In the News

February 17, 2021

Battery recycler Li-Cycle revealed in SPAC transaction

Li-Cycle team member wearing safety gear, sorting batteries to be shredded at Spoke
Original article published in Eminetra

Market research firm IHS Markit estimates that approximately 1.2 million tonnes of battery will end its life cycle in 2025 and 3.5 million tonnes in 2030.

Peridot, investment company-led special purpose acquisition (SPAC) carnelian Energy Capital Management raised $ 300 million in an IPO on the New York Stock Exchange in September.

SPAC is a shell company that is IPO-funded and listed by merging with a privately held company. SPACs are emerging as a popular IPO alternative for businesses to reduce regulatory scrutiny and more reliably disclose valuations and revenues.