Li-Cycle Partners with Arrival to Advance Electric Vehicle Battery Recycling


Content of the article

Li-Cycle and Arrival share the goal of creating a sustainable and circular EV battery supply chain in the United States and Europe

TORONTO – Li-Cycle Holdings Corp. (NYSE: LICY) (“Li-Cycle” or “the Company”), an industry leader in lithium-ion battery resource recovery and the leading lithium-ion battery recycler in North America, announced today a collaboration with Arrival (NASDAQ: ARVL), a global company with a mission to make air clean by replacing all vehicles with affordable electrical solutions produced by local micro-factories.

Content of the article

Through this newly established collaboration, Li-Cycle and Arrival will work together on thought leadership initiatives and R&D efforts to improve lithium-ion battery recycling, while working together to improve supply chain efficiency. EV batteries in the United States and Europe.

“Ensuring the end-to-end sustainability of electric vehicles is something we are passionate about at Arrival. This is why we are delighted to partner with Li-Cycle to drive sustainability in the electric vehicle industry through advancing lithium-ion battery recycling for electric vehicles, ”said Deepen Somaiya, Vice President global sustainability for the finish. “The arrival is changing the fundamentals of the automotive industry with our new way of designing and producing electric vehicles, and we see Li-Cycle’s advanced commercial lithium-ion recycling technology as an extension of this transformational approach. We look forward to working with them to create end-to-end sustainable solutions that will help us make a radical impact. ”

Using breakthrough commercial Li-Cycle lithium-ion battery recycling technologies, end-of-life batteries from Arrival’s electric vehicle fleets in the United States and Europe can be turned into battery-grade material that could be used. used in the production of new batteries for newcomers. Vehicles. Li-Cycle technologies will enable Arrival to minimize the impact on the battery life cycle by improving its recycling and resource recovery infrastructure. At the same time, Arrival will support Li-Cycle’s ability to advance its patented technologies in accordance with next-generation battery technology, while continuing to improve its resource recovery efficiency.

“We are excited to work with Arrival to drive technological innovation in battery recycling, while creating a truly sustainable closed-loop battery supply chain in the electric vehicle industry,” said Kunal Phalpher, Director of the Li-Cycle strategy. “This strategic business partnership demonstrates our ability to meet new and emerging customer demands as we continue to advance our proven business lithium-ion recycling technology globally. ”

About Li-Cycle Holdings Corp.
Li-Cycle (NYSE: LICY) is on a mission to leverage its innovative Spoke & Hub Technologies â„¢ to provide a customer-centric end-of-life solution for lithium-ion batteries, while creating a secondary supply of materials. battery critical. Rechargeable lithium ion batteries are increasingly powering our world in automotive, energy storage, consumer electronics, and other industrial and home applications. The world needs improved technology and supply chain innovations to better manage battery manufacturing waste and end-of-life batteries and to meet the growing demand for critical and scarce battery-grade raw materials through improved closed loop solution. For more information visit https://li-cycle.com/ .

Content of the article

About the arrival
Arrival was founded in 2015 with a mission to make the air clean by replacing all vehicles with affordable electrical solutions – produced by local micro-factories. Six years and over 2,000 people later, we’re leading the electric vehicle transition globally by creating zero-emission, more desirable, more sustainable and fairer products than ever before. Our in-house technologies enable our radical new method of design and production using rapidly scalable local micro-factories around the world. This method helps cities and governments meet their sustainability goals while supercharging their communities. We’re a technology company, a product company, a supply chain company, an automotive company, a mobility company, a fintech company and a service company, all brought together for a common goal of true sustainability. This vertically integrated business model is how we can make the radical impact our world needs today. Arrival (NASDAQ: ARVL) is a Luxembourg joint-stock company.

Forward-looking statements

This press release contains certain forward-looking statements within the meaning of federal securities laws, including statements regarding the products offered by Arrival and the markets in which it operates and the expected future results of Arrival. These forward-looking statements are generally identified by the words “believe”, “plan”, “expect”, “anticipate”, “estimate”, “intend”, “strategy”, “future”, “opportunity”. “,” Plan, “” may “,” should “,” will “,” would “,” will “,” continue “,” will probably result “and similar expressions. Such statements are made in accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are based on management’s belief or interpretation of currently available information. Forward-looking statements are predictions, projections and other statements regarding future events that are based on current expectations and assumptions and, therefore, are subject to risks and uncertainties. There are many factors that could cause actual future events to differ materially from the forward-looking statements contained herein, including, but not limited to: (i) the impact of COVID-19 on Arrival activities; (ii) the risk of downturn and the possibility of rapid change in the highly competitive industry in which Arrival operates, (iii) the risk that Arrival and its current and future associates may not be able to develop and market with success of the products or services or the experience of Arriving significant delays in this process, (iv) the risk that Arrivée will never reach or maintain profitability; (v) the risk that Arrival will encounter difficulties in managing its growth and expansion of its operations, (vi) the risk that third-party suppliers and manufacturers may not be able to fully and on time meet their obligations; (vii) the risk that the use of micro-factories will not provide the expected benefits due, among other things, to the inability to locate suitable buildings to be used as micro-factories, as micro-factories require a footprint of plant larger than expected and the inability of Arriver to deploy Micro-factories on schedule; (viii) the risk that vehicle orders placed, including the UPS order, may be canceled or amended; (ix) the risk of product liability or lawsuits or regulatory proceedings relating to Arrival products and services; and (x) the risk that Arrival will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or not at all; and (xi) the risk that Arrival may not be able to secure or protect its intellectual property. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Incoming Annual Report on Form 20-F filed with the United States Securities and Exchange Commission (the ” SEC ”) on April 30, 2021 and other documents filed by Arrival with the SEC from time to time. Readers are cautioned not to place undue reliance on forward-looking statements, and Arrival assumes no obligation and does not intend to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Arrival does not give any assurance that Arrival will meet its expectations.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20211129005108/en/

logo

Contacts

Li-Cycle
Investor relations: [email protected]
Press: [email protected]

Arrival
[email protected]

#distro


Comments are closed.