Li-Cycle, the Canadian battery recycler, has been removed from the New York Stock Exchange after failing to maintain a share price above $1. The company will now trade on the OTCQX® Best Market but says the change won’t impact daily operations or SEC reporting.
Despite financial struggles, Li-Cycle secured a $475 million loan from the U.S. Department of Energy, a key step toward resuming construction on its Rochester Hub. The project, paused in late 2023 due to rising costs, is now estimated at $960 million and is expected to create over 1,000 jobs.
Li-Cycle also expanded its partnership with Glencore, which invested $75 million in the company last fall.
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