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Li-Cycle Appoints Manfred Schmidt as Commercial VP, Battery Supply for EMEA
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
management
Rhea-AI Summary
Li-Cycle Holdings Corp. (NYSE: LICY) has appointed Manfred Schmidt as Commercial VP, Battery Supply for the EMEA region, effective immediately. Mr. Schmidt brings over 20 years of experience, with a focus on enhancing battery supply customer relationships and executing the company's business development strategy. This move is seen as crucial for tapping into the growing lithium-ion battery market driven by rising electric vehicle adoption in Europe. The leadership change aims to accelerate Li-Cycle's expansion and strengthen its recycling technologies in new markets.
Positive
Appointment of Manfred Schmidt as Commercial VP expected to enhance customer relationships in EMEA.
Schmidt brings over 20 years of experience, strengthening leadership in battery supply initiatives.
Expansion into EMEA presents significant growth opportunities due to rising lithium-ion battery demand.
Negative
None.
Commercial Sales Executive with Extensive Battery Expertise to Lead Commercial Battery Supply Initiatives in the EMEA (Europe, the Middle East, and Africa) Markets
TORONTO--(BUSINESS WIRE)--
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 the appointment of Manfred Schmidt as Commercial VP, Battery Supply for Europe, the Middle East and Asia (“EMEA”), effective immediately. Focused on the EMEA markets, Mr. Schmidt will oversee Li-Cycle’s battery supply customer team, existing and new battery supply customer relationships, and execution of its business development strategy in those regions.
Manfred Schmidt (Photo: Business Wire)
Mr. Schmidt brings more than 20 years of experience with commercial business development and customer relations to his new role with Li-Cycle, having spent 14 years in the battery industry. He will support the Company’s execution of its global expansion plans as it brings its commercial lithium-ion recycling technologies to the EMEA markets. Mr. Schmidt will report to Li-Cycle’s Chief Commercial Officer (CCO), Kunal Phalpher.
"We believe the EMEA regions present a substantial opportunity for Li-Cycle due to the amount of lithium-ion battery production scrap available for recycling today, and the expected influx of end-of-life batteries in the years to come, driven by Europe’s early adoption of electric vehicles,” said Mr. Phalpher. “Manfred has extensive knowledge of the EMEA battery markets and will play an important role in supporting our efforts to bring North America’s leading advanced recycling technologies to the EMEA regions.”
“Li-Cycle continues to prove its success, both in the capability of its breakthrough lithium-ion battery recycling technologies and in its ability to execute,” said Mr. Schmidt. “I am excited to play an important part in Li-Cycle’s global rollout strategy, facilitating its ability to achieve its goal of becoming the world’s leading lithium-ion battery recycling solution while contributing to a circular economy.”
Prior to joining Li-Cycle, Mr. Schmidt served as Vice President of Sales at Voltabox AG in Germany, a system provider for electromobility in industrial applications with lithium-ion battery solutions. Previously, he was the Head of Key Account Management for Hoppecke Batterien GmbH (“Hoppecke”) in Germany, a leader in industrial batteries and energy storage solutions.
Mr. Schmidt holds his degree in Industrial Engineering from the Technical University of Darmstadt, Germany.
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/.
Forward-Looking Statements
Certain statements contained in this communication may be considered “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the U.S. Securities Act of 1993, as amended, Section 21 of the U.S. Securities Exchange Act of 1934, as amended, and applicable Canadian securities laws. Forward-looking statements may generally be identified by the use of words such as “will”, “expect”, “plan”, “potential”, “future”, “continuing” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements contain such identifying words. Forward-looking statements may include, for example, statements about Li-Cycle’s planned expansion into the EMEA regions and the anticipated benefits thereof; the future financial performance of Li-Cycle; and the fulfillment of Li-Cycle’s obligations in relation to actual or proposed contractual negotiations with third parties in the EMEA regions. These statements are based on various assumptions, whether or not identified in this communication, which Li-Cycle believe are reasonable in the circumstances. There can be no assurance that such estimates or assumptions will prove to be correct and, as a result, actual results or events may differ materially from expectations expressed in or implied by the forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Li-Cycle, and are not guarantees of future performance. These and other risks and uncertainties related to Li-Cycle’s business are described in greater detail in the section entitled "Risk Factors" in its final prospectus dated August 10, 2021 filed with the Ontario Securities Commission in Canada, the Form 20-F filed with the U.S. Securities and Exchange Commission (“SEC”), and other filings made by Li-Cycle with securities regulatory authorities. Because of these risks, uncertainties and assumptions, readers should not place undue reliance on these forward-looking statements. Actual results could differ materially from those contained in any forward-looking statement.
In addition, forward-looking statements contained in this communication reflect Li-Cycle’s expectations, plans or forecasts of future events and views as of the date of this communication. Li-Cycle anticipates that subsequent events and developments could cause Li-Cycle’s assessments, expectations, plans and forecasts to change. While Li-Cycle may elect to update these forward-looking statements at some point in the future, Li-Cycle has no intention and undertakes no obligation to do so, except as required by applicable laws. These forward-looking statements should not be relied upon as representing Li-Cycle’s assessments as of any date subsequent to the date of this communication. Li-Cycle’s forward-looking statements are expressly qualified in their entirety by this cautionary statement.
Who has been appointed as the new Commercial VP at Li-Cycle?
Manfred Schmidt has been appointed as the new Commercial VP for Battery Supply at Li-Cycle.
What is Manfred Schmidt's experience relevant to his new role?
Manfred Schmidt brings over 20 years of experience in commercial business development and customer relations, with 14 years specifically in the battery industry.
What regions will Manfred Schmidt oversee as Commercial VP?
He will oversee the EMEA region, focusing on Europe, the Middle East, and Asia.
What opportunities does Li-Cycle see in the EMEA market?
Li-Cycle sees substantial opportunities in the EMEA market due to the large amount of lithium-ion battery production scrap available for recycling and the expected influx of end-of-life batteries.
