Battery recycler Li-Cycle has a conditional $375 million financing commitment from the Energy Department's loan programs office.
- Why it matters: It's the latest in a suite of Biden administration loans and grants to help build a domestic supply chain for EV batteries.
- The big picture: Li-Cycle says its plant in Rochester, NY is slated to be North America's "first commercial hydrometallurgical battery resource recovery facility and the first source of recycled battery-grade lithium carbonate production."