Startup Nth Cycle is working to address the challenges faced by the U.S. and Europe in nickel refining. Nickel, a crucial mineral used in various industries, has posed difficulties for these regions due to limited refining capabilities and reliance on countries like Indonesia and China.
With Chinese companies controlling a significant portion of global nickel refining capacity, Nth Cycle’s CEO, Megan O’Connor, emphasized the importance of establishing local refining facilities to reduce dependency on overseas processing. The company’s electrochemical system, designed for refining nickel and other essential minerals, has already shown promise with a production facility in Ohio.
Nth Cycle recently secured a $1.1 billion deal with Trafigura to expand its refining capacity, signaling a shift towards localizing metal supply chains. By leveraging technology to refine metals locally, companies can retain the value of resources like batteries, which are often sent abroad for recycling.
Nth Cycle’s initiative aligns with a broader trend in the industry, where companies like Westwin Elements are also striving to enhance domestic refining capabilities, despite facing challenges in expansion.
Source: TechCrunch