CEO and co-founder, Ajay Kochhar, invited to
speak at Demonstrate Deploy Decarbonize (“Deploy23”) event
regarding enabling new clean energy technologies at scale
Li-Cycle Holdings Corp. (NYSE: LICY) (“Li-Cycle” or the
“Company”), a leading global lithium-ion battery resource recovery
company, is pleased to announce its participation in the inaugural
Demonstrate Deploy Decarbonize (“Deploy23”) event in Washington,
D.C, an invitation only event organized by the Cleantech Leaders
Climate Forum in collaboration with the U.S. Department of Energy
(“DOE”) and the DOE Loan Programs Office (“DOE LPO”).
Deploy23 will bring together a select group of senior leaders
from various industries and sectors to accelerate momentum on the
adoption of new clean energy and decarbonization technologies,
deploying them at scale, and decarbonizing the U.S. economy.
On Wednesday, September 27, 2023, Ajay Kochhar, Li-Cycle CEO and
co-founder, will speak on the panel, “Building Momentum Working
with Communities" to discuss how community partnerships are
instrumental in ensuring that Li-Cycle's Spoke & Hub
Technologies™ are successfully deployed at scale and create
mutually beneficial local relationships.
As announced previously, Li-Cycle is in the final stage of the
DOE LPO process to close on a $375 million loan commitment through
the DOE’s Advanced Technology Vehicles Manufacturing Program. This
loan is intended to support the development of Li-Cycle’s flagship
Rochester Hub refining facility in Rochester, New York. The
Rochester Hub, which is on track to start commissioning later this
year, is expected to be a leading source of battery-grade materials
in North America.
For additional details about Deploy23, please visit:
https://www.deploy23.org/Home. Recordings of the plenary sessions
and other selected content from Deploy23 will be accessible to the
public after the event.
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. Established in 2016, and with major customers and
partners around the world, Li-Cycle is on a mission to recover
critical battery-grade materials to create a domestic closed-loop
battery supply chain for a clean energy future. The Company
leverages its innovative, sustainable, and patent-protected Spoke
& Hub Technologies™ to provide a safe, scalable,
customer-centric solution to recycle all different types of
lithium-ion batteries.
Our Spoke & Hub Technologies™ are based on a
hydrometallurgical process that provides an environmentally
friendly and cost-effective alternative to pyrometallurgical
processing and traditional mining methods. At our Spokes, or
pre-processing facilities, we recycle battery manufacturing scrap
and end-of-life batteries to produce black mass, a powder-like
substance which contains a number of valuable metals, including
lithium, nickel, and cobalt. At our Hubs, or post-processing
facilities, we will process black mass to produce critical
battery-grade materials, including lithium carbonate, nickel
sulphate, and cobalt sulphate. 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 planned participation of
Li-Cycle’s CEO and co-founder, Ajay Kochhar, at the Deploy23 event
in Washington, D.C.; the expected closing of a conditional
commitment for a loan of up to $375 million from the DOE; the
expected timeline for the start of commissioning of the Rochester
Hub; and the expectation that the Rochester Hub will be a leading
source of battery-grade materials in North America. 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/20230926978810/en/
Investor Relations Nahla A. Azmy
Sheldon D’souza investors@li-cycle.com
Media Louie Diaz
media@li-cycle.com
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