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, was honoured to host Katie Hobbs, the Governor of Arizona,
at the Company’s lithium-ion battery recycling facility located in
Gilbert, Arizona.
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Arizona Governor Katie Hobbs and Li-Cycle
Co-Founder and Executive Chair Tim Johnston at the company’s Spoke
facility in Gilbert, Arizona discussing Li-Cycle’s sustainable and
safe process to recycle lithium-ion batteries. (Photo: Business
Wire)
During the visit, the Governor was joined by Tim Johnston,
Li-Cycle’s co-founder and Executive Chair, for a tour of Li-Cycle’s
Spoke facility, which leverages innovative technology to recycle
lithium-ion battery materials. The Company’s proprietary submerged
shredding recycling process has the capability to process full
electric vehicle (EV) and energy storage battery packs without any
manual disassembly or discharging, and can recycle all types of
lithium-ion battery materials regardless of chemistry or form
factor.
Li-Cycle’s Arizona Spoke facility, which can recycle up to of
18,0001 tonnes of lithium-ion battery material per year, is
expected to play a key role in building a clean energy future in
the U.S. and support the continued growth of the expanding
lithium-ion battery supply chain in the state. During the visit and
tour, the leaders exchanged views on the importance of safe,
efficient, and environmentally friendly battery recycling and the
clean tech industry in Arizona.
"Li-Cycle's lithium-ion battery recycling is critical to
powering our future economy, and their Gilbert facility is a large
part of our blossoming clean tech and manufacturing ecosystem in
the East Valley,” said Governor Katie Hobbs. “This company is yet
another example of how Arizona is a leader in green manufacturing,
and is building a robust clean energy economy.”
“We were delighted to have the opportunity to host Governor
Hobbs at our Spoke facility in Gilbert, Arizona and showcase our
safe, sustainable and innovative technology for recycling
lithium-ion battery material,” said Tim Johnston, co-founder and
Executive Chair of Li-Cycle. “Li-Cycle continues to play a key role
in driving the growth of a more sustainable battery ecosystem and
EV supply chain in Arizona and across the U.S. We are excited to
continue working closely with the local community to build a
cleaner, domestic supply chain of key battery-grade materials to
support the transition to electrification.”
About Li-Cycle Holdings Corp.
Li-Cycle (NYSE: LICY) is a leading global lithium-ion battery
resource recovery company and North America’s largest pure-play
lithium-ion battery recycler, with a rapidly growing presence
across Europe. The Company leverages its innovative, sustainable
and patented Spoke & Hub Technologies™ to provide a safe,
scalable, customer-centric solution to recycle all different types
of lithium-ion batteries. Established in 2016, and with major
customers and partners around the world, Li-Cycle recovers critical
battery-grade materials to create a domestic closed-loop battery
supply chain for a clean energy future. 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: the expectation that Li-Cycle’s
Arizona Spoke facility will play a key role in building a clean
energy future in the U.S. and support the continued growth of the
expanding lithium-ion battery supply chain in the state; the
expectation that Li-Cycle will continue to play a key role in
driving the growth of a more sustainable battery ecosystem and EV
supply chain in Arizona and across the U.S.; and the expectation
that Li-Cycle will continue working closely with the local
community to build a cleaner, domestic supply chain of key
battery-grade materials to support the transition to
electrification. 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.
______________________ 1 Total processing
capacity includes main line and ancillary processing.
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Investor Relations Nahla A. Azmy
Sheldon D’souza investors@li-cycle.com
Media Louie Diaz
media@li-cycle.com
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