Why Li-Cycle Shares Are Trading Higher Today

Li-Cycle Holdings Corp LICY is trading higher Wednesday after the company announced a $100 million investment from Koch Strategic Platforms.

Li-Cycle said Koch Strategic Platforms' investment will "support the company’s rapidly expanding growth opportunities in North America, Europe and Asia." The two companies are exploring opportunities to accelerate Li-Cycle’s global growth strategies.

“KSP’s investment in Li-Cycle will further fund and accelerate the growth of our lithium-ion battery recycling footprint in North America and globally, as we scale our efficient and proven technology globally to grow in lockstep with our customers and pursue new market opportunities,” said Ajay Kochhar, co-founder and CEO of Li-Cycle.

Li-Cycle is a lithium-ion battery resource recovery and the leading lithium-ion battery recycler.

LICY Price Action: Li-Cycle was up 7.77% at $11.85 at time of publication.