Germany Spoke is the largest in Li-Cycle’s
portfolio and expected to sustainably process up to 30,000 tonnes
of lithium-ion battery material per year
The first of two main lines has commenced
operations with the technology to process full electric vehicle
battery packs
Strengthens Li-Cycle’s position as a leading
sustainable battery recycler in Europe, with expected total global
Li-Cycle processing capacity of more than 80,000 tonnes per
year
Li-Cycle Holdings Corp. (NYSE: LICY) (“Li-Cycle” or the
“Company”), a leading global lithium-ion battery resource recovery
company, is pleased to announce the start of commercial operations
at its first Spoke recycling facility in Europe, located in
Magdeburg, Germany.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20230801419130/en/
Li-Cycle’s first European lithium-ion
battery recycling facility, which is located in Magdeburg, Germany,
has commenced operations. The Germany Spoke is the largest in the
company’s portfolio and one of the largest facilities of its kind
in Europe. (Photo: Business Wire)
The Germany Spoke’s first main processing line has now commenced
operations, with the second main line expected to start later in
2023. Each main line has the capacity to process up to 10,000
tonnes of lithium-ion battery material per year. With an additional
10,000 tonnes of ancillary capacity planned, the facility is
expected to have a total capacity of 30,000 tonnes per year, making
the Germany Spoke the largest Spoke in Li-Cycle’s current portfolio
and one of the largest facilities of its kind on the continent.
The Germany Spoke utilizes Li-Cycle’s patented and
environmentally friendly ‘Generation 3’ Spoke technology to
directly process all forms of lithium-ion battery waste, including
full electric vehicle (EV) battery packs, without the need for
discharging, dismantling or thermal processing. As Li-Cycle’s first
Spoke facility outside North America, the startup of the Germany
Spoke reinforces Li-Cycle’s ability to deploy its proprietary
modular technology and business model anywhere in the world,
growing in lockstep with customer demand. Germany represents the
largest market for both battery manufacturing scrap and the
expected supply of end-of-life lithium-ion batteries in Europe.
“We are thrilled to announce that Li-Cycle has started
operations in Europe with the opening of our largest Spoke to
date,” said Tim Johnston, co-founder and Executive Chair of
Li-Cycle. “This is a great milestone for Li-Cycle as we continue to
strengthen our position as a leading global battery recycling and
resource recovery company. The new Spoke facility in Germany will
serve as an anchor point for Li-Cycle’s expansion in Europe and
support our growing customer base, including global battery
manufacturers and automakers, in the largest battery market on the
continent. We are excited to continue expanding our footprint
around the world to build local and sustainable closed-loop battery
supply chains to support the clean energy transition.”
Li-Cycle’s Germany Spoke leverages existing infrastructure with
access to clean renewable energy and key transportation outlets.
The Spoke is strategically located near key manufacturing centers
to support the accelerating demand from Li-Cycle’s growing European
customer base. The Germany Spoke has created approximately 50 new
jobs, is more than 20,000 square metres (approximately 200,000
square feet) in size, and has approximately 10,000 square metres
(approximately 100,000 square feet) in warehousing capacity.
Across its five Spokes in North America and Europe, Li-Cycle is
expected to have a total input processing capacity of up to 81,000
tonnes of lithium-ion battery material per year. The network of
five operating Spokes, which are located in Kingston, Ontario;
Rochester, New York; Gilbert, Arizona; Tuscaloosa, Alabama; and now
Magdeburg, Germany, ensures that the Company has an established
footprint in key strategic regions to maintain its significant
first-mover advantage on both continents.
Li-Cycle has additional European Spokes planned in France and
Norway, with future planned capacity across its global Spoke
network of more than 100,000 tonnes of lithium-ion battery material
per year. Li-Cycle’s Spokes produce an intermediate product called
“black mass,” which includes a variety of valuable battery
materials such as lithium, nickel and cobalt.
Li-Cycle plans to process the black mass it produces from its
Spoke network at its future Hub facilities. The Company’s first
commercial Hub facility is under construction in Rochester, New
York, and is expected to commence commissioning later this year and
process up to 35,000 tonnes of black mass per year.
Li-Cycle has also announced plans to develop a second commercial
Hub in Europe. Li-Cycle and Glencore anticipate forming a 50/50
joint venture that would repurpose part of the existing Glencore
metallurgical complex in Portovesme, Italy to create this new Hub
(the “Portovesme Hub”). A definitive feasibility study for the
project is currently underway. The Portovesme Hub would be a
landmark project for Europe’s battery recycling industry and is
expected to be the largest source of recycled battery-grade
lithium, as well as recycled nickel and cobalt, on the European
continent. Once operational, the Portovesme Hub is expected to have
a processing capacity of 50,000-70,000 tonnes of black mass per
year.
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 the Germany
Spoke will sustainably process up to 30,000 tonnes of lithium-ion
battery material per year; the expected total global Li-Cycle
processing capacity of more than 80,000 tonnes per year; the
expected start of the second main line of the Germany Spoke later
in 2023; the expectation that the Germany Spoke will serve as an
anchor point for Li-Cycle’s expansion in Europe and that it will
support Li-Cycle’s growing customer base, including global battery
manufacturers and automakers, in the largest battery market in
Europe; the expectation that Li-Cycle will continue expanding its
footprint around the world to build local and sustainable
closed-loop battery supply chains to support the clean energy
transition; the planned addition of Spokes in France and Norway;
Li-Cycle’s future planned capacity across its global Spoke network
of more than 100,000 tonnes of lithium-ion battery material per
year; Li-Cycle’s plans to process the black mass it produces from
its Spoke network at its future Hub facilities; the expectation
that the Rochester Hub will commence commissioning later this year
and process up to 35,000 tonnes of black mass per year; the
anticipated joint venture between Li-Cycle and Glencore to create a
commercial Hub in Portovesme, Italy; the expectation that the
Portovesme Hub would be a landmark project for Europe’s battery
recycling industry and the largest source of recycled battery-grade
lithium, as well as recycled nickel and cobalt, on the European
continent; and the expectation that, once operational, the
Portovesme Hub would have processing capacity of 50,000-70,000
tonnes of black mass per year. 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/20230801419130/en/
Investor Relations Nahla A. Azmy
Sheldon D’souza investors@li-cycle.com Media Louie Diaz media@li-cycle.com
Li Cycle (NYSE:LICY)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
Li Cycle (NYSE:LICY)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024