Chennai: Bridge Green Upcycle, a US-based urban-mining company, has entered into a lithium carbonate commercial agreement with Hartree Partners, a global commodities trading firm. The eight-year term is valued at $500 million to $1 billion at current market conditions, according to Bridge Green Upcycle. Hartree receives exclusive marketing rights for lithium carbonate produced by Bridge Green during the term. Hartree will purchase and market approximately 10,000 metric tonnes per year across all grades produced at Bridge Green facilities, the company said.Bridge Green recovers critical materials from end-of-life and scrap lithium-ion batteries and has a facility at Gummidipoondi. Hartree also made an equity investment in Bridge Green’s round to fund expansion of battery recycling and critical-mineral refining. Bridge Green’s founder and CEO, Balki Iyer, said, “This agreement marks a defining milestone and a significant step towards developing a circular supply chain for Bridge Green.”
