Original article published in The Globe and Mail
February 16, 2021 – Andrew Willis
Battery recycler Li-Cycle Corp. is raising cash for global expansion by going public on the New York Stock Exchange in a deal that values the Mississauga-based company at US$1.7-billion.
Li-Cycle repurposes worn out lithium batteries in everything from iPhones to Teslas using a patented process with low environmental impact. The five-year-old private company announced plans on Tuesday to merge with Peridot Acquisition Corp., PDAC-N +3.62% increase an NYSE-listed special acquisition corporation (SPAC). If approved by shareholders in both companies, the transaction will inject US$615-million into Li-Cycle, which counts 14 electric vehicle battery manufacturers among its 40 clients.
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