The Toronto-based battery-recycling company said its largest facility will be across Lake Erie near General Motors’ and LG Energy Solution’s Ohio cell “mega-factory.” (The Logic)
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The Toronto-based battery-recycling company said its largest facility will be across Lake Erie near General Motors’ and LG Energy Solution’s Ohio cell “mega-factory.” (The Logic)
Talking point: Automakers are increasingly building recycling into their expansion plans, and Li-Cycle is scaling fast to capitalize on the opportunity to scoop scraps right from the assembly line. The company also reported fourth-quarter revenue of US$4.4 million, up from half a million dollars in the same period last year. Costs also spiked, with a listing fee of US$152.7 million from its August SPAC deal and US$35.8-million fair-value loss on warrants, convertible debt, and restricted-share units in the period that ended Oct. 31. As of this month, all its warrants were redeemed, and Li-Cycle said it has enough funding for new Norway and Germany plants, and an expansion of its New York hub Meanwhile, Quebec-based Lithion Recycling announced earlier this week it raised up to $125 million as part of its Series A round, and Honda is reportedly converting its Ontario plant to build hybrids.
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