Li-Cycle Holdings reports $138M net loss, raises concerns for Rochester Hub project amidst construction, financing, and permitting challenges.
Li-Cycle Holdings Corp., a leading lithium-ion battery resource recovery firm, reported a $138M net loss and $156.4M adjusted EBITDA loss, raising concerns about its Rochester Hub project. Despite a $75M strategic investment from Glencore, Li-Cycle faces challenges with construction costs, securing a $375M loan from the U.S. Department of Energy, and state permitting issues. The company has implemented a Cash Preservation Plan and continues to explore additional financing options.
March 18, 2024
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