Benzinga | Jul 20, 2021 08:21AM EDT

EXCLUSIVE: Peridot Acquisition Merger Partner, Li-Cycle, Announces Partnership With Univar Solutions' OnSite Services To Provide Comprehensive Lithium-ion Battery Environmental Services, Solutions, No Terms Disclosed

Li-Cycle Corp. ("Li-Cycle" or "theCompany"), an industry leader in lithium-ion battery resource recovery and thelargest lithium-ion battery recyclerLi-Cycle Corp. ("Li-Cycle" or "theCompany"), an industry leader in lithium-ion battery resource recovery and thelargest lithium-ion battery recycler in North America, today announced apartnership with Univar Solutions OnSite Services, a leader in waste management,to providewaste management solutions for lithium-ion batteries.Through the partnership, Li-Cycle and Univar Solutions customers will now benefitfrom a waste management solution for lithium-ion battery waste across multiplemanufacturing verticals, including the growing North American electric vehiclemanufacturing market. The partnership will leverage Univar Solutions' expertise incollecting, sorting, and diverting waste on site at such facilities with Li-Cyclebecoming a key partner for responsibly managing any lithium-ion battery waste."This new partnership with Univar Solutions will enable us to deliver additional valuefor both new and existing customers by providing them with total wastemanagement solutions as it pertains to lithium-ion batteries," said Ajay Kochhar, co-founder and CEO of Li-Cycle. "We are constantly looking for ways to support ourgrowing customer base and promote more economically and environmentallysustainable lithium-ion battery recycling, which in turn helps create new sources ofcritical materials for the end-consumer."Li-Cycle utilizes a commercial process for efficient recovery of critical, finitematerials from end-of-life lithium-ion batteries through partnerships with some ofthe largest automotive and battery manufacturers across the globe. UnivarSolutions works at the intersection of science and technology to help create a betterworld through a focus on developing more processes, culture, products, servicesand collaborations. Univar Solutions' OnSite Services team is an industry leader incomprehensive waste and byproduct management programs, servicing theautomotive, aerospace, consumer electronics, and other manufacturing sectors. "At Univar Solutions, our commitment to bringing more sustainable solutions for abetter world extends to helping our customers and suppliers achieve theirsustainability goals. We are thrilled to partner with an industry leader like Li-Cycleand we look forward to working together," said Stephen Molica, vice president ofServices for Univar Solutions. "We believe this partnership will help enhance best-in-class sustainability solutions of our OnSite Services portfolio and look forward to1further supporting our customers' important sustainability goals using Li-Cycle'ssolutions."The imperative for economically and environmentally sustainable resource recyclingis growing in lockstep with the rapid growth of battery manufacturing and alignswith Li-Cycle and Univar Solutions' corporate social responsibilities. Li-Cycle utilizesits proprietary Spoke & Hub Technologies(tm) to achieve an industry-leading recoveryrate and to produce the critical battery materials underpinning the global growth inelectric vehicle production.