Nth Cycle and Glencore Signed $1 Billion Battery Deal
The companies have agreed to a 10-year offtake partnership for critical battery materials and supply chain operations.
Updated on Sept. 22, 2026 in Electric Vehicles
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Nth Cycle and Glencore have entered into a binding term sheet for a 10-year offtake agreement valued at over $1 billion. The deal secures the total feedstock and offtake requirements for project SHIELD in South Carolina.
Why it matters
This partnership leverages federal support to address domestic demand for critical minerals while complying with U.S. export controls. It strengthens the supply chain for essential battery materials needed for electrification.
Glencore will supply 100% of black mass from its U.S. shredding assets for the project. Additionally, Nth Cycle secured a $100 million grant from the Department of Energy to support operations.
The players
Nth Cycle
A metal processing technology company that specializes in extracting critical materials from recycled battery components.
Glencore
A global diversified natural resources company involved in the production and marketing of commodities including battery metals.
Department of Energy
The federal agency responsible for advancing energy policy and technology in the United States through strategic grant funding.
The details
Nth Cycle utilizes its proprietary OYSTER system, an electrochemical process designed to extract nickel and cobalt from scrap and used batteries. The agreement ensures a steady supply of materials for project SHIELD as the companies explore future expansion into Europe.
Timeline
September 22, 2026: Nth Cycle announced the signed agreement.
End of 2026: Target date for executing definitive agreements.
Roadmap
This agreement signals a major shift toward domestic circularity in the battery industry, reducing reliance on international mineral processing. It positions the companies as key players in a growing ecosystem designed to meet the rising global demand for sustainable electric vehicle components.
Drivers may see increased long-term stability in electric vehicle production costs as critical supply chains become more localized and efficient. These industrial partnerships are foundational for sustaining the scale required to make electrification affordable for average car buyers.
The takeaway
The $1 billion deal reflects a maturation in battery recycling technology that allows for large-scale material recovery. Industry stakeholders should watch the end-of-year deadline for definitive agreements as a litmus test for further regional expansions.
Further reading
For more information on the evolving battery sector, see our coverage on Electric Vehicles.
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Do you support government funding to accelerate domestic processing of critical battery materials?
