Li-Cycle, a lithium-ion battery recovery company, and EVE Energy, a lithium-ion battery technology company, have signed an memorandum of understanding (MOU) to explore recycling solutions for lithium-ion battery materials.
The MOU framework includes steps toward exploring recycling options in the North American market and using battery manufacturing scrap from EVE’s planned lithium-ion battery cell facilities in Malaysia and Hungary. As EVE seeks to reach environmental goals through closed-loop supply solutions, Li-Cycle’s resource recovery solutions will help the company maintain a high-standard battery recycling system.
“We are excited to collaborate with EVE, a proven global leader in lithium-ion battery cell manufacturing, to provide a sustainable resource recovery solution for lithium-ion battery products and manufacturing scrap,” said Tim Johnston, co-founder and executive chair of Li-Cycle. “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.”
Lithium-ion batteries are commonly used in electric vehicles, and as demand for EV materials increases, recycling presents a viable solution to avoiding mineral shortages. End-of-life batteries still contain many valuable materials such as lithium and cobalt that may be recycled to use in new batteries.
The MOU accompanies EVE’s increased development of lithium-ion battery manufacturing on a global scale. EVE has announced plans to build its first battery manufacturing facility in Hungary, a site of expected production for a large number of EVs for a major global automaker.
“EVE Energy places great importance on expanding our presence in global markets,” said Mr. Jianhua Liu, co-founder and CEO of EVE Energy. “To better serve our international customers, we are going to construct green battery factories in Europe and Southeast Asia. To achieve this goal, we are implementing strategic initiatives such as industry chain integration, team internationalization, and the application of international operational models.”
With such expansion, the implementation of environmentally-friendly recycling practices is crucial to achieving continued, sustainable development. LiCycle’s Spoke & Hub technologies aid in minimizing greenhouse gas emissions and wastewater discharge in the recycling process, which will help EVE achieve its sustainability goals.
