Li-Cycle’s CEO and Co-founder Ajay Kochhar Provides Expert Insights on Electronic Waste & Battery Recycling Solutions Before the U.S. Senate Committee on Environment and Public Works
Li-Cycle’s CEO and Co-founder Ajay Kochhar Provides Expert Insights on Electronic Waste & Battery Recycling Solutions Before the U.S. Senate Committee on Environment and Public Works Yahoo Finance
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TORONTO, July 27, 2023
Li-Cycle Holdings Corp. Provides Expert Insights on Electronic Waste Recycling and Reuse
Li-Cycle Holdings Corp. (NYSE: LICY), an industry leader in lithium-ion battery resource recovery and the leading lithium-ion battery recycler in North America, is pleased to announce that its CEO and co-founder, Ajay Kochhar, provided expert insights yesterday before the United States Senate Committee on Environment and Public Works for a hearing called, “Improving Capacity for Critical Mineral Recovery through Electronic Waste Recycling and Reuse.”
Li-Cycle’s CEO and co-founder Ajay Kochhar was invited to provide expert testimony on electronic waste and battery recycling solutions before the U.S. Senate Committee on Environment and Public Works on July 26, 2023. (Photo: Business Wire)
Mr. Kochhar was invited to provide expert insights at the hearing as key industry leaders and government officials discussed the important topic of electronic waste, or e-waste, and solutions to solve for challenges presented by the transition to clean energy in North America.
“Li-Cycle was proud to have the opportunity to share our perspective on e-waste and battery recycling at the Senate Committee hearing, which is indicative of the progress the U.S. has made to solve for the substantial quantities of e-waste that both end-of-life batteries and battery manufacturers will produce in the coming years,” said Ajay Kochhar, Li-Cycle’s CEO and co-founder. “I would like to extend our gratitude and thanks to Chairman Tom Carper, Ranking Member Shelley Moore Capito and the other members of the committee and commend them for holding a hearing to exchange views on lithium-ion battery recycling and how we can mitigate challenges associated with e-waste. Li-Cycle was founded to create localized, closed-loop supply chains for battery materials to support the sustainable transition to electrification. Increasing awareness of recycling solutions is key to help address e-waste to support this transition, in addition to establishing policies and incentives to support environmentally friendly recyclers.”
Topics Discussed at the Hearing
- How Li-Cycle’s safe, sustainable, and scalable Spoke & Hub Technologies
return critical materials from lithium-ion batteries and battery manufacturing scrap back to the supply chain with up to an overall 95% recycling efficiency rate to support a circular economy. - Battery manufacturing scrap and how it is magnified by the clean energy transition, which further enhances the need for environmentally friendly recycling solutions.
- The landscape for the broader recycling industry and how the demand for post-processing and resource recovery will outstrip capacity in North America for some time.
- The significant benefits lithium-ion battery recycling can offer to support a domestic battery supply chain, including providing a valuable alternative source of materials, as well as a long-term, environmentally friendly solution to address e-waste.
- Key policy initiatives that can be taken to support the emerging lithium-ion battery recycling industry, including exploring whether there should be minimum requirements for the amount of recycled content in every domestically produced battery, and clear and consistent regulations on the movement of batteries and black mass.
Watch the full webcast of the hearing here.
Read Mr. Kochhar’s full written testimony here.
About Li-Cycle Holdings Corp.
Li-Cycle (NYSE: LICY) is a leading global lithium-ion battery resource recovery company and North America’s largest pure-play lithium-ion battery recycler, with a rapidly growing presence across Europe. The Company leverages its innovative, sustainable and patented Spoke & Hub Technologies to provide a safe, scalable, customer-centric solution to recycle all different types of lithium-ion batteries. Established in 2016, and with major customers and partners around the world, Li-Cycle recovers critical battery-grade materials to create a domestic closed-loop battery supply chain for a clean energy future. For more information, visit https://li-cycle.com/.
SDGs, Targets, and Indicators Identified in the Article
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SDG 12: Responsible Consumption and Production
- Target 12.5: By 2030, substantially reduce waste generation through prevention, reduction, recycling, and reuse.
- Indicator 12.5.1: National recycling rate, tons of material recycled.
-
SDG 7: Affordable and Clean Energy
- Target 7.2: By 2030, increase substantially the share of renewable energy in the global energy mix.
- Indicator 7.2.1: Renewable energy share in the total final energy consumption.
-
SDG 9: Industry, Innovation, and Infrastructure
- Target 9.4: By 2030, upgrade infrastructure and retrofit industries to make them sustainable, with increased resource-use efficiency and greater adoption of clean and environmentally sound technologies and industrial processes.
- Indicator 9.4.1: CO2 emission per unit of value added.
Explanation and Analysis
The article discusses Li-Cycle Holdings Corp.’s CEO providing expert insights at a Senate Committee hearing on electronic waste recycling and reuse. Based on the content of the article, the following SDGs, targets, and indicators can be identified:
SDG 12: Responsible Consumption and Production
This SDG is addressed in the article as it discusses Li-Cycle’s role in recycling lithium-ion batteries and battery manufacturing scrap to support a circular economy and reduce waste generation. Li-Cycle’s recycling process aims to achieve a recycling efficiency rate of up to 95%, contributing to responsible consumption and production.
Target 12.5: By 2030, substantially reduce waste generation through prevention, reduction, recycling, and reuse.
This target is relevant to the article as Li-Cycle’s CEO discusses the importance of recycling solutions for addressing e-waste and battery waste. By recycling lithium-ion batteries, Li-Cycle contributes to waste reduction and supports the achievement of this target.
Indicator 12.5.1: National recycling rate, tons of material recycled.
This indicator can be used to measure progress towards Target 12.5. It quantifies the amount of material recycled nationally. Li-Cycle’s recycling efforts contribute to increasing the national recycling rate of lithium-ion batteries and battery manufacturing scrap.
SDG 7: Affordable and Clean Energy
The article indirectly connects to SDG 7 as it mentions the transition to clean energy in North America. The recycling of lithium-ion batteries by Li-Cycle supports the clean energy transition by providing a sustainable solution for battery waste.
Target 7.2: By 2030, increase substantially the share of renewable energy in the global energy mix.
While not explicitly mentioned in the article, Li-Cycle’s recycling efforts indirectly contribute to increasing the share of renewable energy in the global energy mix. By recycling lithium-ion batteries, Li-Cycle supports the production and use of renewable energy technologies.
Indicator 7.2.1: Renewable energy share in the total final energy consumption.
This indicator measures the proportion of renewable energy in the total final energy consumption. While not directly related to Li-Cycle’s activities, their recycling efforts indirectly contribute to increasing the share of renewable energy by supporting the sustainable production and use of lithium-ion batteries for renewable energy storage.
SDG 9: Industry, Innovation, and Infrastructure
The article indirectly connects to SDG 9 as it discusses Li-Cycle’s innovative and sustainable Spoke & Hub Technologies for lithium-ion battery recycling. Li-Cycle’s recycling process contributes to upgrading infrastructure and adopting clean and environmentally sound technologies.
Target 9.4: By 2030, upgrade infrastructure and retrofit industries to make them sustainable, with increased resource-use efficiency and greater adoption of clean and environmentally sound technologies and industrial processes.
This target is relevant to the article as Li-Cycle’s recycling process represents an upgrade in infrastructure for battery recycling and promotes the adoption of clean and environmentally sound technologies. By recycling lithium-ion batteries, Li-Cycle contributes to making the battery industry more sustainable.
Indicator 9.4.1: CO2 emission per unit of value added.
This indicator measures the carbon dioxide emissions per unit of value added in industries. While not explicitly mentioned in the article, Li-Cycle’s recycling efforts indirectly contribute to reducing CO2 emissions by promoting the circular economy and reducing the need for new battery production.
Table: SDGs, Targets, and Indicators
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 12: Responsible Consumption and Production | Target 12.5: By 2030, substantially reduce waste generation through prevention, reduction, recycling, and reuse. | Indicator 12.5.1: National recycling rate, tons of material recycled. |
| SDG 7: Affordable and Clean Energy | Target 7.2: By 2030, increase substantially the share of renewable energy in the global energy mix. | Indicator 7.2.1: Renewable energy share in the total final energy consumption. |
| SDG 9: Industry, Innovation, and Infrastructure | Target 9.4: By 2030, upgrade infrastructure and retrofit industries to make them sustainable, with increased resource-use efficiency and greater adoption of clean and environmentally sound technologies and industrial processes. | Indicator 9.4.1: CO2 emission per unit of value added. |
Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.
Source: finance.yahoo.com
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