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) has completed the redemption of its outstanding warrants as of January 26, 2022. Out of 22,999,994 warrants, only 9,678 were exercised for cash while 22,540,651 were exercised on a cashless basis, totaling 5,712,322 common shares issued. The company's share capital now comprises 168,891,877 common shares with no warrants traded on the NYSE. The redemption price for the warrants was set at $0.10 each. Li-Cycle is a leader in lithium-ion battery recycling in North America.
Li-Cycle Holdings Corp. (NYSE: LICY) reported significant financial growth for the fiscal year 2021, with revenues increasing 831% to $7.4 million. The Q4 revenue surged 836% to $4.4 million, driven by higher recycling services and product sales. The company is expanding its Spoke and Hub network, with a new facility in Ohio and the first European Spoke in Norway. Li-Cycle holds a robust cash position of $596.9 million and received a $100 million investment from Koch Strategic Platforms. Despite this growth, net losses reached approximately $226.6 million, influenced by a listing fee and fair value losses.
Li-Cycle Holdings Corp. (NYSE: LICY) announces the operation of its sixth and largest lithium-ion battery recycling Spoke facility at Ultium Cells’ mega-factory in Warren, Ohio. This facility will enhance Li-Cycle’s processing capacity by up to 15,000 tonnes per year, bringing its global capacity to 55,000 tonnes. Co-locating with Ultium Cells reduces logistics costs and enhances production efficiency, supporting a multi-year agreement to process battery manufacturing scrap. Expected completion is in early 2023, creating at least 35 new jobs and producing valuable materials like lithium, cobalt, and nickel.
Li-Cycle has announced its first European spoke in Norway, capable of processing up to 10,000 tonnes of lithium-ion batteries annually, marking a significant expansion in its recycling capabilities. The joint venture involves Morrow Batteries and ECO STOR, with Li-Cycle being the majority owner. The facility is expected to enhance the circular economy for battery production and recycling in the Nordic market. Construction is subject to regulatory approvals, with operations anticipated to begin in early 2023, complementing Norway's leadership in electric vehicle adoption.
Li-Cycle Holdings Corp. (NYSE: LICY) has appointed Richard Storrie as Regional President for the Americas, effective January 24, 2022. Storrie will manage all recycling operations and develop commercial strategies to support the company's growth. Li-Cycle has also restructured its management to enhance global operations, adding regional presidents for EMEA and APAC. Storrie, with over 26 years in the metals and mining industry, aims to expand Li-Cycle's leadership in lithium-ion battery recycling, addressing the growing demand for sustainable recycling solutions.
Li-Cycle Holdings Corp. (NYSE: LICY) will release its fourth quarter and full year 2021 financial results on January 27, 2022. The results will cover the periods ending October 31, 2021, and will be presented during a conference call at 8:30 a.m. ET. Investors can access the call through a live audio-only webcast or by dialing specified numbers. Li-Cycle is focused on enhancing lithium-ion battery recycling through its innovative Spoke & Hub Technologies™, addressing the growing demand for battery materials.
Li-Cycle Holdings Corp. (NYSE: LICY) announced the Redemption Fair Market Value for its outstanding warrants, set for redemption on January 26, 2022. Warrant holders can opt for a 'Make-Whole Exercise' before this date, receiving 0.253 common shares per warrant. The redemption price is $0.10 per warrant, with the Redemption Fair Market Value calculated at $9.45. Warrants not exercised or surrendered by the deadline will become void, entitling holders only to the redemption price. For more details, visit Li-Cycle's Investor Relations.
Li-Cycle Holdings Corp. (NYSE: LICY) announced the redemption of all outstanding warrants at a price of $0.10 each, effective January 26, 2022. This decision follows the company's determination that the reference value for its common shares met the criteria for redemption. Holders may choose to exercise their warrants for cash at $11.50 per share or opt for a cashless 'Make-Whole Exercise' conversion into common shares. Following the redemption date, unexercised warrants will be rendered void. The announcement reflects Li-Cycle's ongoing strategy in the lithium-ion battery recycling sector.
Li-Cycle (NYSE: LICY) is set to enhance its Hub facility's processing capacity by over 40%, increasing from 25,000 to 35,000 tonnes annually to meet rising lithium-ion battery recycling demand.
The Hub, located in Rochester, NY, will require an estimated capital investment of $485 million and aims to produce battery-grade nickel, cobalt, and lithium. Additionally, Li-Cycle has signed a non-binding agreement with LG for a 10-year collaboration to recycle battery materials and will receive a $50 million equity investment from LG upon agreement completion.
Li-Cycle Holdings Corp. (NYSE: LICY) announced a strategic investment of
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