Li-Cycle has finalised a loan of nearly half a million dollars to with the DOE’s Loan Programs Office (LPO) scale up its battery recycling facilities in the US, with the near-term direction of the LPO under a Trump administration likely to change.

The US Department of Energy Loan Programs Office (LPO) is continuing to work with battery recycling firm Li-Cycle on its loan application, a spokesperson told Energy-Storage.news, after Republican lawmakers questioned the LPO director’s role in granting the loan to the firm.

Li-Cycle is exploring “strategic alternatives” after pausing work on its main recycling facility in New York following soaring project costs while industry peer AquaMetals claims to Energy-Storage.news that its facility is 60% cheaper to build.

Li-Cycle, a North America-based company focused on lithium-ion battery recycling, has opened a black mass production facility in Germany.

Lithium-ion battery recycling firm Li-Cycle saw its overall revenues fall 32% in its fourth quarter, due to two separate factors related to a fall in metals prices.

Lithium-ion battery recycling specialist Li-Cycle reported US$8.7 million in revenues for the quarter ended April 30, 2022, more than double the previous quarter.

Lithium-ion battery recycler Li-Cycle has opened its third recycling facility, in Arizona.

Natural resources giant Glencore has agreed to back the Canadian battery recycler to the tune of US$200 million.

Li-Cycle has been selected as preferred battery recycling partner to LG Chem and LG Energy Solution for their North America operations.

Redwood Materials CEO JB Straubel told a US Senate hearing his company already receives approximately 6GWh of end-of-life lithium-ion batteries for recycling annually.