Li-Cycle Inks Battery Recycling MoU With EVE Energy

Li-Cycle Holdings Corp LICY has signed a memorandum of understanding (MOU) with EVE Energy Co Ltd 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.

It also includes recycling collaborations on battery manufacturing scrap generated at EVE's planned lithium-ion battery cell manufacturing facilities in Malaysia and Hungary. 

The partnership will support EVE’s sustainability goals with a closed-loop supply solution. EVE is one of the world's largest lithium-ion battery cell manufacturers.

Also Read: Li-Cycle Inks Long-Term Battery Recycling Relationship With VinES; Eyes Dedicated Spoke Plant In Vietnam

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.

"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,” said co-founder and Executive Chair Tim Johnston.

Price Action: LICY shares are trading higher by 1.49% at $6.12 in premarket on the last check Tuesday.