Lithium-ion battery recycler Li-Cycle has been bought by global mining and resource giant Glencore, according to RochesterFirst.com. The move follows Li-Cycle’s search for a buyer after halting construction of its Rochester Hub and facing ongoing financial struggles.
Glencore had previously provided a loan to the company but no new development plans were announced at the time.
The acquisition is expected to expand value and service for the companies’ joint customers, with more updates promised later.