Welcome to our dedicated page for Li-Cycle Holdings news (Ticker: LICY), a resource for investors and traders seeking the latest updates and insights on Li-Cycle Holdings stock.
Li-Cycle Holdings Corp. (NASDAQ: LICY) is a pioneering company specializing in the recovery and recycling of lithium-ion batteries. The company has developed a proprietary Spoke and Hub recycling process, which plays a vital role in the circular economy by addressing the challenges of battery waste and resource scarcity. The Spoke and Hub model is designed to efficiently process battery manufacturing scrap and end-of-life batteries, thereby producing black mass and other intermediate products at its Spokes. These materials are then further refined at the company's Hubs to recover essential raw materials such as lithium carbonate, cobalt sulphate, and nickel sulphate.
Li-Cycle’s innovative recycling process ensures the responsible disposal and re-utilization of batteries, contributing significantly to sustainability efforts and the reduction of environmental impact associated with electronic waste. The company's expertise in resource recovery is increasingly critical as the demand for rechargeable batteries grows across various sectors, including electric vehicles and renewable energy storage.
Recent Achievements and Projects:
- Expanded its operational footprint with new Spoke facilities in North America and Europe.
- Secured partnerships with major battery manufacturers and automotive companies to streamline the recycling process.
- Invested in advanced technologies to enhance the efficiency and capacity of their recycling operations.
Financially, Li-Cycle Holdings Corp. is strategically positioned to leverage the booming battery recycling market, with a robust business model that supports both revenue growth and environmental stewardship. The company continues to report significant progress in their mission to achieve a sustainable and closed-loop battery supply chain.
Li-Cycle Holdings Corp. (NYSE: LICY) has secured a 100% off-take agreement with Glencore for mixed hydroxide precipitate (MHP) production from its Rochester Hub. The company expects annual production of up to 8,250 tonnes of lithium carbonate and 72,000 tonnes of MHP. The technical review for the MHP scope has been completed, maintaining the Hub's nameplate processing capacity at 35,000 tonnes of black mass annually. The amended commercial agreements with Glencore and Traxys support progress toward finalizing DOE loan documentation, with Glencore purchasing all MHP production at market prices for contained nickel and cobalt.
Li-Cycle Holdings Corp. (NYSE: LICY), a global lithium-ion battery resource recovery company, has announced the selection of Marcum Canada LLP as its new independent auditor. The Audit Committee unanimously approved this decision, and the Board has recommended shareholders vote for Marcum's appointment. The company will reconvene its Annual General and Special Meeting of Shareholders on October 15, 2024, at 8:30 a.m. EDT to vote on this appointment and authorize the Board to fix Marcum's remuneration.
Shareholders of record as of September 10, 2024, are invited to attend the meeting via webcast. Proxy materials and voting instructions will be distributed, with the deadline for online and phone voting set for October 10, 2024, at 8:30 a.m. EDT.
Li-Cycle Holdings Corp. (NYSE: LICY) reported its Q2 2024 financial results, highlighting record quarterly revenue of $8.4 million, a 133% year-over-year increase. The company continues to work with the U.S. Department of Energy on a potential $375 million loan. Li-Cycle's largest customer in 1H 2024 was a leading U.S.-based EV and battery manufacturer. The company reduced SG&A expenses by 39% to $15.3 million due to cost-cutting initiatives. Li-Cycle is exploring financing options to increase near-term liquidity and advancing its Rochester Hub project strategy. The company's net loss improved to $8.2 million from $31.9 million in the previous year, while Adjusted EBITDA loss improved to $23.4 million from $41.3 million.
Li-Cycle Holdings Corp. (NYSE: LICY), a global leader in lithium-ion battery resource recovery, has announced its plans to release second quarter 2024 financial results and provide a business update on Thursday, August 8, 2024, before the market opens. The company will host an earnings conference call and webcast at 8:30 a.m. Eastern Time on the same day.
Investors can access the conference call via an audio-only webcast or through dial-in numbers: 1 (800) 579-2543 for domestic callers and 1 (203) 518-9814 for international callers, using the participant code LICYQ224. The webcast link and a replay of the call will be available on the company's Investor Relations website at https://investors.li-cycle.com.
Li-Cycle Holdings Corp. (NYSE: LICY) has appointed Craig Cunningham as its permanent Chief Financial Officer (CFO), effective July 20, 2024. Cunningham, who has served as interim CFO since March 2024, brings nearly two decades of experience in accounting, finance, operations, and capital markets, with a strong background in the battery materials and mining sectors. His appointment comes as Li-Cycle continues to execute key objectives, including working with the U.S. Department of Energy on financing documentation for a potential loan and reviewing the Rochester Hub project. Cunningham's experience includes roles at Electra Battery Materials and Kinross Gold , positioning him to support Li-Cycle's growth and strategic priorities in the lithium-ion battery resource recovery industry.
Li-Cycle Holdings Corp. (NYSE: LICY) has completed a share consolidation at a ratio of 8:1.
The new shares will trade under the symbol 'LICY' on the NYSE starting June 4, 2024, with a new CUSIP identifier of 50202P204.
Shareholders will not receive fractional shares; any resulting fractions will be cancelled for no consideration.
The consolidation will adjust the price and number of shares issuable under convertible securities proportionally.
This move aims to potentially increase the stock price and regain compliance with NYSE's minimum share price criteria.
Li-Cycle Holdings Corp. (NYSE: LICY) has partnered with Daimler Truck North America (DTNA) to support DTNA's circular economy approach by recycling lithium-ion batteries from DTNA's electric vehicles. This initiative aims to reduce the carbon footprint and enhance sustainability efforts. Li-Cycle's recycling technology can recover critical materials, thereby creating a closed-loop battery supply chain. The partnership focuses on repairing, remanufacturing, repurposing, and recycling to maximize battery lifespans and minimize material waste.
Li-Cycle Holdings Corp. (NYSE: LICY) has released its 2023 Sustainability Report, highlighting significant achievements and future ESG (Environmental, Social, and Governance) initiatives. The report emphasizes enhanced ESG performance metrics, zero critical safety or environmental incidents since inception, a diversion of 84% of materials from landfills, and no Scope 1 emissions from recycling processes. Additionally, the company has joined the United Nations Global Compact and set a Board gender diversity target of 30%. Li-Cycle also issued its first Modern Slavery Report, compliant with Canada's Fighting Against Forced Labour and Child Labour in Supply Chains Act.
Li-Cycle Holdings Corp. (NYSE: LICY), a global leader in lithium-ion battery resource recovery, announced that CEO and co-founder Ajay Kochhar will participate in TD Cowen’s 2nd Annual Sustainability Week conference.
The event will take place on May 22, 2024, with Mr. Kochhar scheduled for a fireside chat at 3:05 p.m. ET.
Li-Cycle Holdings Corp. (NYSE: LICY) reported its first quarter 2024 operational and financial results, highlighting collaborations with the U.S. Department of Energy, new strategic agreements with top EV companies, a $75 million investment from Glencore, restructuring for cost savings, and a cash and cash equivalents balance of $109.1 million at the end of the quarter.
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