Li-Cycle and EVE Energy, one of the world’s
largest lithium-ion battery cell manufacturers, sign memorandum of
understanding to collaborate on safe, sustainable, and efficient
recycling solutions
The collaboration further validates Li-Cycle’s
leading position as the world’s preferred recycling partner and a
leading pure-play sustainable lithium-ion battery recycler
Li-Cycle Holdings Corp. (NYSE: LICY) (“Li-Cycle” or the
“Company”), a leading global lithium-ion battery resource recovery
company, and EVE Energy Co., Ltd. (“EVE” or “EVE Energy”), a
leading lithium-ion battery technology company, are pleased to
announce that they have signed a memorandum or understanding
(“MOU”) to collaborate and explore lithium-ion battery recycling
solutions for EVE battery materials.
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the full release here:
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Tim Johnston, Li-Cycle co-founder and
Executive Chair, and Jianhua Liu, EVE Energy co-founder and CEO, at
the signing ceremony for a memorandum of understanding to
collaborate and explore lithium-ion battery recycling solutions for
EVE battery materials. (Photo: Business Wire)
The MOU includes a framework to explore global sustainable
recycling solutions for EVE lithium-ion battery materials in the
North American market, as well as battery manufacturing scrap
generated at EVE’s planned lithium-ion battery cell manufacturing
facilities in Malaysia and Hungary. The collaboration is also
expected to support EVE’s environmental goals through a closed-loop
supply solution and continue to support the global movement towards
electrification. EVE is one of the world’s largest lithium-ion
battery cell manufacturers, with global manufacturing facilities
and customers that include global automakers.
“EVE Energy places great importance on expanding our presence in
global markets,” said Mr. Jianhua Liu, co-founder and CEO of EVE
Energy. “To better serve our international customers, we are going
to construct green battery factories in Europe and Southeast Asia.
To achieve this goal, we are implementing strategic initiatives
such as industry chain integration, team internationalization, and
the application of international operational models. We are pleased
to partner with Li-Cycle to discuss the establishment of a high
environmental standard battery recycling system to support
sustainable development.”
“We are excited to collaborate with EVE, a proven global leader
in lithium-ion battery cell manufacturing, to provide a sustainable
resource recovery solution for lithium-ion battery products and
manufacturing scrap,” said Tim Johnston, co-founder and Executive
Chair of Li-Cycle. “Li-Cycle continues to scale as the world’s
preferred recycling partner and the MOU demonstrates how EVE
recognizes our capabilities in delivering world-class lithium-ion
battery recycling solutions with high efficiency, low emissions,
and minimal waste generation to support a sustainable lithium-ion
battery ecosystem. Li-Cycle continues to expand our business
strategically and flexibly in line with our growing global customer
base.”
In addition to its large lithium-ion battery manufacturing
footprint in Asia, EVE has announced plans to build its first
European battery manufacturing facility in Hungary, which is
expected to supply a major global automaker for the production of
electric vehicles (“EVs”). EVE has also announced plans to build a
lithium-ion battery cell manufacturing facility in Malaysia.
Li-Cycle’s patented Spoke & Hub Technologies™ enables a safe
and environmentally friendly way to recycle lithium-ion batteries
and battery manufacturing scrap and recover key battery-grade
materials, including lithium, nickel and cobalt. Li-Cycle’s overall
process includes an efficient environmental footprint, minimal
direct greenhouse gas emissions, and minimal wastewater discharge,
which helps position Li-Cycle’s innovative technologies as a strong
recycling solution for EVE’s battery cell manufacturing
capabilities.
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/.
About EVE Energy
Founded in 2001 and listed in Shenzhen in 2009, EVE Energy has
developed into a global player in the market, providing core
technologies and comprehensive solutions for both consumer and
power batteries, especially in the Internet of Things and the
energy internet. Currently, EVE Energy has set up a research
institute with 60 doctors and over 4,100 interdisciplinary R&D
engineers in materials, electrochemistry, structure design, and
electronic circuit design, obtained over 5,900 national patents in
China. The company launched a carbon reduction roadmap with a
series of low-carbon reduction efforts in energy use, the
manufacturing process, the supply chain, and resource management,
and was named a "National Green Factory." For more information
about EVE Energy, please visit https://www.evebattery.com/en.
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 the
collaboration between Li-Cycle and EVE will continue to support the
global movement towards electrification and that it will provide a
sustainable resource recovery solution for lithium-ion battery
products and scrap; the expectation that Li-Cycle will continue to
scale as the world’s preferred recycling partner; and the
expectation that Li-Cycle will continue to expand its business
strategically and flexibly in line with its growing global customer
base. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20230711949671/en/
Investor Relations Nahla A. Azmy Sheldon D’souza
investors@li-cycle.com
Media Louie Diaz media@li-cycle.com
Li Cycle (NYSE:LICY)
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