Li-Cycle Holdings Corp Stock Price, News & Analysis

Li-Cycle Holdings Corp. (NYSE: LICY), a leader in lithium-ion battery recycling, announced its inclusion in the Russell 2000® Index and Russell 3000® Index, effective June 27, 2022. This milestone highlights the company’s growth and stability since its public listing in August 2021. The annual Russell reconstitution ranks the 4,000 largest U.S. stocks by market capitalization, affecting approximately $12 trillion in assets. CEO Ajay Kochhar expressed optimism about expanding their reach within the investment community through their innovative Spoke & Hub network strategy.

Li-Cycle Holdings Corp. (NYSE: LICY) announced its upcoming investor meetings on June 21, 2022, during a non-deal roadshow with Citi, and the BMO 2022 Chemicals & Packaging Summit on June 22, 2022. An investor presentation will be accessible on the Company’s website. Li-Cycle aims to address battery manufacturing waste through its innovative Spoke & Hub Technologies™, providing solutions for end-of-life lithium-ion batteries while creating a secondary supply of critical battery materials. For more information, visit li-cycle.com.

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 $200 million in Li-Cycle, securing supply of manufacturing scrap, end-of-life batteries, and key reagents. In return, Glencore will nominate a board member. This partnership is crucial for supporting localized supply chains for battery materials in North America and Europe.

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.