Li-Cycle Holdings Corp., a leading global lithium-ion battery resource recovery company, and EVE Energy Co., Ltd., a renowned lithium-ion battery technology company, have recently signed a Memorandum of Understanding (MOU). The purpose of this agreement is to explore and develop lithium-ion battery recycling solutions specifically tailored for EVE’s battery materials.
Why It Matters
The partnership signals Li-Cycle’s growing reputation as a preferred recycling partner and a leading pure-play sustainable lithium-ion battery recycler globally. The collaboration is set to examine sustainable recycling approaches for EVE’s lithium-ion battery materials within the North American market. Moreover, it plans to handle battery manufacturing scrap generated at EVE’s forthcoming lithium-ion battery cell production facilities in Malaysia and Hungary. This move aligns with the global transition towards electrification and EVE’s ambitious environmental goals, showcasing a commitment to a closed-loop supply solution.
The partnership aims to establish a high environmental standard battery recycling system, bolstering sustainable development. EVE Energy’s CEO, Mr. Jianhua Liu, expressed the company’s keen interest in expanding its global presence and serving its international clientele through green battery factories in Europe and Southeast Asia. This will be achieved through strategic initiatives like industry chain integration, team internationalization, and the application of international operational models.
Li-Cycle’s Executive Chair, Tim Johnston, emphasized that the MOU underscores EVE’s recognition of Li-Cycle’s capability to deliver world-class lithium-ion battery recycling solutions. These solutions are characterized by high efficiency, low emissions, and minimal waste generation, supporting a sustainable lithium-ion battery ecosystem.
In line with its European expansion plans, EVE intends to set up its first European battery manufacturing facility in Hungary to supply a global automaker for electric vehicle production. Additionally, a lithium-ion battery cell manufacturing facility is also planned in Malaysia.
The collaboration will leverage Li-Cycle’s patented Spoke & Hub Technologies™, an environmentally friendly method to recycle lithium-ion batteries and battery manufacturing scrap. The process is efficient and produces minimal greenhouse gas emissions and wastewater discharge, making it a robust recycling solution for EVE’s battery cell manufacturing capabilities. The alliance of these two industry leaders exemplifies a unified commitment to a more sustainable, clean-energy future.