Li-Cycle Partners with Arrival to Advance EV Battery Recycling
November 29 2021 - 7:00AM
Business Wire
Li-Cycle and Arrival Share the Objective
to Create a Sustainable and Circular EV Battery Supply Chain in the
United States and Europe
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, today announced a collaboration with Arrival (NASDAQ:
ARVL), a global company that is on a mission to make air clean by
replacing all vehicles with affordable electric solutions produced
by local microfactories.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20211129005108/en/
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
also working together to improve the efficiency of the EV battery
supply chain in the U.S. and Europe.
“Ensuring end-to-end sustainability for electric vehicles is
something we are very passionate about at Arrival. This is why we
are so thrilled to partner with Li-Cycle to drive sustainability in
the EV industry through the advancement of EV lithium-ion battery
recycling,” said Deepen Somaiya, Global VP of Sustainability for
Arrival. “Arrival is changing the fundamentals of the automotive
industry with our new method for the design and production of EVs,
and we see Li-Cycle’s cutting-edge, commercial lithium-ion
recycling technology as an extension of that transformational
approach. We look forward to working together with them to create
sustainable, end-to-end solutions that will help us drive radical
impact.”
By utilizing Li-Cycle’s breakthrough, commercial lithium-ion
battery recycling technologies, end-of-life batteries from
Arrival’s EV fleets in the U.S.A and Europe can be transformed into
battery grade material that could be used in the production of new
batteries for new Arrival vehicles. Li-Cycle’s technologies will
facilitate Arrival’s ability to minimize the lifecycle impact of
batteries, improving its recycling and resource recovery
infrastructure. At the same time, Arrival will support Li-Cycle’s
ability to advance its patented technologies in line with next
generation battery technology, while also continuing to improve its
resource recovery efficiency.
“We’re excited to collaborate with Arrival to drive
technological innovation in battery recycling, while creating a
truly sustainable closed-loop battery supply chain in the EV
industry,” said Kunal Phalpher, Chief Strategy Officer of Li-Cycle.
“This strategic commercial partnership demonstrates our ability to
meet emerging new customer demands as we continue to scale our
proven, commercial 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™
to provide a customer-centric, end-of-life solution for lithium-ion
batteries, while creating a secondary supply of critical battery
materials. Lithium-ion rechargeable batteries are increasingly
powering our world in automotive, energy storage, consumer
electronics, and other industrial and household 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 rapidly growing demand for critical and scarce
battery-grade raw materials through a closed-loop solution. For
more information, visit https://li-cycle.com/.
About Arrival Arrival was founded in 2015 with a mission
to make air clean by replacing all vehicles with affordable
electric solutions - produced by local Microfactories. Six years
and over 2,000 people later, we are driving the transition to EVs
globally by creating products that are zero-emission, more
desirable, more sustainable and more equitable than ever before.
Our in-house technologies enable our radical new method of design
and production using rapidly-scalable, local Microfactories around
the world. This method facilitates cities and governments in
achieving their sustainability goals whilst also supercharging
their communities. We are a technology company, a product company,
a supply chain company, an automotive company, a mobility company,
a fintech company and a service company - all rolled into one with
a shared goal of true sustainability. This vertically integrated
business model is how we can have the radical impact our world
needs today. Arrival (NASDAQ: ARVL) is a joint stock company
governed by Luxembourg law.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of the federal securities laws, including
statements regarding the products offered by Arrival and the
markets in which it operates and Arrival’s projected future
results. These forward-looking statements generally are identified
by the words “believe,” “project,” “expect,” “anticipate,”
“estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,”
“may,” “should,” “will,” “would,” “will be,” “will continue,” “will
likely result,” and similar expressions. Such statements are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 and are based on management’s belief
or interpretation of information currently available.
Forward-looking statements are predictions, projections and other
statements about future events that are based on current
expectations and assumptions and, as a result, are subject to risks
and uncertainties. Many factors could cause actual future events to
differ materially from the forward-looking statements in this
document, including, but not limited to: (i) the impact of COVID-19
on Arrival’s business; (ii) the risk of downturns 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 collaborators are unable to successfully develop and
commercialize Arrival’s products or services, or experience
significant delays in doing so, (iv) the risk that Arrival may
never achieve or sustain profitability; (v) the risk that Arrival
experiences difficulties in managing its growth and expanding
operations, (vi) the risk that third-parties suppliers and
manufacturers are not able to fully and timely meet their
obligations; (vii) the risk that the utilization of Microfactories
will not provide the expected benefits due to, among other things,
the inability to locate appropriate buildings to use as
Microfactories, Microfactories needing a larger than anticipated
factory footprint, and the inability of Arrival to deploy
Microfactories in the anticipated time frame; (viii) the risk that
the orders that have been placed for vehicles, including the order
from UPS, are cancelled or modified; (ix) the risk of product
liability or regulatory lawsuits or proceedings relating to
Arrival’s 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 at all; and (xi)
the risk that Arrival is unable 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 Arrival’s annual report on Form 20-F filed with the U.S.
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 put undue reliance on
forward-looking statements, and Arrival assumes no obligation and
does not intend to update or revise these forward-looking
statements, whether as a result of new information, future events,
or otherwise. Arrival does not give any assurance that Arrival will
achieve its expectations.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211129005108/en/
Li-Cycle Investor Relations: investors@li-cycle.com
Press: media@li-cycle.com
Arrival pr@arrival.com
Arrival (NASDAQ:ARVL)
Historical Stock Chart
From May 2024 to Jun 2024
Arrival (NASDAQ:ARVL)
Historical Stock Chart
From Jun 2023 to Jun 2024