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Recycling

Glencore throws Li-Cycle $75 million lifeline

by Matt Blois
March 14, 2024 | A version of this story appeared in Volume 102, Issue 8
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Most Popular in Environment

 

Glencore has given the battery recycler Li-Cycle a $75 million loan to keep the company afloat while it decides how to proceed with a New York recycling project that was paused last year. The convertible note gives Glencore the option to take a 44% stake in Li-Cycle. Several of Li-Cycle’s black mass facilities, which pulverize batteries to produce a metals-rich recycling intermediate, will serve as collateral. The sum isn’t enough to restart the New York project but buys the company time to get more cash. Li-Cycle is hoping for a $375 million Department of Energy loanto fund the project.

Chemical & Engineering News
ISSN 0009-2347
Copyright © 2024 American Chemical Society

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