Li-Cycle Partners with Arrival to Advance EV Battery Recycling
Li-Cycle (NYSE: LICY) announced a partnership with Arrival (NASDAQ: ARVL) to enhance the sustainability of the EV battery supply chain in the U.S. and Europe. This collaboration focuses on thought leadership and R&D for improving lithium-ion battery recycling and efficiency. Arrival aims to use Li-Cycle's innovative recycling technologies to transform end-of-life batteries from its EV fleets into new battery-grade materials. Both companies are committed to creating a closed-loop system to better manage battery lifecycle impacts and improve resource recovery.
- Collaboration aims to enhance sustainability and efficiency in the EV battery supply chain.
- Li-Cycle's recycling technologies can convert end-of-life batteries into battery-grade materials for new vehicles.
- Partnership supports both companies' goals in lithium-ion battery resource recovery.
- None.
Through this newly established collaboration,
“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
By utilizing Li-Cycle’s breakthrough, commercial lithium-ion battery recycling technologies, end-of-life batteries from Arrival’s EV fleets in the
“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
About
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.
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
View source version on businesswire.com: https://www.businesswire.com/news/home/20211129005108/en/
Investor Relations: investors@li-cycle.com
Press: media@li-cycle.com
Arrival
pr@arrival.com
Source:
FAQ
What is the collaboration between Li-Cycle and Arrival about?
How will Li-Cycle's technology benefit Arrival?
What markets are Li-Cycle and Arrival targeting for their partnership?