Struggling battery recycler Li-Cycle announced a partnership with Daimler Truck North America (DTNA) to recycle lithium-ion batteries from its electric vehicles.
The Canadian company said DTNA’s strategy is to repair, remanufacture, repurpose and recycle lithium-ion battery materials.
Financial details were not disclosed.
Earlier, Li-Cycle held its annual general and special meeting of shareholders on 23 May and approved the consolidation of eight shares into one new share in order to boost the share price and allow resumption of trading on the New York Stock Exchange from 4 June.
The share price fell below compliance level and trading in it was suspended by the exchange.
The company also appointed a new board chair, Jacqueline Dedo, who replaces Tim Johnston. He is due to leave the company today (31 May). It continues to battle to reduce costs at its Rochester hub recycling project.
Photo: DTNA claims up to 95% recovery rate for battery critical materials. DTNA
