MISSISSAUGA, ON, Sept. 29, 2020 /PRNewswire/ -- Li-Cycle Corp. (Li-Cycle), a leading lithium-ion battery resource recovery company, today announced that it has been named to Sitra's Inspiring Circular Economy Solutions from Around the Globe ahead of the 2020 World Circular Economy Forum Online (WCEFonline). The WCEFonline, scheduled to run September 29 and 30, is a fully virtual event that will dive into why and how a circular economy can help to reboot and build resilience in the global economy.
Sitra, an innovation fund that operates as an independent public foundation directly under the Finnish government, currently studies, researches and brings together partners from different sectors in open-minded paths and reforms. Their future-oriented work is aimed at making Finland succeed as a pioneer of sustainable well-being. As an independent fund, Sitra has been commissioned with the task of probing the future and promoting qualitative and quantitative economic growth. The WCEF is an annual landmark event that brings together business leaders, policymakers, and experts to present the world's best circular economy solutions.
Ajay Kochhar and Tim Johnston co-founded Li-Cycle in 2016, with a vision to be the most sustainable, vertically integrated and globally preeminent lithium-ion battery resource recovery company. Li-Cycle is committed to providing sustainable and safe customer-centric solutions and technology to solve the global end-of-life cycle lithium-ion battery challenges, and to close the loop in the lithium-ion battery supply chain. The company provides a full-service resource recovery solution for all types of lithium-ion batteries used in electronic devices, e-mobility, electric vehicles, and energy storage.
Since its inception, the company has developed and validated Li-Cycle's Spoke & Hub technologies – patented, unique and sustainable processes that allow for the recovery of all critical materials found in lithium-ion batteries. This process is capable of producing battery-grade materials such as cobalt, lithium, and nickel at purities required for battery manufacturing. Li-Cycle's industry-leading processing technology uniquely positions the company to support the growing international movement towards a zero-carbon economy, as well as the creation of a circular economy for lithium-ion batteries. By providing the same critical materials via a resource recovery process, Li-Cycle is committed to minimizing the environmental impact of lithium-ion battery manufacturing.
"Li-Cycle is thrilled to have been recognized as one of the top 39 most inspiring circular economy solutions," said Tim Johnston, Executive Chairman and Co-Founder of Li-Cycle. "We're actively working to rapidly expand the circular supply chain as it relates to lithium-ion batteries; in fact, earlier this month we announced our first commercial lithium-ion battery recycling Hub in Rochester, New York. We believe Li-Cycle's innovative solution will be key in providing a secondary source of critical materials from spent batteries in an economic and sustainable way."
In January 2020, Li-Cycle was also named a 2020 Global Cleantech 100 Company by the Cleantech Group and was selected from 13,900 innovative companies from around the world for its contribution toward a sustainable future.
About Li-Cycle Corp.
Li-Cycle Corp. (Li-Cycle) is on a mission to leverage its innovative technology to provide a customer-centric end-of-life solution for lithium-ion batteries and create a secondary supply of critical battery materials. Lithium-ion rechargeable batteries are increasingly powering our world in automotive, energy storage, consumer electronic and other industrial and household applications. The world needs improved technology and supply chain innovations to better manage the end-of-life of these batteries, and to meet the rapidly growing demand for critical and scarce battery-grade materials through a closed-loop solution. For more information, visit Li-Cycle's website: https://li-cycle.com/