Recycling

Glencore acquired Li-Cycle, Ascend Elements filed for bankruptcy, and European recyclers raised over half a billion euros as commercial-scale battery recycling consolidated in 2026

The first EV battery recycling shakeout separated commercial-scale survivors from undercapitalised startups; Redwood Materials reached a $6 billion valuation, Germany's cylib raised €63.4 million, and EU Battery Passport compliance deadlines gave the sector a regulatory floor

Whose Money ·7 takes ·Jun 26

Huayou Cobalt signed a Hyundai MoU, joined a 20 GWh Indonesia battery JV, and partnered with tozero on European recycling

China's largest cobalt-battery materials company expanded simultaneously into Korean EV supply, Indonesian cell manufacturing, and European recycling in 2026, building a vertically integrated position from DRC mining to end-of-life battery recovery

The Quiet Shift ·6 takes ·Jun 26