The world leading Li-Cycle battery recycling specialist has become a partner of multiple title winning Formula E team DS Techeetah in readiness for the 2022 ABB FIA Formula E world championship.
Li-Cycle Holdings Corp., (NYSE: LICY), a global leader in the electric vehicle (EV) battery recycling industry and DS Techeetah announced the deal for a partnership as pre-season testing took place in Valencia this week.
Formula E World Championship has accelerated the transition towards electrification both with consumers and automotive manufacturers since its inception in 2014.
This shift towards electrification has created an inevitable requirement to address the development of battery recycling technology. Li-Cycle is a true leader in the EV battery recycling industry. This is seen through the plethora of awards the business has received in recent months including Fast Company’s Next Big Things in Tech and Canada’s Clean16, alongside their recent NYSE listing.
The partnership will see Li-Cycle branding featured prominently across the livery of the DS E-TENSE FE21, and throughout the team environment.
Li-Cycle’s relationship with DS Techeetah strengthens its position as an industry pioneer as the business continues to expand its global footprint.
“It is with a great sense of pride DS Techeetah can announce our long-term partnership with Li-Cycle,” commented Keith Smout, Chief Commercial Officer of the team.
“Our championship represents the future of electric mobility, as such has a responsibility to address the challenges and opportunities that exist around battery technology.
“Li-Cycle has addressed this area head on with truly innovative and efficient recycling technologies. This partnership is reflective of the circular economy philosophy Formula E has imparted throughout our ecosystem”
Kunal Phalpher, Chief Strategy Officer of Li-Cycle added that he and the company were “thrilled to partner with Formula E champions DS Techeetah as we reinforce our position as a global leader in the EV battery recycling industry.
“Formula E’s platform will amplify our commitment to contributing to a circular economy and advancing technologies that are critical to sustainable global electrification.
“Our collaboration will help us share our story about the importance of recovering valuable, finite resources from end-of-life batteries and bring them back to the beginning of the EV battery supply chain.”
DS Techeetah enters cars for an unchanged line-up this season as champions Antonio Felix da Costa and Jean-Eric Vergne take on the might of Nissan, Jaguar, Mercedes, Mahindra and Porsche on the global EV racing stage.