Li-Cycle hosts local dignitaries, stakeholders
and partners as it officially opens its Germany Spoke, and supports
Saxony-Anhalt’s role in fostering innovation and pioneering
sustainable solutions
Sülzetal in Saxony-Anhalt is an ideal location
for the company’s first European Spoke due to its proximity to key
battery manufacturing facilities and Li-Cycle customers
The Germany Spoke opening reinforces Li-Cycle’s
growing position as a leading sustainable battery recycler in
Europe
Li-Cycle Holdings Corp. (NYSE: LICY) (“Li-Cycle” or the
“Company”), a leading global lithium-ion battery resource recovery
company, yesterday celebrated the grand opening of its first Spoke
recycling facility in Europe, located in Sülzetal near Magdeburg in
Saxony-Anhalt, Germany.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20230927626410/en/
Ribbon cutting at Li-Cycle’s grand
opening event at its Spoke recycling facility in Saxony-Anhalt,
Germany. Left to right: J�rg Methner, Mayor, Sülzetal; Isabelle
Poupart, Chargée d'Affaires, Canadian embassy to Germany; Dr.
Reiner Haseloff, Minister-President of Saxony-Anhalt; Udo Schleif,
Li-Cycle Vice-President, Spoke Operations, EMEA; Tim Johnston,
Li-Cycle Executive Chair and co-founder; Kathrin Tarricone,
Saxony-Anhalt Landtag representative, Chair of the Committee for
Economy, Energy, Climate and Environment. (Photo: Business
Wire)
Minister-President of Saxony-Anhalt, Dr. Reiner Haseloff, was in
attendance as Li-Cycle held an official opening ceremony after the
start of operations in August 2023. Li-Cycle also hosted local
dignitaries, employees, community stakeholders and partners at the
event and provided tours of the plant.
"Today is a good day for Saxony-Anhalt,” said Minister-President
of Saxony-Anhalt, Dr. Reiner Haseloff. “The new battery recycling
plant in Sülzetal is an investment with a future. It is an
important contribution to a sustainable, efficient and competitive
battery industry. The achievement of sustainability goals depends
on a circular economy. And we can and we must also make our living
spaces environmentally- and climate-friendly."
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 battery packs, without the need for
discharging, dismantling or thermal processing. One main line is
now fully operational, and a second parallel line is expected to
start operations in late 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 also
planned, the facility is expected to have a total processing
capacity of 30,000 tonnes per year, making the Germany Spoke one of
the largest in Li-Cycle’s current portfolio and one of the largest
facilities of its kind in Europe.
Sülzetal’s central location near key battery manufacturing
facilities and Li-Cycle customers, supportive industrial policy,
and local stakeholder and community support, make it an ideal
location for the Spoke facility. Germany also represents the
largest market for both battery manufacturing scrap and end-of-life
lithium-ion batteries in Europe. The Germany Spoke currently
employs approximately 60 people and will further strengthen the
region’s role in the clean technology industry.
“It was a pleasure to commemorate the official opening of
Li-Cycle’s first European Spoke alongside key stakeholders,” said
Tim Johnston, Executive Chair and co-founder of Li-Cycle. “Our
Germany Spoke strengthens our position as a leading global battery
recycling and resource recovery company and we are excited to
continue expanding globally to build local and sustainable
closed-loop battery supply chains. Our growing footprint in Europe
is helping provide an environmentally friendly source of raw
materials to support the Continent’s transition to
electrification.”
Richard Storrie, President EMEA at Li-Cycle, added: “The State
of Saxony-Anhalt is the ideal location for our first European
recycling facility, and we are delighted to celebrate this
milestone together with representatives from the region. Our first
Spoke in Europe is supporting our growing customer base in Germany,
the largest battery market on the Continent. We look forward to
continuing to work alongside the local community in Saxony-Anhalt
for our clean energy future.”
As Li-Cycle’s first Spoke facility outside North America, the
Germany Spoke reinforces Li-Cycle’s ability to deploy its highly
scalable and patent-protected technologies around the world.
Li-Cycle has additional European Spokes planned in France and
Norway. 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 Hub facilities. The Company’s first Hub
facility, in Rochester, New York State, is on track to commence
commissioning in late 2023 and will process up to 35,000 tonnes of
black mass per year. Li-Cycle has also announced plans to develop a
second Hub in Europe. Li-Cycle, in partnership with Glencore, plans
to repurpose part of the existing Glencore metallurgical complex in
Portovesme, Italy to create a new Hub facility (the “Portovesme
Hub”). Phase 1 of the Portovesme Hub is expected to start
processing black mass in the first half of 2024, enabling the
production of lithium carbonate, as well as nickel and cobalt. The
full-scale Phase 2 of the Portovesme Hub is expected to be one of
the largest sources of sustainable recycled battery materials in
Europe.
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 expectation that the Germany
Spoke will support Saxony-Anhalt’s role in fostering innovation and
pioneering sustainable solutions, and that it will reinforce
Li-Cycle’s growing position as a leading sustainable battery
recycler in Europe; the expectation that the Germany Spoke will
contribute to a sustainable, efficient and competitive battery
industry; the expected timeline for the start in operations of the
second parallel line at the Germany Spoke, the planned additional
ancillary capacity, and the expected total processing capacity of
the plant; the expectation that the Germany Spoke will further
strengthen the region’s role in the clean technology industry; the
plans for further expansion globally to build local and sustainable
closed-loop battery supply chains; the expectation that the Germany
Spoke will support Li-Cycle’s growing customer base in Germany; the
plans for additional European Spokes in France and Norway;
Li-Cycle’s plans to process the black mass it produces in its Spoke
network at its Hub facilities; the expected timeline for the
commissioning of the Rochester Hub and its expected processing
capacity; and the plans, in partnership with Glencore, for the
Portovesme Hub, including the plans for Phase 1 and Phase 2 of the
project. 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/20230927626410/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