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 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.
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.
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