Read This- The $200 mil comes down the road- I think we sell. BUT they are also getting a customer w contracts... LOve This Co!
Li-Cycle, Glencore announce global strategic partnership 06:21 LICY Li-Cycle announced a strategic partnership with Glencore, a provider of primary metals for the production of EV batteries. The strategic partnership will better serve the EV battery supply chain by providing customers with an integrated approach for their primary and recycled metal needs. Li-Cycle and Glencore have executed a global feedstock supply agreement under which Glencore will supply all types of manufacturing scrap and end-of-life lithium-ion batteries to Li-Cycle. Li-Cycle and Glencore have also entered into a non-binding Term Sheet for global, long-term strategic contracts, which would complement Li-Cycle's existing off-take and marketing agreements.
Upon execution of the commercial agreements, Glencore will make a $200M investment in Li-Cycle and Glencore will have the right to nominate one board member to the Li-Cycle board. Li-Cycle has agreed to nominate Kunal Sinha, Glencore's Head of Recycling, to the Li-Cycle Board of Directors.
Li-Cycle, Glencore announce global strategic partnership 06:21 LICY Li-Cycle announced a strategic partnership with Glencore, a provider of primary metals for the production of EV batteries. The strategic partnership will better serve the EV battery supply chain by providing customers with an integrated approach for their primary and recycled metal needs. Li-Cycle and Glencore have executed a global feedstock supply agreement under which Glencore will supply all types of manufacturing scrap and end-of-life lithium-ion batteries to Li-Cycle. Li-Cycle and Glencore have also entered into a non-binding Term Sheet for global, long-term strategic contracts, which would complement Li-Cycle's existing off-take and marketing agreements.
Upon execution of the commercial agreements, Glencore will make a $200M investment in Li-Cycle and Glencore will have the right to nominate one board member to the Li-Cycle board. Li-Cycle has agreed to nominate Kunal Sinha, Glencore's Head of Recycling, to the Li-Cycle Board of Directors.