Combined offering provides the latest
lithium-ion battery recycling technology and world-class
environmental services to deliver unmatched value
Li-Cycle Corp. ("Li-Cycle" or "the Company"), an industry leader
in lithium-ion battery resource recovery and the largest
lithium-ion battery recycler in North America, today announced a
partnership with Univar Solutions OnSite Services (“Univar
Solutions”), a leader in waste management, to provide waste
management solutions for lithium-ion batteries.
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Through the partnership, Li-Cycle and Univar Solutions customers
will now benefit from a waste management solution for lithium-ion
battery waste across multiple manufacturing verticals, including
the growing North American electric vehicle manufacturing market.
The partnership will leverage Univar Solutions’ expertise in
collecting, sorting, and diverting waste on site at such facilities
with Li-Cycle becoming a key partner for responsibly managing any
lithium-ion battery waste.
"This new partnership with Univar Solutions will enable us to
deliver additional value for both new and existing customers by
providing them with total waste management 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 our
growing customer base and promote more economically and
environmentally sustainable lithium-ion battery recycling, which in
turn helps create new sources of critical materials for the
end-consumer."
Li-Cycle utilizes a commercial process for efficient recovery of
critical, finite materials from end-of-life lithium-ion batteries
through partnerships with some of the largest automotive and
battery manufacturers across the globe. Univar Solutions works at
the intersection of science and technology to help create a better
world through a focus on developing more processes, culture,
products, services and collaborations. Univar Solutions’ OnSite
Services team is an industry leader in comprehensive waste and
byproduct management programs, servicing the automotive, aerospace,
consumer electronics, and other manufacturing sectors.
"At Univar Solutions, our commitment to bringing more
sustainable solutions for a better world extends to helping our
customers and suppliers achieve their sustainability goals. We are
thrilled to partner with an industry leader like Li-Cycle and we
look forward to working together," said Stephen Molica, vice
president of Services for Univar Solutions. "We believe this
partnership will help enhance best-in-class sustainability
solutions of our OnSite Services portfolio and look forward to
further supporting our customers' important sustainability goals
using Li-Cycle's solutions."
The imperative for economically and environmentally sustainable
resource recycling is growing in lockstep with the rapid growth of
battery manufacturing and aligns with Li-Cycle’s and Univar
Solutions’ corporate social responsibilities. Li-Cycle utilizes its
proprietary Spoke & Hub Technologies™ to achieve an
industry-leading recovery rate and to produce the critical battery
materials underpinning the global growth in electric vehicle
production.
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. For more information, visit
https://li-cycle.com/.
On February 16, 2021, Li-Cycle announced its entry into a
definitive business combination agreement with Peridot Acquisition
Corp. (NYSE: PDAC) ("Peridot"). Upon the closing of the business
combination, which is expected in the third quarter of 2021, the
combined company will be named Li-Cycle Holdings Corp.
About Univar Solutions
Univar Solutions is a leading global specialty chemical and
ingredient distributor representing a premier portfolio from the
world's leading producers. With the industry's largest private
transportation fleet and North American sales force, unparalleled
logistics know-how, deep market and regulatory knowledge,
world-class formulation and recipe development, and leading digital
tools the company is well-positioned to offer tailored solutions
and value-added services to a wide range of markets, industries,
and applications. Univar Solutions is committed to helping
customers and suppliers innovate and grow together. Learn more at
UnivarSolutions.com.
ADDITIONAL INFORMATION AND WHERE TO FIND IT
In connection with the proposed transaction involving Li-Cycle
and Peridot, Li-Cycle Holdings Corp. ("Newco") has prepared and
filed with the SEC a registration statement on Form F-4 that
includes both a prospectus of Newco and a proxy statement of
Peridot (the "Proxy Statement/Prospectus"). Once effective, Peridot
will mail the Proxy Statement/Prospectus to its shareholders and
file other documents regarding the proposed transaction with the
SEC. This communication is not a substitute for any proxy
statement, registration statement, proxy statement/prospectus or
other documents Peridot or Newco may file with the SEC in
connection with the proposed transaction. INVESTORS AND SECURITY
HOLDERS ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE PROXY
STATEMENT/PROSPECTUS WHEN IT BECOMES AVAILABLE, ANY AMENDMENTS OR
SUPPLEMENTS TO THE PROXY STATEMENT/PROSPECTUS, AND OTHER DOCUMENTS
FILED BY PERIDOT OR NEWCO WITH THE SEC IN CONNECTION WITH THE
PROPOSED TRANSACTION BECAUSE THESE DOCUMENTS WILL CONTAIN IMPORTANT
INFORMATION. Investors and security holders will be able to obtain
free copies of the Proxy Statement/Prospectus and other documents
filed with the SEC by Peridot or Newco through the website
maintained by the SEC at www.sec.gov.
Investors and securityholders will also be able to obtain free
copies of the documents filed by Peridot and/or Newco with the SEC
on Peridot's website at www.peridotspac.com or by emailing
investors@li-cycle.com.
PARTICIPANTS IN THE SOLICITATION
Li-Cycle, Peridot, Newco, and certain of their respective
directors, executive officers and employees may be deemed to be
participants in the solicitation of proxies in connection with the
proposed transaction. Information regarding the persons who may,
under the rules of the SEC, be deemed participants in the
solicitation of proxies in connection with the proposed
transaction, including a description of their direct or indirect
interests, by security holdings or otherwise, is set forth in the
Proxy Statement/Prospectus. Information regarding the directors and
executive officers of Peridot is contained in Peridot's Annual
Report on Form 10-K for the year ended December 31, 2020, filed
with the SEC on March 26, 2021 and certain of its Current Reports
filed on Form 8-K. These documents can be obtained free of charge
from the sources indicated above.
NO OFFER OR SOLICITATION
This communication does not constitute an offer to sell or the
solicitation of an offer to buy any securities of Peridot or Newco
or a solicitation of any vote or approval. No offer of securities
shall be made except by means of a prospectus meeting the
requirements of Section 10 of the Securities Act of 1933, as
amended.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
Certain statements contained in this communication may be
considered forward-looking statements within the meaning of the
U.S. Private Securities Litigation Reform Act of 1995, Section 27A
of the Securities Act of 1933, as amended, and Section 21 of the
Securities Exchange Act of 1934, as amended, including statements
regarding the proposed transaction involving Li-Cycle and Peridot
and the ability to consummate the proposed transaction.
Forward-looking statements generally include statements that are
predictive in nature and depend upon or refer to future events or
conditions, and include words such as "may," "will," “should,”
“would,” “expect,” “anticipate,” “plan,” “likely”, “believe,”
“estimate,” “project,” “intend,” and other similar expressions
among others. Statements that are not historical facts are
forward-looking statements. Forward-looking statements are based on
current beliefs and assumptions that are subject to risks and
uncertainties and are not guarantees of future performance. Actual
results could differ materially from those contained in any
forward-looking statement as a result of various factors,
including, without limitation: (i) the risk that the conditions to
the closing of the proposed transaction are not satisfied,
including the failure to timely or at all obtain shareholder
approval for the proposed transaction or the failure to timely or
at all obtain any required regulatory clearances, including under
the Hart-Scott Rodino Antitrust Improvements Act; (ii)
uncertainties as to the timing of the consummation of the proposed
transaction and the ability of each of Li-Cycle and Peridot to
consummate the proposed transaction; (iii) the possibility that
other anticipated benefits of the proposed transaction will not be
realized, and the anticipated tax treatment of the combination;
(iv) the occurrence of any event that could give rise to
termination of the proposed transaction; (v) the risk that
stockholder litigation in connection with the proposed transaction
or other settlements or investigations may affect the timing or
occurrence of the proposed transaction or result in significant
costs of defense, indemnification and liability; (vi) changes in
general economic and/or industry specific conditions; (vii)
possible disruptions from the proposed transaction that could harm
Li-Cycle’s business; (viii) the ability of Li-Cycle to retain,
attract and hire key personnel; (ix) potential adverse reactions or
changes to relationships with customers, employees, suppliers or
other parties resulting from the announcement or completion of the
proposed transaction; (x) potential business uncertainty, including
changes to existing business relationships, during the pendency of
the proposed transaction that could affect Li-Cycle’s financial
performance; (xi) legislative, regulatory and economic
developments; (xii) unpredictability and severity of catastrophic
events, including, but not limited to, acts of terrorism, outbreak
of war or hostilities and any epidemic, pandemic or disease
outbreak (including COVID-19), as well as management’s response to
any of the aforementioned factors; and (xiii) other risk factors as
detailed from time to time in Peridot’s reports filed with the SEC,
including Peridot’s annual report on Form 10-K, periodic quarterly
reports on Form 10-Q, periodic current reports on Form 8-K and
other documents filed with the SEC. The foregoing list of important
factors is not exclusive. Neither Li-Cycle nor Peridot can give any
assurance that the conditions to the proposed transaction will be
satisfied. Except as required by applicable law, neither Li-Cycle
nor Peridot undertakes any obligation to revise or update any
forward-looking statement, or to make any other forward-looking
statements, whether as a result of new information, future events
or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20210720005147/en/
Li-Cycle:
Investor Relations: investors@li-cycle.com
Press: media@li-cycle.com
Univar Solutions:
Investor Relations Heather Kos +1 844-632-1060
IR@univarsolutions.com
Media Relations Dwayne Roark +1 331-777-6031
mediarelations@univarsolutions.com
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