Exclusive: Washington seals $475 million loan for battery recycler Li-Cycle ahead of Trump’s arrival (Reuters)

November 07, 2024

Original article published via Reuters

The U.S. Department of Energy on Thursday finalized a $475 million loan for Li-Cycle Holdings (LICY.N), opens new tab, giving the metals recycler a financial lifeline to build a New York battery processing facility seen as key to outgoing President Joe Biden’s vision for a domestic electric vehicle supply chain.

The long-awaited loan, which is $100 million higher than provisionally announced early last year, will keep the Glencore-backed (GLEN.L), opens new tab company alive as it works to expand the recycling of batteries that are increasingly powering Americans’ everyday lives, ranging from everyday electronics to EVs.

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