Li-Cycle delays any further expansion in the near future

Li-Cycle has released its 2023 annual report, reviewing the year and providing updates for its plans going forward. Its highlights included further information on its Rochester hub, its ongoing relationship with Glencore, through a recently announced USD75 million strategic investment, and an overview of its 2023 operations. The company also confirmed previously planned expansions were to be put on hold as part of its ‘Cash Preservation Plan’.

A review of 2023

In total Li-Cycle produced over 6,800 tonnes of black mass, exceeding its initial estimates for the year. Of the black mass produced, it sold 4,300 tonnes raising USD18.3 million in revenue, however, this was offset by a net loss of USD138 million.

Li-Cycle’s plans for the future

To ensure the longevity of the business, Li-Cycle has implemented a…

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