Glencore Canada Corporation has completed the acquisition of a significant portion of Li-Cycle Holdings Corp.’s assets. The transaction was carried out as part of a credit bid and the assumption of certain liabilities. The purchase agreement was signed in May 2025.
According to the company, the purchase includes so-called “spoke” facilities in Arizona, Alabama, New York, Ontario, and Germany. At these locations, used batteries are processed by being dismantled and converted into black mass. The acquisition also includes the hub project in Rochester, New York, which is still under construction. There, the black mass from the various spoke facilities will undergo chemical processing to recover the metals it contains at a high level of purity. In addition to the physical facilities, Glencore acquired Li-Cycle’s intellectual property.
The Ontario Superior Court of Justice approved the acquisition, and a US federal court recognized it under Chapter 15 bankruptcy proceedings. This concludes the court-supervised sale and investor process for Li-Cycle.
