Li-Cycle's 2024 Highlights: A Glimpse into the Future of Battery Recycling

Li-Cycle Holdings Corp. (NYSE: LICY), a leading global lithium-ion battery resource recovery company, has released preliminary commercial and operational highlights for 2024. The company's impressive performance in the past year provides valuable insights into the growing demand for sustainable battery recycling solutions and the potential for significant growth in the industry.

In 2024, Li-Cycle continued to gain commercial traction, bolstering its position as a preferred lithium-ion battery recycling partner. The company's largest customers comprise leading global battery supply chain companies, including EV OEMs, battery manufacturers, miners, and raw material buyers. Notably, the largest source of the Company's battery feedstock in 2024 was a U.S.-headquartered, vertically integrated EV and battery manufacturer with a substantial global EV market share. Throughout the year, Li-Cycle supported approximately 13 prominent EV manufacturers and approximately 15 key battery cell and material producers with its sustainable recycling services.

Li-Cycle's Rochester Hub and Spoke operations also made significant progress in 2024. The company produced approximately 5,370 tonnes of black mass and equivalents in full-year 2024, with 1,200 tonnes in Q4. The company is prioritizing securing a full financing package to restart the Rochester Hub construction and meet requirements for the $475 million DOE loan facility. Additionally, Li-Cycle is focusing on optimizing its Spoke performance to establish a financially accretive network.

Li-Cycle's 2024 performance highlights the growing demand for sustainable battery recycling solutions and the company's strong position within the industry. The company's ability to secure a major U.S.-based EV manufacturer as its primary feedstock source demonstrates market validation and a strong position within the industry. Furthermore, Li-Cycle's relationships with 13 EV manufacturers and 15 battery producers provide a robust customer base, indicating a promising future for the company.

In conclusion, Li-Cycle's preliminary commercial and operational highlights for 2024 showcase the company's strong performance and growth potential in the battery recycling industry. With a robust customer base, strategic partnerships, and a focus on optimizing its operations, Li-Cycle is well-positioned to capitalize on the growing demand for sustainable battery recycling solutions. As the world transitions towards a more electrified future, the need for efficient and sustainable battery recycling will only continue to grow, presenting significant opportunities for Li-Cycle and the broader battery recycling industry.