Li-Cycle Holdings Corp. raised $75 million in a strategic investment from Glencore to improve liquidity and support future plans.

Mar 12, 2024•almost 2 years ago

Amount Raised

$75 Million

TorontoRenewable EnergyEnergy

Investors

Glencore Plc

Description

Li-Cycle Holdings Corp. announced a $75 million strategic investment from Glencore, as part of a long-term, strategic partnership to support the company's future plans and improve its liquidity position.

Company Information

Company

Li Cycle

Location

Toronto, Ontario, Canada

About

Li-Cycle (NYSE: LICY) is a leading global lithium-ion battery resource recovery company. Established in 2016, and with major customers and partners around the world, Li-Cycle’s mission is to recover critical battery-grade materials to create a domestic closed-loop battery supply chain for a clean energy future. The Company leverages its innovative, sustainable and patent-protected Spoke & Hub Technologies™ to recycle all different types of lithium-ion batteries. At our Spokes, or pre-processing facilities, we recycle battery manufacturing scrap and end-of-life batteries to produce black mass, a powder-like substance which contains a number of valuable metals, including lithium, nickel and cobalt. At our future Hubs, or post-processing facilities, we plan to process black mass to produce critical battery-grade materials, including lithium carbonate, for the lithium-ion battery supply chain.

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