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) 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.
Li-Cycle Holdings Corp. (NYSE: LICY) is set to release its Q3 2022 financial results on September 14, 2022, before market open. The report will cover the period ended July 31, 2022. A conference call will take place at 8:30 a.m. ET on the same day to discuss the results. Investors can join via a live audio webcast or dial in using provided numbers. Li-Cycle aims to provide sustainable solutions for lithium-ion battery waste and improve supply chains for battery materials, reflecting its commitment to innovation in the sector.
Li-Cycle Holdings Corp. (NYSE: LICY), a leader in lithium-ion battery recycling, announced its inclusion in the Russell 2000® Index and Russell 3000® Index, effective June 27, 2022. This milestone highlights the company’s growth and stability since its public listing in August 2021. The annual Russell reconstitution ranks the 4,000 largest U.S. stocks by market capitalization, affecting approximately $12 trillion in assets. CEO Ajay Kochhar expressed optimism about expanding their reach within the investment community through their innovative Spoke & Hub network strategy.
Li-Cycle Holdings Corp. (NYSE: LICY) announced its upcoming investor meetings on June 21, 2022, during a non-deal roadshow with Citi, and the BMO 2022 Chemicals & Packaging Summit on June 22, 2022. An investor presentation will be accessible on the Company’s website. Li-Cycle aims to address battery manufacturing waste through its innovative Spoke & Hub Technologies™, providing solutions for end-of-life lithium-ion batteries while creating a secondary supply of critical battery materials. For more information, visit li-cycle.com.
Li-Cycle Holdings Corp. (NYSE: LICY) reported a significant increase in revenues, reaching $8.7 million for Q2 2022, compared to $0.3 million in Q2 2021. The company has completed long-term agreements with Glencore and LG, positioning itself as a preferred lithium-ion battery recycling partner. With $509.3 million in cash and a pro-forma balance of $760 million, Li-Cycle is well-positioned for its current project pipeline. Despite these positives, the net loss for the quarter widened to $20.7 million, up from $7.8 million year-over-year, mainly due to increased operating expenses.
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