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Li-Cycle continues to strengthen relationship with VinES to advance its place as a number one world recycling companion
TORONTO, ONTARIO – Media OutReach – 12 April 2023 – VinES Vitality Options (“VinES”) and Li-Cycle Holdings Corp. (“Li-Cycle”), an business chief in lithium-ion battery useful resource restoration and the main lithium-ion battery recycler in North America, are happy to announce that they’ve signed a definitive settlement (the “Settlement”) for a long-term recycling relationship. In keeping with the Settlement, from 2024, Li-Cycle will develop into VinES’ strategic and most well-liked recycling companion for VinES’ Vietnamese-sourced battery supplies.
In keeping with Li-Cycle’s technique for rising recycling capability along with buyer demand, the Settlement additional contemplates the potential development of a devoted Spoke positioned near VinES’ manufacturing web site. Additional, the potential Spoke has the chance to learn from the rising native demand for lithium-ion battery recycling options, pushed by sturdy financial progress and an rising manufacturing presence in Vietnam. An funding determination relating to the devoted Spoke facility is anticipated to be made in 2025. Within the meantime, Li-Cycle will facilitate the processing of VinES’ materials using Li-Cycle’s North American Spoke community.
“By recycling battery manufacturing scrap and used batteries into the worldwide mobility and vitality storage industries, we are able to obtain a sustainable provide chain whereas lowering environmental impacts. We imagine the strategic collaboration will strongly speed up each corporations’ missions of making a sustainable future for all,” mentioned Ms. Pham Thuy Linh, CEO of VinES.
“We’re happy to advance our collaboration with VinES and develop into its strategic and long-term recycling companion for all batteries and battery supplies generated by VinES in Vietnam,” mentioned Tim Johnston, co-founder and Govt Chair of Li-Cycle. “This Settlement helps our shared objectives of making a sustainable and closed-loop battery provide chain. It additionally advances Li-Cycle’s place because the business’s most well-liked world recycling companion as we proceed to strengthen our industrial relationships and scale our revolutionary and environmentally pleasant battery recycling applied sciences around the globe.”
To construct on a partnership first introduced in October 2022, VinES and Li-Cycle can even proceed to discover world recycling options for VinFast, the primary world electrical automobile (EV) producer in Vietnam and Southeast Asia.
VinES and VinFast are a part of Vingroup, the most important non-public conglomerate in Vietnam, and are leaders within the world motion in direction of electrified transportation. VinFast has expanded its enterprise to the North American and European markets with the goal to develop into one of many main world EV producers. VinES is an organization that focuses on the analysis, improvement, and manufacturing of superior batteries for mobility and vitality storage functions. The corporate has just lately commissioned a lithium-ion battery cell manufacturing facility in Hai Phong, Vietnam, and expects to additional develop its manufacturing capability within the nation.
Li-Cycle opened an workplace in Singapore in December 2022 to help its connectivity to the Asia market and its efforts to proceed constructing and increasing its industrial relationships with Asia-based producers.
“Our workplace in Singapore represents an necessary connection level to Asia, and we’re excited to proceed increasing Li-Cycle’s world footprint,” mentioned Dawei Li, Li-Cycle Regional President, APAC area. “We sit up for supporting VinES’ recycling wants and strengthening our industrial relationships on this necessary market.”
Hashtag: #VinES #Vingroup #lithium-ionbattery
The issuer is solely answerable for the content material of this announcement.
About VinES
VinES Vitality Options, a member of Vingroup, focuses on researching, creating, and manufacturing superior lithium ion batteries for mobility and vitality storage functions. Its battery cell, module and pack R&D and manufacturing capabilities make sure the supply of superior battery that meet the protection and high quality requirements required for EV/ESS and different vitality software functions. As well as, VinES has established partnerships with a few of the world’s main battery expertise corporations to offer full protection as a transformative vitality answer supplier. For extra info, go to 
https://vines.internet.vn/.
About Li-Cycle Holdings Corp.
Li-Cycle (NYSE: LICY) is on a mission to leverage its revolutionary Spoke & Hub Applied sciences™ to offer a customer-centric, end-of-life answer for lithium-ion batteries, whereas making a secondary provide of battery-grade supplies. Lithium-ion rechargeable batteries are more and more powering our world in automotive, vitality storage, client electronics, and different industrial and family functions. The world wants improved expertise and provide chain improvements to raised handle battery manufacturing waste and end-of-life batteries and to fulfill the quickly rising demand for essential and scarce battery-grade uncooked supplies via a closed-loop answer. For extra info, go to https://li-cycle.com/.
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