INTERVIEW: Li-Cycle CEO on Why It’s Time For Second Look at Battery Recycler (IPO Edge)

June 17, 2024

Original article published via IPO Edge

A number of promising developments is making the case that investors need to take a second look at Li-Cycle Holdings Corp. (NYSE: LICY), which recycles batteries and battery manufacturing scrap into new lithium-ion batteries for electric vehicles.

The company announced a $75 million infusion from metals miner Glencore Plc in March. It also has a conditional commitment for a Department of Energy loan of $375 million, and is reviewing restarting construction at its Rochester, N.Y., plant after a pause because of escalating costs.

“We firmly believe the long term fundamentals of the market are still strong,” said Li-Cycle President, CEO & Co-Founder Ajay Kochhar in an interview with IPO Edge. “We believe the recent steps we have taken, and working through this obstacle, will make our business resilient and even better positioned for long term success.”

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