Lithium carbonate agreement with an initial eight-year term agreed alongside an equity investment
Supports Bridge Green's U.S. and India scale-up and Hartree's position in U.S. battery recycling
NEW YORK, Sept. 21, 2026 /PRNewswire/ -- Bridge Green Upcycle ("Bridge Green"), an urban-mining company recovering critical materials from End of Life & scrap lithium-ion batteries, and Hartree Partners ("Hartree"), a global energy and commodities trading firm, today announced they have entered into a lithium carbonate commercial agreement with an initial eight-year term valued at an estimated value $500 million to $1 billion at current market conditions. Hartree receives exclusive marketing rights for lithium carbonate produced by Bridge Green during the term. Hartree will purchase and market approximately 10,000 metric tons per year across all grades produced at Bridge Green facilities. The parties can renew the agreement for an additional seven years.
The agreement coincides with an equity investment by Hartree in Bridge Green's bridge financing round to fund Bridge Green's planned expansion of battery recycling and critical-mineral refining. Together, the transactions reflect Hartree's confidence in Bridge Green's technology, management team and its ability to scale domestic production of critical materials.
Bridge Green's Founder & CEO, Balki Iyer, said: "This agreement marks a defining milestone and a significant step towards developing a circular supply chain for Bridge Green. The scale and long term commitment by Hartree following a rigorous evaluation process, provides strong validation of our technology and business model. More importantly, this accelerates deployment to support the domestic need for critical minerals."
Hartree's Head of Battery and Critical Minerals, Landon Berns, said: "Critical minerals are a key pillar of Hartree's growth strategy, and securing domestic supply and returning recovered materials to productive use are core parts of our approach."
The agreement comes as governments treat lithium as a strategic commodity and seek more resilient supply chains for energy, manufacturing, technology, and defense. The U.S. remains import-reliant for more than 50% of its lithium supply, according to U.S. Geological Survey 2026 data. In February, the U.S. government announced Project Vault, a proposed $12 billion public-private Strategic Critical Minerals Reserve; Hartree was selected as a supplier, and this marketing agreement forms part of Hartree's effort to build that supply portfolio. On August 27, the U.S. Department of Commerce's Bureau of Industry and Security enacted a one-year export ban on battery-recycling material, including black mass, requiring recyclers to allocate monthly volumes to U.S.-based counterparties, in an effort to retain critical minerals within the domestic supply chain. Against this backdrop, the agreement helps position Hartree to secure domestic access to lithium and build out a more resilient domestic critical mineral supply chain.
Bridge Green commissioned Circularity Center India in the second quarter of 2026, with nameplate capacity of approximately 7,200 metric tons per year of lithium-ion battery input. Proceeds from Bridge Green's upcoming Series A are intended to fund its planned fully integrated commercial refining facilities in the U.S. and India, with Hartree serving as the downstream marketing channel as they come online. The first lithium carbonate volumes under the Hartree agreement are projected in 2028.
About Bridge Green
Bridge Green Upcycle is an urban-mining company transforming waste into value, beginning with lithium-ion batteries. Bridge Green provides high quality critical minerals and second life Battery Systems through proprietary digital and materials technologies, by combining advanced recovery process, battery-health intelligence software and second-life BESS solutions to support a circular battery economy and more resilient critical-mineral supply.
About Hartree Partners
Hartree Partners, LP is a leading global merchant commodities firm facilitating the flow of energy, metals, agriculture, and environmental products across the full commodity supply chain, connecting producers and consumers. Hartree was founded in 1997 and is jointly owned by senior management and funds managed by Oaktree Capital Management, LP, and employs around 5,000 individuals worldwide.
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This release contains forward-looking statements regarding planned facilities, production timing, policy measures, and estimated contract value, which are subject to change. The $500 million to $1 billion range is illustrative at current market conditions and depends on delivered volumes and prevailing prices; it is not a guarantee of revenue.
SOURCE Bridge Green Upcycle
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