Li-Cycle Strengthens IP Position Receiving Two Additional U.S. Patents (PDAC)
- S&P 500, Dow climb for third day and close at records
- Tesla (TSLA) China Numbers 'Robust' - Wedbush
- Apple (AAPL) Shares Seen as 'Attractive' as Recent Checks Show Continuously Strong Demand - Citi
- Amazon.com warehouse workers vote to reject forming union in Alabama
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
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 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) (“Peridot”). 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. For more information, visit https://li-cycle.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 firstname.lastname@example.org.
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, are 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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Spruce Point Short Porch Group (PRCH), Sees 50-70% Downside
- SEC Concerns Over SPACs Include Risks From Fees, Conflicts
- Box (BOX) Confirms Strategic Partnership with KKR (KKR), Including $500 Million KKR-led Investment