Nth Cycle Awarded $2.15 Million U.S. Department of Energy Grant
Grant part of the Battery Materials and Battery Manufacturing and Recycling Funding Opportunity (BMBMR) program of the Infrastructure Investment and Jobs Act
BEVERLY, Mass., Dec. 20, 2022 /PRNewswire/ -- Nth Cycle, an innovative metals processing and recycling technology company, has been awarded a $2.15 million grant from the U.S. Department of Energy (DOE), under the Battery Materials and Battery Manufacturing and Recycling Funding Opportunity (BMBMR) program of the Infrastructure Investment and Jobs Act passed in November 2021. The grant is in conjunction with Charlotte, NC-based Cirba Solutions, a leading battery management and materials processor.
Nth Cycle's electro-extraction technology transforms the outputs of metal scrap, electronics recycling, untapped mining resources, and waste from existing mines into high-purity critical minerals ready to be used in new production of lithium ion batteries. Electro-extraction is a cleaner, more efficient and lower-cost alternative to the conventional, and prohibitively dirty pyrometallurgy and hydrometallurgy processes currently used by battery recyclers and miners.
Nth Cycle's refining technology is a component of the recycling value chain, converting disassembled waste materials into the high-grade feedstocks for new battery manufacturing in the form of nickel mixed hydroxide product (MHP).
Announcing the funding at a recent site visit by Congressman Seth Moulton, Megan O'Connor, co-founder and CEO of Nth Cycle said, "recent legislation mandates the deployment of a compliant supply of critical minerals like nickel and cobalt that are mined, refined or recycled locally. Unfortunately, there's not enough compliant supply today to meet America's increasing demand for electrification," said O'Connor. "We expect Nth Cycle's electro-extraction technology to be a pivotal solution in closing the resulting gap between supply and demand for domestic critical materials through cost-effective, efficient and environmentally-conscious refining at home. The DOE's BMBMR program will help us and others accelerate those efforts."
"The Sixth District is home to some of the world's most cutting edge companies whose work today is preparing us for the future. Nth Cycle is one of those companies. Producing batteries in a cleaner and more sustainable way is increasingly important for the environment, the economy, and for America's supply chain security," said Congressman Seth Moulton. "It was fascinating to see the facility in Beverly, and I am thrilled that Nth cycle has received a $2.15 million grant as part of the Bipartisan Infrastructure Law to accelerate this work. Now more than ever, we need more companies who are willing to turn convention on its head to solve problems. This is how we'll transform our economy and protect our planet."
Nth Cycle is hiring and has open positions in Massachusetts across engineering, business, and the sciences.
For more information, visit: https://nthcycle.com/careers/
Nth Cycle's unique, modular electro-extraction technology supports refiners, miners, and battery recyclers as an alternative or enhancement to older, emissions-intensive hydrometallurgical and pyrometallurgical processes. Nth Cycle's technology transforms the outputs of metal scrap, electronics recycling, untapped mining resources, and waste from existing mines into high-purity critical minerals ready to be used in new production. For more information, visit: https://nthcycle.com/
Contact: Emily Lamontagne
Mahoney Communications Group
[email protected]
SOURCE Nth Cycle
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