Li-Cycle Reports Fourth Quarter Earnings

TORONTO --Li-Cycle Holdings Corp. (NYSE: LICY) ("Li-Cycle" or the “Company"), an industry leader in lithium-ion battery resource recovery and the leading LIB recycler in North America, today announced financial and operating results for its fourth quarter and year ended October 31, 2022. For the fourth quarter and year 2022, revenues were $3.0 million and $13.4 million, respectively, compared to $4.4 million and $7.3 million in the corresponding periods of 2021.

“We are pleased by our strong fourth quarter operating performance as we brought on our third-generation Arizona and Alabama Spokes, which have a first-of-its-kind full battery pack processing capabilities," said Ajay Kochhar, Li-Cycle President and Chief Executive Officer. "Also significant, at our Rochester Hub, we made meaningful progress on engineering, procurement, and construction, keeping us in-line with our targeted budget and schedule, with commissioning expected to commence in late calendar 2023."

"I am incredibly proud of what our team has accomplished in 2022, building strong momentum for our Spoke & Hub business in 2023 and beyond," added Kochhar. "We continue to competitively position Li-Cycle to be a preferred recycler and domestic supplier of battery-grade materials. We continue to grow and diversify our portfolio of commercial partnerships, capturing the benefit of a robust battery supply chain and positive regulatory support."