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) plans to hold an event on February 27, 2023, to announce significant developments regarding its Rochester Hub facility, which is on track for commissioning in late 2023. This facility is poised to be the first commercial hydrometallurgical battery resource recovery plant and aims to produce recycled battery-grade lithium carbonate in North America. Key speakers will include CEO Ajay Kochhar, Senate Majority Leader Charles Schumer, and Congressman Joseph Morelle. A new video detailing the Rochester Hub's progress is also available.
Li-Cycle Holdings Corp. (NYSE: LICY) has filed its audited financial statements and Annual Report on Form 20-F for the fiscal year ending October 31, 2022. This filing includes important documents such as MD&A and certifications from the CEO and CFO. As a leader in lithium-ion battery recycling, Li-Cycle aims to address the growing demand for sustainable battery solutions. The report is accessible on the Company's website, underscoring its commitment to transparency and investor relations.
Li-Cycle Holdings Corp. (LICY) announced its financial and operational results for Q4 and full year 2022. Revenues were $3.0 million for Q4 and $13.4 million for the year, down from $4.4 million and $7.3 million in 2021. Despite higher black mass production, net loss narrowed to $33.9 million from $204.9 million year-over-year. The company maintains strong cash reserves of $578.3 million and is progressing well with its Rochester Hub, expecting commissioning by late 2023. Li-Cycle also expanded its Spoke capacity significantly and developed new commercial partnerships with key players in the battery supply chain.
Li-Cycle Holdings Corp. (NYSE: LICY) plans to release its fourth quarter and full year 2022 financial results before market open on January 30, 2023. The results will cover the period ending October 31, 2022. A conference call and audio-only webcast will be held at 8:30 a.m. Eastern Time the same day, where management will discuss the financial outcomes. Investors can join the call through domestic and international dial-in numbers, and a replay will be available on the Company's Investor Relations website.
Li-Cycle Holdings Corp. (NYSE: LICY) announced a change in its financial year-end from October 31 to December 31 to align with peer companies. The firm will report financial results for the year ended October 31, 2022 on January 30, 2023. A transition report will be filed in March 2023 covering the two-month period ending December 31, 2022. The upcoming financial year will span from January 1, 2023 to December 31, 2023. Historical financial data will be recast for better comparability in future reports, starting with the first quarter results in May 2023.
Li-Cycle (NYSE: LICY) has established a global strategic partnership with VinES, a member of Vingroup, the largest private conglomerate in Vietnam. This collaboration aims to provide advanced recycling solutions for VinES and VinFast, enhancing their sustainability efforts in the growing electric vehicle sector. With Li-Cycle's innovative Spoke & Hub Technologies™, the partnership seeks to create a closed-loop battery supply chain, reinforcing Li-Cycle’s position as a leader in the lithium-ion battery recycling market.
Li-Cycle Holdings Corp. (NYSE: LICY), a leader in lithium-ion battery recycling in North America, announced its participation in Chardan Capital Market LLC’s Disruptive Technology Leadership Series on October 20, 2022. The Company will host investor meetings and provide a related presentation on its website at investors.li-cycle.com. Li-Cycle aims to create sustainable solutions for battery waste by utilizing its innovative Spoke & Hub Technologies™, addressing the demand for critical battery materials while enhancing the recycling process.
Li-Cycle has commenced commercial operations at its Alabama Spoke in
Senate Majority Leader Charles Schumer praised Li-Cycle (NYSE: LICY) for its role in creating a sustainable battery materials supply chain in the U.S. during his visit to the company's Rochester Hub. The Hub will be a key source of battery-grade lithium carbonate, processing materials equivalent to about 225,000 EVs annually. Schumer highlighted funding from the Inflation Reduction Act and Bipartisan Infrastructure Investment and Jobs Act, aimed at enhancing domestic manufacturing and reducing costs for electric vehicle production.
Li-Cycle Holdings Corp. (NYSE: LICY) reported third-quarter results for the period ending July 31, 2022. Revenue from product sales rose to $5.4 million, a significant increase from $1.3 million in Q3 2021. However, total revenues reached $(2.0) million due to a non-cash fair market value pricing adjustment of $(7.3) million. Operating expenses surged to $32.5 million, leading to a net loss of approximately $27.5 million. The company retains $649.0 million in cash, bolstered by recent investments and financing. The construction progress at the Rochester Hub is on schedule, with commissioning expected in 2023.
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