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 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
Li-Cycle Holdings Corp. (NYSE: LICY) has announced a strategic partnership with LG Chem and LG Energy Solution to establish a closed-loop ecosystem for lithium-ion battery materials in North America. Li-Cycle will supply 20,000 tonnes of nickel to LG Chem and LG Energy over the next 10 years, sufficient to power approximately 300,000 electric vehicles. The partnership includes investments totaling $50 million in Li-Cycle common shares by LG Chem and LG Energy. This collaboration aims to meet the increasing demand for lithium-ion batteries while promoting sustainability in the battery supply chain.
Li-Cycle Holdings Corp. (NYSE: LICY) will host its 2022 Annual General and Special Meeting on April 28, 2022, at 8:30 a.m. (ET), via a virtual format. Only registered shareholders as of the March 18, 2022 record date may vote and ask questions. Meeting materials are available at ProxyVote and on Li-Cycle’s website. Additionally, Li-Cycle has filed its Annual Report on Form 20-F for the fiscal year ending October 31, 2021, available for download from the Investor section of its website.
Li-Cycle Holdings Corp. (NYSE: LICY) announced a significant 277% revenue increase to $3.8 million for Q1 2022, up from $1.0 million in Q1 2021, driven by higher black mass production and sales. The company secured key environmental permits for its Rochester Hub, North America's first hydrometallurgical battery recovery facility, set for commissioning in 2023. With $552 million in cash as of January 31, 2022, Li-Cycle is well-positioned to fund operations and expansions. Additionally, the company is advancing commercial agreements with LG Chem for nickel recycling, potentially involving a $50 million equity investment.
Li-Cycle Holdings Corp. (NYSE: LICY) is set to release its Q1 2022 financial results on March 17, 2022, before market opening. The company will discuss these results during a conference call at 8:30 a.m. ET on the same day. Interested investors can access the live call via an audio-only webcast or by dial-in. A replay will also be available on the company's Investor Relations website. Li-Cycle focuses on sustainable battery recycling through its Spoke & Hub Technologies™, addressing the growing demand for critical materials in lithium-ion batteries.
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