marks a pivotal transition for Lithion into the commercial phase of its development.

Industry Overview in Quebec

The lithium-ion battery recycling industry is vital in Quebec, which is strategically expanding its efforts to support sustainable practices. Quebec’s governmental policies have been favoring green technologies, promoting economic growth while mitigati