Li-Cycle’s commitment to the United Nations
Global Compact, the world’s largest corporate sustainability
initiative, reflects the importance of sustainability to its
business
Li-Cycle Holdings Corp. (NYSE: LICY) (“Li-Cycle” or the
“Company”), an industry leader in lithium-ion battery resource
recovery and the leading lithium-ion battery recycler in North
America, is pleased to announce it has joined the United Nations
Global Compact (“UNGC”) initiative, a voluntary leadership platform
for the development, implementation and disclosure of responsible
business practices.
Li-Cycle is proud to join thousands of other companies worldwide
committed to aligning their operations and strategies with the
UNGC’s Ten Principles in the areas of human rights, labour,
environment, and anti-corruption, and to take action in support of
the United Nations’ Sustainable Development Goals (SDGs). The
Company’s participation in the UNGC is a formal expression of
Li-Cycle’s commitment to uphold the highest standards relating to
these principles. Aligned with Li-Cycle's Environment, Social, and
Governance (ESG) strategy, the Company aims to make a meaningful
and positive impact on the SDGs through its comprehensive approach
to sustainability and responsible business practices.
"I am proud to announce Li-Cycle’s commitment to join the UNGC,
which reflects our adherence to the highest sustainability
standards for our ESG strategy and roadmap,” said Ajay Kochhar,
Li-Cycle’s CEO and co-founder. “Joining the UNGC further
demonstrates Li-Cycle’s unwavering commitment to operating as a
responsible and sustainable global clean technology company.
Through our active participation in this initiative, Li-Cycle aims
to contribute to the collective efforts in creating a more
inclusive, ethical, and cleaner world. Together with other
like-minded organizations, we can drive positive change and make a
lasting impact."
Li-Cycle’s patented Spoke & Hub Technologies™ enables a safe
and environmentally friendly way to recycle lithium-ion batteries
and recover critical battery-grade materials. The attributes of the
Company’s process include an efficient environmental footprint,
minimal direct greenhouse gas emissions, and minimal wastewater
discharge. Li-Cycle has been recognized for its impact in building
a more sustainable battery materials supply chain and accelerating
the movement towards decarbonization. In line with the Ten
Principles, Li-Cycle supports human rights, protect its workers and
communities, and ensures that its operations adhere to the highest
ethical and safety standards. To view Li-Cycle’s interim ESG
Report, click here.
Launched in 2000, the UNGC is the largest corporate
sustainability initiative in the world, with more than 15,000
companies and 3,000 non-business signatories based in over 160
countries, and more than 70 Local Networks. For more information
about this initiative, please visit the Company’s profile on the
UNGC website and learn more about how Li-Cycle is making a positive
impact on the global business environment by promoting
sustainability and ethics.
About Li-Cycle Holdings Corp.
Li-Cycle (NYSE: LICY) is on a mission to leverage its innovative
Spoke & Hub Technologies™ to provide a customer-centric,
end-of-life solution for lithium-ion batteries, while creating a
secondary supply of critical battery-grade materials. Lithium-ion
rechargeable batteries are increasingly powering our world in
automotive, energy storage, consumer electronics, and other
industrial and household applications. The world needs improved
technology and supply chain innovations to better manage battery
manufacturing waste and end-of-life batteries, and to meet the
rapidly growing demand for critical and scarce battery-grade raw
materials through a closed-loop solution. For more information,
visit https://li-cycle.com.
Forward-Looking Statements
Certain statements contained in this press release may be
considered “forward-looking statements” within the meaning of the
U.S. Private Securities Litigation Reform Act of 1995, Section 27A
of the U.S. Securities Act of 1933, as amended, Section 21 of the
U.S. Securities Exchange Act of 1934, as amended, and applicable
Canadian securities laws. Forward-looking statements may generally
be identified by the use of words such as “believe”, “may”, “will”,
“continue”, “anticipate”, “intend”, “expect”, “should”, “would”,
“could”, “plan”, “potential”, “future”, “target” or other similar
expressions that predict or indicate future events or trends or
that are not statements of historical matters, although not all
forward-looking statements contain such identifying words.
Forward-looking statements in this press release include but are
not limited to statements about: Li-Cycle’s intention to make a
meaningful and positive impact on the SDGs through its
comprehensive approach to sustainability and responsible business
practices; Li-Cycle’s intention to contribute to the collective
efforts in creating a more inclusive, ethical, and cleaner world;
and Li-Cycle’s ability to drive positive change and make a lasting
impact. These statements are based on various assumptions, whether
or not identified in this communication, including but not limited
to assumptions regarding the timing, scope and cost of Li-Cycle’s
projects; the processing capacity and production of Li-Cycle’s
facilities; Li-Cycle’s ability to source feedstock and manage
supply chain risk; Li-Cycle’s ability to increase recycling
capacity and efficiency; Li-Cycle’s ability to obtain financing on
acceptable terms; Li-Cycle’s ability to retain and hire key
personnel and maintain relationships with customers, suppliers and
other business partners; general economic conditions; currency
exchange and interest rates; compensation costs; and inflation.
There can be no assurance that such estimates or assumptions will
prove to be correct and, as a result, actual results or events may
differ materially from expectations expressed in or implied by the
forward-looking statements.
These forward-looking statements are provided for the purpose of
assisting readers in understanding certain key elements of
Li-Cycle’s current objectives, goals, targets, strategic
priorities, expectations and plans, and in obtaining a better
understanding of Li-Cycle’s business and anticipated operating
environment. Readers are cautioned that such information may not be
appropriate for other purposes and is not intended to serve as, and
must not be relied on, by any investor as a guarantee, an
assurance, a prediction or a definitive statement of fact or
probability.
Forward-looking statements involve inherent risks and
uncertainties, most of which are difficult to predict and many of
which are beyond the control of Li-Cycle, and are not guarantees of
future performance. Li-Cycle believes that these risks and
uncertainties include, but are not limited to, the following:
Li-Cycle’s inability to economically and efficiently source,
recover and recycle lithium-ion batteries and lithium-ion battery
manufacturing scrap, as well as third party black mass, and to meet
the market demand for an environmentally sound, closed-loop
solution for manufacturing waste and end-of-life lithium-ion
batteries; Li-Cycle’s inability to successfully implement its
global growth strategy, on a timely basis or at all; Li-Cycle’s
inability to manage future global growth effectively; Li-Cycle’s
inability to develop the Rochester Hub, and other future projects
including its Spoke network expansion projects in a timely manner
or on budget or that those projects will not meet expectations with
respect to their productivity or the specifications of their end
products; Li-Cycle’s failure to materially increase recycling
capacity and efficiency; Li-Cycle may engage in strategic
transactions, including acquisitions, that could disrupt its
business, cause dilution to its shareholders, reduce its financial
resources, result in incurrence of debt, or prove not to be
successful; one or more of Li-Cycle’s current or future facilities
becoming inoperative, capacity constrained or if its operations are
disrupted; additional funds required to meet Li-Cycle’s capital
requirements in the future not being available to Li-Cycle on
acceptable terms or at all when it needs them; Li-Cycle expects to
continue to incur significant expenses and may not achieve or
sustain profitability; problems with the handling of lithium-ion
battery cells that result in less usage of lithium-ion batteries or
affect Li-Cycle’s operations; Li-Cycle’s inability to maintain and
increase feedstock supply commitments as well as securing new
customers and off-take agreements; a decline in the adoption rate
of EVs, or a decline in the support by governments for “green”
energy technologies; decreases in benchmark prices for the metals
contained in Li-Cycle’s products; changes in the volume or
composition of feedstock materials processed at Li-Cycle’s
facilities; the development of an alternative chemical make-up of
lithium-ion batteries or battery alternatives; Li-Cycle’s revenues
for the Rochester Hub are derived significantly from a single
customer; Li-Cycle’s insurance may not cover all liabilities and
damages; Li-Cycle’s heavy reliance on the experience and expertise
of its management; Li-Cycle’s reliance on third-party consultants
for its regulatory compliance; Li-Cycle’s inability to complete its
recycling processes as quickly as customers may require; Li-Cycle’s
inability to compete successfully; increases in income tax rates,
changes in income tax laws or disagreements with tax authorities;
significant variance in Li-Cycle’s operating and financial results
from period to period due to fluctuations in its operating costs
and other factors; fluctuations in foreign currency exchange rates
which could result in declines in reported sales and net earnings;
unfavorable economic conditions, such as consequences of the global
COVID-19 pandemic; natural disasters, unusually adverse weather,
epidemic or pandemic outbreaks, cyber incidents, boycotts and
geo-political events; failure to protect or enforce Li-Cycle’s
intellectual property; Li-Cycle may be subject to intellectual
property rights claims by third parties; Li-Cycle’s failure to
effectively remediate the material weaknesses in its internal
control over financial reporting that it has identified or if it
fails to develop and maintain a proper and effective internal
control over financial reporting. These and other risks and
uncertainties related to Li-Cycle’s business are described in
greater detail in the section entitled “Risk Factors” and “Key
Factors Affecting Li-Cycle’s Performance” in its Annual Report on
Form 20-F filed with the U.S. Securities and Exchange Commission
and the Ontario Securities Commission in Canada. Because of these
risks, uncertainties and assumptions, readers should not place
undue reliance on these forward-looking statements. Actual results
could differ materially from those contained in any forward-looking
statement.
Li-Cycle assumes no obligation to update or revise any
forward-looking statements, except as required by applicable laws.
These forward-looking statements should not be relied upon as
representing Li-Cycle’s assessments as of any date subsequent to
the date of this press release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230601005138/en/
Investor Relations Nahla A. Azmy
Sheldon D’souza investors@li-cycle.com
Media Louie Diaz
media@li-cycle.com
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