New York Battery-Recycling Project Gets $375 Million US Backing

[Smokin Joe]

https://energynow.com/2023/02/new-york-battery-recycling-project-gets-375-million-us-backing/

The U.S. subsidiary of Li-Cycle Holdings Corp. is getting a $375 million loan offer from the Biden administration for the expansion of a New York lithium-ion battery recycling plant.The conditional loan would help finance the expansion of a first-of-its-kind facility in Rochester that recycles old lithium-ion batteries into chemicals that can he used for the batteries of more than 200,000 electric vehicles a year, according to the Energy Department.

That's a lot of our money going into yet another recycling program. If the past is any indicator, the question remains if this will be just another subsidy siphon out of the taxpayers' pockets or whether it will be self-supporting.

[Kamaji]

It's a "conditional loan" which almost certainly means that, after the principals have sucked the cash piggybank dry, the loan will be forgiven, and taxpayers left on the hook.

[Smokin Joe]

It's a "conditional loan" which almost certainly means that, after the principals have sucked the cash piggybank dry, the loan will be forgiven, and taxpayers left on the hook.

Can you say "Solyndra"?

I knew you could!

[Kamaji]

Can you say "Solyndra"?

I knew you could!

[Smokin Joe]

There's an election to be bought, dammit! Those vote harvesters won't work for free!

(and they likely want cash!)