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) 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.
Li-Cycle (NYSE: LICY) has entered a strategic commercial partnership with Glencore (LSE: GLEN), designating Li-Cycle as Glencore's preferred global lithium-ion battery recycling partner. The agreement includes Glencore's $200 million investment in Li-Cycle via a five-year convertible note, convertible at $9.95 per share. Additionally, Glencore’s Head of Recycling, Kunal Sinha, joins Li-Cycle's Board of Directors. This partnership aims to enhance sustainable supply chains for battery materials and bolster Li-Cycle's balance sheet, facilitating the development of its Spoke and Hub facilities.
Li-Cycle Holdings Corp. (NYSE: LICY) plans to release its Q2 2022 financial results on June 14, 2022, prior to market open. This report will cover the period ending April 30, 2022. Management will provide insights during a conference call and audio-only webcast at 8:30 a.m. ET on the same day. Investors can participate via dial-in numbers or through a live webcast available on the company's investor relations site.
Li-Cycle is committed to providing sustainable solutions for lithium-ion battery recycling.
Li-Cycle has launched its Arizona Spoke facility, the third in North America, capable of processing up to 10,000 tonnes of manufacturing scrap and end-of-life batteries annually. This innovative facility is the first to directly process full EV battery packs, equivalent to batteries for around 20,000 EVs each year. With a total expected capacity of 65,000 tonnes per annum by the end of 2023, Li-Cycle aims to enhance its operational recycling capabilities and provide critical battery materials as the demand for electric vehicles grows.
Li-Cycle Holdings Corp. (NYSE: LICY) has completed a $50 million investment in its common shares from LG Energy Solution, Ltd. and LG Chem, Ltd. The investment was made in two tranches: approximately $44.2 million for 4,416,960 shares at $10.00 each, and $5.8 million for 883,392 shares at $6.60 each. Following this investment, LGES and LGC now hold approximately 3% of the company's shares. This partnership emphasizes Li-Cycle's commitment to sustainable lithium-ion battery recycling.
Li-Cycle (NYSE: LICY) has partnered with Glencore to create a long-term supply agreement for lithium-ion battery materials. This collaboration aims to enhance the EV battery supply chain by integrating primary and recycled materials. Glencore will invest
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