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 (NYSE: LICY) has expressed support for the 'Unleashing American Energy' Executive Order signed by President Trump on January 20, 2025. The order aims to enhance domestic energy production and strengthen the U.S. energy landscape through streamlined permitting processes and reduced regulatory burdens.
The initiative aligns with Li-Cycle's mission of establishing 'urban mining' for domestic battery resources and enhancing U.S. energy independence. While the order has paused certain disbursements for 90 days, Li-Cycle maintains its commitment to working with the U.S. Department of Energy regarding its binding DOE loan facility.
The company has invested over $500 million in its current and future American operations, focusing on recycling and recovering valuable materials such as lithium, nickel, and cobalt from spent batteries and manufacturing scrap.
Li-Cycle Holdings (NYSE: LICY) has completed its previously announced underwritten public offering, raising approximately $15 million in gross proceeds. The offering consisted of 5,000,000 units and 10,000,000 pre-funded units at $1.00 and $0.99999 per unit, respectively.
Each unit includes one common share and two warrants (Series A and B), while pre-funded units contain one pre-funded warrant and two warrants. Series A warrants expire in eight months, while Series B warrants have a five-year term, both with an initial exercise price of $1.00 per share.
The company secured a consent agreement with Glencore Canada regarding the warrant issuance and amendments to existing notes. Li-Cycle plans to use the proceeds for working capital and general corporate purposes. The independent board members determined the company is in serious financial difficulty, utilizing financial hardship exemptions for the transaction approval.
Li-Cycle Holdings Corp. (NYSE: LICY) has announced the pricing of its underwritten public offering in the United States, expecting to raise approximately $15 million in gross proceeds. The offering consists of 15,000,000 units priced at $1.00 per unit, with each unit containing one common share, one Series A Warrant, and one Series B Warrant.
Both warrant series are exercisable at $1.00 per Common Share, with Series A Warrants expiring after eight months and Series B Warrants after five years. The company has granted Aegis Capital Corp., the sole book-running manager, a 45-day option to purchase up to 15% additional shares and warrants to cover over-allotments. The offering is expected to close around January 16, 2025.
The net proceeds will be used for working capital and general corporate purposes.
Li-Cycle Holdings (NYSE: LICY) has announced the launch of an underwritten public offering in the United States. The offering consists of units comprising common shares (or pre-funded warrants) and warrants to purchase common shares. Aegis Capital Corp will serve as the sole book-running manager and will receive a 45-day option to purchase up to 15% additional common shares and warrants to cover over-allotments.
The company plans to use the net proceeds for working capital and general corporate purposes. While the common shares trade on NYSE under 'LICY', the offered warrants and pre-funded warrants will not be listed on any exchange. The offering is subject to market conditions, with no guarantee of completion or final terms.
Li-Cycle Holdings Corp. (NYSE: LICY) has released preliminary commercial and operational highlights for 2024. The company's largest battery feedstock source was a major U.S.-based EV and battery manufacturer. Throughout 2024, Li-Cycle served approximately 13 EV manufacturers and 15 key battery cell and material producers.
The company produced about 5,370 tonnes of black mass and equivalents in 2024, with 1,200 tonnes in Q4. Li-Cycle is prioritizing securing a full financing package to restart the Rochester Hub construction and meet requirements for the $475 million DOE loan facility.
As of December 31, 2024, Li-Cycle had $22.6 million in cash and cash equivalents, down from $32.2 million in September 2024. The company raised $16.3 million through its at-the-market program, issuing 7,403,621 common shares at an average price of $2.25 per share.
Li-Cycle and Glencore are resuming collaboration to evaluate developing a new Hub facility in Portovesme, Italy. The project includes a concept and pre-feasibility study, led and funded by Glencore with Li-Cycle's technical support. The facility would utilize Glencore's existing metallurgical complex and Li-Cycle's Spoke & Hub Technologies to produce critical battery materials from recycled content.
The black mass would be supplied from Glencore's network and Li-Cycle's German facility. Following the recent $475M DOE loan facility closure, Li-Cycle continues focusing on securing complete funding to restart the Rochester Hub construction. The First A&R Glencore Convertible Note will be modified on December 9, 2024, potentially increasing Glencore's ownership to approximately 66% on a fully-diluted basis.
Li-Cycle Holdings (NYSE: LICY) reported Q3 2024 financial results, highlighting a 79% year-over-year revenue growth to $8.4 million. The company secured a $475-million DOE loan facility and completed its Rochester Hub technical review, projecting annual production of up to 8,250 tonnes of lithium carbonate and 72,000 tonnes of MHP. A 100% off-take agreement was established with Glencore for MHP production. SG&A expenses decreased by 50% to $12.9 million. The company reported a net profit of $56.5 million, compared to a loss of $30.7 million in 2023. The total capital cost for the Rochester Hub project is estimated at $960 million, with approximately $487 million remaining to complete.
Li-Cycle Holdings (NYSE: LICY) has secured a $475 million loan facility from the U.S. Department of Energy, marking a $100 million increase from the original commitment. This represents the first DOE loan for a battery resource recovery facility, supporting Li-Cycle's Rochester Hub project in upstate New York. The facility includes up to $445 million in principal and $30 million in capitalized interest, with maturity in March 2040. The Rochester Hub aims to produce up to 8,250 tonnes of lithium carbonate and 72,000 tonnes of MHP annually, with a total capital cost of approximately $960 million. The project is expected to create 825 construction jobs and 200+ permanent positions.
Li-Cycle (NYSE: LICY), a global lithium-ion battery resource recovery company, has announced it will release its third quarter 2024 financial results and provide a business update on Thursday, November 7, 2024, after market close at 4:30 p.m. Eastern Time. The company will host a conference call accessible via audio webcast and dial-in numbers for investors in Canada, U.S., and internationally. A replay of the conference call will be available on the company's Investor Relations website.
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.
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