Li-Cycle Corp., Mississauga, Canada, an industry leader in lithium-ion battery resource recovery and the largest lithium-ion battery recycler in North America, has announced that the U.S. Patent and Trademark Office (“USPTO”) has granted it two utility patents, No. 10,919,046 and No. 10,960,403, which further strengthen Li-Cycle’s IP position in the U.S. and as a technology leader.
Li-Cycle is a technology-focused business and receiving these patents demonstrates the Company’s strong technology position in the U.S. market. The Company has a robust and growing patent portfolio, with a focus on innovation, research and development, as well as continued commercialization of its proprietary battery recycling technology.
“We are very excited to announce that the USPTO has granted us two utility patents, as these mark another significant step forward for Li-Cycle and further reinforce our IP position in the North American market and in turn, globally,” said Tim Johnston, Co-Founder and Executive Chairman of Li-Cycle. “At its core, Li-Cycle is a technology company, and we will continue to innovate as the leader in sustainable processing and recovery of critical, finite materials from lithium-ion batteries to reintroduce them back into the economy and close the supply chain loop. Technology development and commercialization will continue to remain of paramount focus for our business as we scale globally.”
These recently granted patents No. 10,919,046 and No. 10,960,403, in combination with Li-Cycle’s related, pending U.S. patent publication nos. US2020/0078796, US2021/0078013, and US2021/0078012, strengthen Li-Cycle’s intellectual property position in the United States in relation to the processing and recovery of critical, finite materials from lithium-ion batteries.
The imperative for economically and environmentally sustainable resource recovery and recycling is growing in lockstep with the rapid growth of battery manufacturing. Li-Cycle utilizes its patented Spoke & Hub Technologies™ to achieve the industry-leading recovery rate and to produce the critical battery materials underpinning the global growth in electric vehicle production. Legacy recycling technologies have largely relied on thermal operations, which can emit harmful emissions and result in lower recovery rates. Li-Cycle’s Spoke & Hub Technologies™ achieve up to 95% resource mass recovery. The Company’s two-stage battery recycling model enables customers to benefit from a safe and environmentally friendly solution for recycling all types of lithium-ion battery materials.
On February 16, 2021, Li-Cycle announced its entry into a definitive business combination agreement with Peridot Acquisition Corp. (NYSE: PDAC). Upon the closing of the business combination, which is expected in the second quarter of 2021, the combined company will be named Li-Cycle Holdings Corp. Li-Cycle intends to apply to list the common shares of the combined company on the New York Stock Exchange under the new ticker symbol, “LICY.”
About Li-Cycle Corp.
Li-Cycle is on a mission to leverage its innovative Spoke & Hub Technologies™ to provide a customer-centric, end-of-life solution for lithium-ion batteries, while creating a secondary supply of critical battery materials. Lithium-ion rechargeable batteries are increasingly powering our world in automotive, energy storage, consumer electronics, and other industrial and household applications. The world needs improved technology and supply chain innovations to better manage battery manufacturing waste and end-of-life batteries and to meet the rapidly growing demand for critical and scarce battery-grade raw materials through a closed-loop solution.