Li-Cycle (NYSE: LICY), a leading global lithium-ion battery resource recovery company, and EVE Energy have announced that they have signed a memorandum or understanding to collaborate and explore lithium-ion battery recycling solutions for EVE battery materials.

The MOU includes a framework for exploring 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. 

Using Li-Cycle's Spoke & Hub Technologies, lithium-ion batteries and battery manufacturing scrap can be recycled safely and environmentally friendly, and key battery-grade materials, including lithium, nickel, and cobalt can be recovered. The company’s overall process is eco-friendly and minimizes waste discharge, making Li-Cycle an ideal recycling partner for EVE's battery cell manufacturing capabilities.

Tim Johnston, co-founder and Executive Chair of Li-Cycle stated: “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.”

Li-Cycle 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.

Shares of Li-Cycle trade on the NYSE under the ticker symbol LICY.