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.
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Li-Cycle (NYSE: LICY) has entered into a definitive agreement with VinES Energy Solutions for a long-term recycling relationship, aiming to become VinES' strategic and preferred recycling partner for lithium-ion battery materials sourced from Vietnam starting in 2024.
This agreement supports the construction of a dedicated recycling facility, or Spoke, near VinES’ manufacturing operations, expected to meet the rising local demand for battery recycling driven by economic growth in Vietnam.
Investment decisions regarding this facility are planned for 2025, while initial processing will utilize Li-Cycle’s existing North American network. Both companies are focused on promoting a sustainable supply chain and enhancing the global electrification movement.
Li-Cycle Holdings Corp. (NYSE: LICY) announced progress on its Rochester Hub, with commissioning set for late 2023. The company secured a $375 million loan from the U.S. Department of Energy, enhancing financial flexibility for expanding its Spoke network. Revenues for the two-month period ending December 31, 2022, increased to $5.9 million from $2.8 million in 2021, driven by rising black mass production. However, operating expenses rose significantly to $25.3 million, impacting net income, which fell to $1.7 million. The company is poised to expand its Spoke network in Europe, capitalizing on growing market demand.
Li-Cycle Holdings Corp. (NYSE: LICY) has announced a strategic partnership with KION, a leading provider of industrial trucks, to act as KION’s preferred global lithium-ion battery recycling partner through 2030. This partnership includes plans to develop a new Spoke facility in France, which is expected to process up to 10,000 tonnes of lithium-ion battery materials annually, with potential expansion to 25,000 tonnes. Li-Cycle, already the largest battery recycler in North America, aims to support regional demand and KION’s compliance with EU battery regulations. The new facility complements Li-Cycle's extensive Spoke network, targeting over 100,000 tonnes of capacity globally.
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Li-Cycle Holdings Corp. (NYSE: LICY) will host its 2023 annual general meeting of shareholders on April 27, 2023, at 8:30 a.m. Eastern Time, in a virtual format. Registered shareholders can join via this link. Shareholders are encouraged to vote ahead of the meeting.
Additionally, Li-Cycle has filed its Annual Report on Form 20-F for the fiscal year ending October 31, 2022. Key stakeholders can access the report and other meeting materials online. The company is also committed to environmental sustainability and will publish its first ESG Report in 2024.
Li-Cycle Holdings Corp. (NYSE: LICY) announced the nomination of Susan Alban to its Board of Directors, to be voted on at the annual meeting on April 27, 2023. Alban, currently the Chief People Officer at Renegade Partners, brings extensive experience in human resources and operations from previous roles at Uber and eBay. The changes come as Rick Findlay and Alan Levande retire from the Board, marking a shift in leadership aimed at enhancing governance and gender diversity. Li-Cycle plans to recruit an additional independent director later in 2023, targeting a 30% gender-diversity on the Board.
Li-Cycle Holdings Corp. (NYSE: LICY) is set to release its financial results for the transition period ending December 31, 2022, before the market opens on March 30, 2023. A conference call and audio-only webcast will provide insights into the results and future business outlook at 8:30 a.m. Eastern Time. Investors can participate via dial-in or listen to the live webcast on the company’s investor relations website. Li-Cycle aims to transform lithium-ion battery waste management, utilizing its Spoke & Hub Technologies to meet the growing demand for critical battery materials.
Li-Cycle Holdings Corp. (NYSE: LICY) hosted Prime Minister Justin Trudeau and European Commission President Ursula von der Leyen at its Kingston, Ontario facility. The visit highlighted Li-Cycle's role in lithium-ion battery recycling and its innovative Spoke & Hub Technologies™, which aim to support the clean energy transition in North America and Europe. With a current recycling capacity of over 50,000 tonnes per year, Li-Cycle plans to expand to 80,000 tonnes by the end of 2023. The company is also working on new facilities in Germany and Ontario, and received a $375 million loan commitment to support its Rochester Hub's development.
Li-Cycle Holdings Corp. (NYSE: LICY) has received a conditional commitment for a $375 million loan from the U.S. Department of Energy's Advanced Technology Vehicles Manufacturing program. This funding supports the development of the Rochester Hub, North America’s first commercial hydrometallurgical resource recovery facility for lithium-ion batteries. The facility aims to provide a sustainable domestic supply of battery-grade materials like lithium, nickel, and cobalt, creating approximately 270 permanent jobs. The loan's closing is anticipated in Q2 2023, reflecting the DOE's confidence in Li-Cycle’s innovative recycling technologies.