The Ontario battery-recycling company’s stock fell more than 13 per cent, after reporting a $35.3-million quarterly net loss, up from $28.1 million in the same period last year. The company cited falling prices for nickel and cobalt, two metals it extracts from batteries, as a factor that impacted revenue. (The Logic)
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The Ontario battery-recycling company’s stock fell more than 13 per cent, after reporting a $35.3-million quarterly net loss, up from $28.1 million in the same period last year. The company cited falling prices for nickel and cobalt, two metals it extracts from batteries, as a factor that impacted revenue. (The Logic)
Talking point: The company is still in expansion mode, and announced it’s looking at sites for a potential Hungary plant to help serve its new client, Eve Energy. Li-Cycle’s quarterly operating expenses increased to $46.1 million, up from $33.3 million a year ago, as it built out its main New York facility. It recently began processing battery materials at one of its major hubs in Germany, and its plant in Rochester, N.Y., is on track to begin commissioning by the end of the year.
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