U.S. Senate Majority Leader Charles E. Schumer Visits Li-Cycle Rochester Hub

Li-Cycle Corp. (NYSE: LICY) (“Li-Cycle” or the “Company”), an industry leader in lithium-ion battery resource recovery and the leading lithium-ion battery recycler in North America, was pleased to host Senate Majority Leader Charles E. Schumer at the Company’s Rochester Hub within the Eastman Business Park near Rochester, New York.

Senator Schumer’s leadership was instrumental in passing the Inflation Reduction Act (IRA), which allocates more than $300 billion in funding towards energy security and the fight against climate change, including provisions to support domestic manufacturing of critical materials for electric vehicles (EVs) in the United States. Additionally, Senator Schumer provided key leadership for the Bipartisan Infrastructure Investment and Jobs Act (IIJA), which supports continued job growth in the United States.

The recently passed Acts are expected to be a further accelerator to support the increasing demand for EVs and stationary energy storage. Additionally, they are expected to reduce the cost of building new facilities to produce critical materials domestically and help bring down manufacturing costs for batteries.

During the event at the Company’s Rochester Hub facility, Senator Schumer and Li-Cycle’s CEO and co-founder Ajay Kochhar were joined by the local Li-Cycle team to recognize the benefits of the IRA and IIJA, the facility’s expected positive impact on the local communities and the greater North American lithium-ion battery supply chain.

Li-Cycle’s patented, commercial lithium-ion battery recycling technologies play a key role in supporting localized supply chains of critical battery grade materials. The Rochester Hub is expected to be the first commercial hydrometallurgical battery resource recovery facility as well as the first new significant source of battery-grade lithium carbonate production in North America. The facility is expected to process battery material that is equivalent to approximately 225,000 electric vehicles per year, which will position the Company as a leading domestic supplier of critical battery-grade materials.

“We are thrilled to have hosted Senator Schumer at our Rochester Hub facility and thank him for his leadership in sponsoring the Inflation Reduction Act and the Bipartisan Infrastructure Investment and Jobs Act, both monumental developments for a clean energy future and job growth across the United States,” said Ajay Kochhar, co-founder and CEO of Li-Cycle. “We expect that this legislation will accelerate the growth of the EV and stationary energy storage industry and we believe Senator Schumer’s visit further validates the importance of our Rochester Hub facility and the positive impact it will have for the supply of domestic critical materials.”