Bridge Green Upcycle, an urban-mining company specializing in recovering critical materials from end-of-life and scrap lithium-ion batteries, and Hartree Partners, a global energy and commodities trading firm, have announced a lithium carbonate commercial agreement valued at an estimated $500 million to $1 billion at current market conditions, according to a press release dated September 23, 2026, published by The Tribune India. The initial eight-year agreement grants Hartree exclusive marketing rights for lithium carbonate produced by Bridge Green facilities. Under the terms, Hartree will purchase and market approximately 10,000 metric tons per year across all grades produced by Bridge Green.
The parties retain the option to renew the agreement for an additional seven years. The commercial agreement coincides with an equity investment by Hartree in Bridge Green's bridge financing round, which will fund the company's planned expansion of battery recycling and critical-mineral refining operations. Bridge Green Founder and CEO Balki Iyer stated that the agreement "marks a defining milestone and a significant step towards developing a circular supply chain for Bridge Green," adding that "the scale and long term commitment by Hartree following a rigorous evaluation process, provides strong validation of our technology and business model." Hartree's Head of Battery and Critical Minerals, Landon Berns, emphasized that "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 timing of this agreement reflects growing government concern about lithium supply security.
According to U.S. Geological Survey 2026 data cited in the announcement, the United States remains import-reliant for more than 50 percent of its lithium supply. In February 2026, the U.S. government announced Project Vault, a proposed $12 billion public-private Strategic Critical Minerals Reserve, with Hartree selected as a supplier.
Hartree's marketing agreement with Bridge Green forms part of the company's effort to build the supply portfolio for this initiative. In August 2026, 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.
This regulatory measure aims to retain critical minerals within the domestic supply chain. Bridge Green commissioned its 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. The company intends to use proceeds from its upcoming Series A funding round to develop fully integrated commercial refining facilities in the United States and India, with Hartree serving as the downstream marketing channel as these facilities become operational.
First lithium carbonate volumes under the Hartree agreement are projected for 2028. The agreement underscores the strategic importance governments are placing on lithium as a critical commodity and the need to develop more resilient domestic supply chains for energy, manufacturing, technology, and defense applications.
Source: tribuneindia.com