Li-Cycle announces $475M loan facility with Department of Energy

Li-Cycle (LICY) announced that it has entered into an agreement for a loan facility of up to $475M through the U.S. Department of Energy Loan Programs Office’s Advanced Technology Vehicles Manufacturing program. “This is the first DOE loan facility to be finalized for a lithium-ion battery materials recycling company, which further demonstrates Li-Cycle’s important role in the U.S. battery materials supply chain as a domestic supplier of recycled critical battery materials. The entry by Li-Cycle into definitive documentation with the DOE follows the DOE’s detailed technical, market, financial and legal due diligence. The DOE Loan Facility is expected to support the development of the Company’s flagship Rochester Hub project, located in upstate New York,” the company said.