Bridge Green Upcycle has secured a long-term supply agreement with Hartree Partners to deliver 10,000 tonnes of lithium carbonate annually. The deal, valued at up to $1 billion, will begin in 2028 from the company's Chennai facility. Hartree has also made an equity investment in the firm to support its expansion, marking a significant development for the battery recycling and critical minerals sector.
Bridge Green Upcycle has entered into a major supply agreement with commodities trader Hartree Partners, securing a long-term commercial contract valued between $500 million and $1 billion. This deal centers on the supply of lithium carbonate recovered from spent batteries, with deliveries expected to commence in 2028. The contract is set for an initial eight-year term, with an option for both parties to extend the partnership by another seven years.
The agreement is anchored by the company's operations in Chennai, where it maintains specialized infrastructure for mineral extraction from lithium-ion batteries. While the company currently manages a capacity of 7,200 tonnes per annum, this deal is designed to scale its refining capabilities significantly over the next few years to meet the targeted annual delivery of 10,000 tonnes.
Beyond the supply contract, Hartree Partners has confirmed an equity investment in Bridge Green, providing capital to support the company’s expansion and refining operations. This move is part of Hartree’s involvement in Project Vault, a large-scale international initiative aimed at securing strategic reserves of critical minerals. For investors, this partnership serves as a validation of Bridge Green’s proprietary recovery technology, as the deal follows a rigorous due diligence process by the commodities firm.
The battery recycling and circular economy sector is gaining traction as industries look to secure critical mineral supplies. However, the timeline for this specific project is notable; with production scheduled to begin in 2028, the company faces significant execution requirements to expand its capacity and refine its processes. Investors may track the company's progress on its Chennai facility expansion, as the project's success will depend on managing operational costs and technology scaling over the coming years. Additionally, because the economics of battery recycling are sensitive to the global market price of lithium, fluctuations in commodity prices could impact the project's eventual profitability. The company’s ability to meet its production targets by the 2028 deadline remains a key factor to watch.