LI-CYCLE AND EVE ENERGY LAUNCH BATTERY RECYCLING COLLABORATION

Li-Cycle and EVE Energy Co., Ltd. (“EVE” or “EVE Energy”), a leading lithium-ion battery technology company, are pleased to announce that they have signed a memorandum of understanding (“MOU”) 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, as well as battery manufacturing scrap generated at EVE’s planned lithium-ion battery cell manufacturing facilities in Malaysia and Hungary. The collaboration is also expected to support EVE’s environmental goals through a closed-loop supply solution and continue to support the global movement towards electrification. EVE is one of the world’s largest lithium-ion battery cell manufacturers, with global manufacturing facilities and customers that include global automakers.

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, which is expected to supply a major global automaker for the production of electric vehicles (“EVs”). EVE has also announced plans to build a lithium-ion battery cell manufacturing facility in Malaysia.

Li-Cycle’s patented Spoke & Hub Technologies™ enables a safe and environmentally friendly way to recycle lithium-ion batteries and battery manufacturing scrap and recover key battery-grade materials, including lithium, nickel and cobalt. Li-Cycle’s overall process includes an efficient environmental footprint, minimal direct greenhouse gas emissions, and minimal wastewater discharge, which helps position Li-Cycle’s innovative technologies as a strong recycling solution for EVE’s battery cell manufacturing capabilities.