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Li-Cycle sells Rochester Hub, other assets to Glencore
Site of Li-Cycle's Rochester Hub in Greece. (File photo by Kevin Oklobzija)
Site of Li-Cycle's Rochester Hub in Greece. (File photo by Kevin Oklobzija)
Li-Cycle sells Rochester Hub, other assets to Glencore
Li-Cycle Holdings Corp. has sold its Rochester Hub project and other assets to Glencore Canada Corp., a commodity trading and mining conglomerate and the battery recycler’s largest secured creditor.
The deal, completed through a credit bid and assumption of certain debt, includes Li-Cycle‘s site on McLaughlin Road in Greece, its operations in Germany, Arizona, Alabama, New York and Ontario, and its intellectual property portfolio. Glencore also assumed certain liabilities.
The remaining Li-Cycle entities are being wound up or remain under creditor protection in Canada and the U.S. Li-Cycle filed for Chapter 15 bankruptcy protection in May.
Construction on the Rochester Hub — a project estimated at $850 million to $1 billion — has been on hold since 2023. The site has also been the subject of lawsuits and liens from creditors.
No additional information was provided on the future of the Rochester location.
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