Toronto, Ontario -- A Toronto-based lithium-ion battery recycling company is actively seeking a buyers to help it avoid liquidation.
On May 1, Li-Cycle Holdings Corp., a Toronto-based lithium-ion battery recycling company, announced it is eager to sell its business or assets due to its frail financial position. The company has engaged Hilco Corporate Finance LLC to manage its sale.
Li-Cycle is known for its proprietary approach to recycling lithium-ion batteries to recover critical materials including lithium, nickel and cobalt. The company operates facilities in Arizona, Alabama and Ontario. In the year ending on March 31, 2025, it generated about $10.45 million. Despite this, it requires additional financing to meet its obligations and to pay its operational costs.
The company recently reached a deal with creditors to delay its collapse but unless it is able to secure funding or a buyout before May 5, the company will be unable to continue trading and may need to terminate its operations and face liquidation.
In March 2025, Glencore expressed interest in a potential buyout but was unable to reach an agreement with Li-Cycle’s board.
