Li-Cycle Holdings Corp. (LICY) has released an update.
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Li-Cycle Holdings Corp., a leader in lithium-ion battery resource recovery, reported progress in the first quarter of 2024 with a focus on securing a loan for up to $375 million from the U.S. Department of Energy and bolstering commercial ties with top European EV companies. The company also improved liquidity by closing a $75 million convertible note with Glencore and implemented a Cash Preservation Plan to save up to $10 million annually. Ending the quarter with $109.1 million in cash, Li-Cycle is reinforcing its position as a key recycler in the global battery supply chain.
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