TechMet funded Li-Cycle, an industry leader in lithium-ion battery recycling, has entered into a definitive business combination agreement with Peridot Acquisition Corp. (NYSE: PDAC); upon closing the combined company will be renamed Li-Cycle Holdings Corp. and will be listed on the New York Stock Exchange under the new ticker symbol "LICY". See more details on the Li-Cycle website.
Brian Menell, Chairman & CEO of TechMet and Li-Cycle board member, commented "As Li-Cycle's primary funder for the first commercial scale-up plants in Canada and the US, we fully support the business combination with Peridot and the listing on NYSE. Li-Cycle now has the funding firepower to globally scale this unique and environmentally sound recycling technology. The seismic transformation of the global mobility and energy landscape represent 'once-in-a-century' investment opportunities, not least in the supply of key materials that enable this transition. Li-Cycle represents a clear winner in this supply chain."