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. (NYSE: LICY) generates news centered on lithium-ion battery recycling, critical mineral recovery and developments in its Spoke & Hub Technologies™ platform. Company updates often highlight commercial agreements with electric vehicle (EV) manufacturers, battery energy storage system (BESS) partners and other battery supply chain participants, as well as progress on major projects such as the Rochester Hub in the United States and the proposed Portovesme Hub in Italy.
Investors and observers following LICY news can expect coverage of commercial partnerships, including exclusive recycling agreements with premium and high-performance EV OEMs for Li-Cycle’s Germany Spoke. The company also reports on its work with BESS providers across the U.S., where it recycles lithium-ion battery modules and manufacturing scrap and recovers black mass containing lithium, nickel and cobalt. These stories often illustrate how Li-Cycle handles challenging materials, such as damaged modules shipped as hazardous waste, and supports large-scale projects under time-sensitive conditions.
Li-Cycle’s news flow also includes capital markets and financing announcements, such as underwritten public offerings, consent and waiver agreements with Glencore related to convertible notes, and milestones tied to its loan facility with the U.S. Department of Energy. Regulatory and policy-related communications, including the company’s perspectives on initiatives like the “Unleashing American Energy” Executive Order, provide additional context on how Li-Cycle sees its role in domestic energy independence and critical mineral supply chains.
In addition, the company issues updates on strategic projects and collaborations, including the pre-feasibility study for the Portovesme Hub with Glencore and operational highlights from its Spoke network in the U.S. and Germany. For those tracking LICY, this news page offers a centralized view of developments in its recycling operations, partnerships, financing activities and listing status, including its planned move from the NYSE to the OTCQX® Best Market.
Li-Cycle Holdings (NYSE: LICY) reported Q3 2024 financial results, highlighting a 79% year-over-year revenue growth to $8.4 million. The company secured a $475-million DOE loan facility and completed its Rochester Hub technical review, projecting annual production of up to 8,250 tonnes of lithium carbonate and 72,000 tonnes of MHP. A 100% off-take agreement was established with Glencore for MHP production. SG&A expenses decreased by 50% to $12.9 million. The company reported a net profit of $56.5 million, compared to a loss of $30.7 million in 2023. The total capital cost for the Rochester Hub project is estimated at $960 million, with approximately $487 million remaining to complete.
Li-Cycle Holdings (NYSE: LICY) has secured a $475 million loan facility from the U.S. Department of Energy, marking a $100 million increase from the original commitment. This represents the first DOE loan for a battery resource recovery facility, supporting Li-Cycle's Rochester Hub project in upstate New York. The facility includes up to $445 million in principal and $30 million in capitalized interest, with maturity in March 2040. The Rochester Hub aims to produce up to 8,250 tonnes of lithium carbonate and 72,000 tonnes of MHP annually, with a total capital cost of approximately $960 million. The project is expected to create 825 construction jobs and 200+ permanent positions.
Li-Cycle (NYSE: LICY), a global lithium-ion battery resource recovery company, has announced it will release its third quarter 2024 financial results and provide a business update on Thursday, November 7, 2024, after market close at 4:30 p.m. Eastern Time. The company will host a conference call accessible via audio webcast and dial-in numbers for investors in Canada, U.S., and internationally. A replay of the conference call will be available on the company's Investor Relations website.
Li-Cycle Holdings Corp. (NYSE: LICY) has secured a 100% off-take agreement with Glencore for mixed hydroxide precipitate (MHP) production from its Rochester Hub. The company expects annual production of up to 8,250 tonnes of lithium carbonate and 72,000 tonnes of MHP. The technical review for the MHP scope has been completed, maintaining the Hub's nameplate processing capacity at 35,000 tonnes of black mass annually. The amended commercial agreements with Glencore and Traxys support progress toward finalizing DOE loan documentation, with Glencore purchasing all MHP production at market prices for contained nickel and cobalt.
Li-Cycle Holdings Corp. (NYSE: LICY), a global lithium-ion battery resource recovery company, has announced the selection of Marcum Canada LLP as its new independent auditor. The Audit Committee unanimously approved this decision, and the Board has recommended shareholders vote for Marcum's appointment. The company will reconvene its Annual General and Special Meeting of Shareholders on October 15, 2024, at 8:30 a.m. EDT to vote on this appointment and authorize the Board to fix Marcum's remuneration.
Shareholders of record as of September 10, 2024, are invited to attend the meeting via webcast. Proxy materials and voting instructions will be distributed, with the deadline for online and phone voting set for October 10, 2024, at 8:30 a.m. EDT.
Li-Cycle Holdings Corp. (NYSE: LICY) reported its Q2 2024 financial results, highlighting record quarterly revenue of $8.4 million, a 133% year-over-year increase. The company continues to work with the U.S. Department of Energy on a potential $375 million loan. Li-Cycle's largest customer in 1H 2024 was a leading U.S.-based EV and battery manufacturer. The company reduced SG&A expenses by 39% to $15.3 million due to cost-cutting initiatives. Li-Cycle is exploring financing options to increase near-term liquidity and advancing its Rochester Hub project strategy. The company's net loss improved to $8.2 million from $31.9 million in the previous year, while Adjusted EBITDA loss improved to $23.4 million from $41.3 million.
Li-Cycle Holdings Corp. (NYSE: LICY), a global leader in lithium-ion battery resource recovery, has announced its plans to release second quarter 2024 financial results and provide a business update on Thursday, August 8, 2024, before the market opens. The company will host an earnings conference call and webcast at 8:30 a.m. Eastern Time on the same day.
Investors can access the conference call via an audio-only webcast or through dial-in numbers: 1 (800) 579-2543 for domestic callers and 1 (203) 518-9814 for international callers, using the participant code LICYQ224. The webcast link and a replay of the call will be available on the company's Investor Relations website at https://investors.li-cycle.com.
Li-Cycle Holdings Corp. (NYSE: LICY) has appointed Craig Cunningham as its permanent Chief Financial Officer (CFO), effective July 20, 2024. Cunningham, who has served as interim CFO since March 2024, brings nearly two decades of experience in accounting, finance, operations, and capital markets, with a strong background in the battery materials and mining sectors. His appointment comes as Li-Cycle continues to execute key objectives, including working with the U.S. Department of Energy on financing documentation for a potential loan and reviewing the Rochester Hub project. Cunningham's experience includes roles at Electra Battery Materials and Kinross Gold , positioning him to support Li-Cycle's growth and strategic priorities in the lithium-ion battery resource recovery industry.
Li-Cycle Holdings Corp. (NYSE: LICY) has completed a share consolidation at a ratio of 8:1.
The new shares will trade under the symbol 'LICY' on the NYSE starting June 4, 2024, with a new CUSIP identifier of 50202P204.
Shareholders will not receive fractional shares; any resulting fractions will be cancelled for no consideration.
The consolidation will adjust the price and number of shares issuable under convertible securities proportionally.
This move aims to potentially increase the stock price and regain compliance with NYSE's minimum share price criteria.
Li-Cycle Holdings Corp. (NYSE: LICY) has partnered with Daimler Truck North America (DTNA) to support DTNA's circular economy approach by recycling lithium-ion batteries from DTNA's electric vehicles. This initiative aims to reduce the carbon footprint and enhance sustainability efforts. Li-Cycle's recycling technology can recover critical materials, thereby creating a closed-loop battery supply chain. The partnership focuses on repairing, remanufacturing, repurposing, and recycling to maximize battery lifespans and minimize material waste.