Li-Cycle Holdings Corp (NYSE: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.
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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.
