The MOU sets the framework for the development of cooperation between the two companies to explore global sustainable recycling solutions for battery manufacturing scrap generated at EVE's planned lithium-ion battery cell manufacturing facilities in Malaysia and Hungary, as well as other EVE lithium-ion battery materials in the North American market. 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.
Li-Cycle, a lithium battery recycling company founded in Canada in 2016, is a leading global lithium-ion battery resource recovery company and North America’s largest pure-play lithium-ion battery recycler, with a rapidly growing presence across Europe. Li-Cycle utilizes its innovative and sustainable Spoke & Hub Technologies™ to provide used battery recycling solutions while enabling a secondary supply of key battery materials.
EVE Energy is committed to harmonious development and building a responsible and sustainable product value chain through responsible sourcing, green smart manufacturing, green transportation, and sustainable management and efficient use of resources. In order to realize the low-carbon management of the whole life cycle of batteries, EVE Energy's subsidiary Hubei Jinquan New Material Co., Ltd. develops low-carbon and environmentally friendly recycling technology for used lithium batteries.
EVE Energy also actively explores external cooperation in resource recycling, technology and market chain to build up a green supply chain of "recycled lithium battery - chemical material - battery material - power battery" for the circular economy to achieve economic benefits and embody environmental and social values. EVE Energy will continue to explore cooperation, services and manufacturing with its global industry partners and jointly build a green and sustainable development system.
In the future, EVE Energy expects to work with Li-Cycle to reuse resources in an environmentally friendly way, produce new batteries with recycled materials, establish the sustainable supply chain, and contribute to the sustainable development of mankind.