Press Release – Bridge Green Upcycle and Hartree Partners Agreement (23 Sep 2026)
Bridge Green Upcycle, an urban‑mining firm that recovers critical materials from end‑of‑life lithium‑ion batteries, and Hartree Partners, a global energy and commodities trading firm, announced a commercial lithium carbonate agreement on 23 September 2026 in New York. The contract spans an initial eight‑year term and is estimated at $500 million to $1 billion based on prevailing market prices. Under the agreement, Hartree will purchase and exclusively market approximately 10,000 metric tons of lithium carbonate per year across all grades produced at Bridge Green facilities, with an option to renew for a further seven years.
In parallel, Hartree will make an equity investment in Bridge Green’s bridge‑financing round, providing capital to fund Bridge Green’s planned expansion of battery‑recycling and critical‑mineral refining capacity in both the United States and India. The equity infusion is intended to support the construction of fully integrated commercial refining facilities, for which Hartree will serve as the downstream marketing channel once operational.
Bridge Green’s Founder and CEO, Balki Iyer, described the deal as a defining milestone that validates the company’s technology and accelerates deployment to meet domestic critical‑mineral demand. Hartree’s Head of Battery and Critical Minerals, Landon Berns, highlighted critical minerals as a core pillar of Hartree’s growth strategy and emphasized the importance of securing domestic supply.
The agreement aligns with U.S. strategic mineral initiatives. The United States imports over 50 % of its lithium, according to USGS 2026 data, prompting policies such as the $12 billion Project Vault strategic critical‑minerals reserve, for which Hartree was selected as a supplier in February 2026. Additionally, on 27 August 2026 the U.S. Department of Commerce’s Bureau of Industry and Security imposed a one‑year export ban on battery‑recycling material, including black mass, requiring recyclers to allocate monthly volumes to U.S.-based counterparties. The Bridge Green‑Hartree arrangement positions Hartree to secure domestic lithium supply and contribute to a more resilient critical‑mineral supply chain.
Bridge Green commissioned its Circularity Center in India in Q2 2026, with a name‑plate capacity of roughly 7,200 metric tons per year of lithium‑ion battery input. The first lithium carbonate volumes under the Hartree agreement are projected for 2028, coinciding with the ramp‑up of Bridge Green’s planned refining facilities.
About Bridge Green Upcycle – An urban‑mining company that transforms waste lithium‑ion batteries into high‑quality critical minerals and second‑life battery energy storage systems through proprietary digital and materials technologies.
About Hartree Partners – A leading global merchant commodities firm founded in 1997, jointly owned by senior management and funds managed by Oaktree Capital Management, employing around 5,000 people worldwide.
Media contacts: marcomm@bridgegreenupcycle.com; hartree@fgsglobal.com
The release contains forward‑looking statements regarding planned facilities, production timing, policy measures, and the estimated contract value, which are subject to change. The $500 million‑$1 billion range is illustrative and depends on delivered volumes and prevailing prices.