Li-Cycle Holdings (NYSE: LICY) (“Li-Cycle” or the “Company”), a global lithium-ion battery resource recovery company, and EVE Energy (“EVE” or “EVE Energy”), a 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.
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.