Li-Cycle signs MOU with EVE Energy on battery recycling

The Canadian battery recycler Li-cycle has signed an MOU with the Chinese battery manufacturer EV Energy on recycling solutions for lithium-ion battery materials in North America as well as recycling production scrap in the battery maker's upcoming plants in Hungary and Malaysia.

EVE Energy was the tenth largest battery maker in the world and sixth largest in China in 2022. Today the company's production is concentrated to China where the company have an agreement with the large Chinese recycler GEM on providing battery production scrap from which GEM is reproducing new cathode materials.

In North America EVE Energy has a sales office and is in the process of setting up an R&D facility. The plants in Hungary and Malaysia, both announced late in the first half of 2023, are set to come on line around 2026.

For Li-Cycle the agreement would be important not least in Malaysia where it would men a important step into the Asian market alongside the agreement company has with the Vietnamese battery producer VinES which is producing packs for its sister company VinFast and is building a battery plant with Gotion Hi-Tech. Under this agreement Li-Cycle might build a pre-processing facility in Vietnam which potentially could be used also for the materials generated from EVE Energy's Malaysia plant.