Li-Cycle went public via a SPAC merger with Carnelian Energy-backed Peridot Acquisition in a $1.7bn deal.

Li-Cycle, a provider of recycling services, went public via a SPAC merger with Carnelian Energy-backed Peridot Acquisition, a special purpose acquisition company, in a $1.7bn deal. “Consummation of our business combination with Peridot marks a significant milestone for Li-Cycle. Peridot’s support of our mission to close the battery supply chain loop has been instrumental, and we look forward to our ongoing partnership with their team. We are well-positioned to benefit from macroeconomic tailwinds as we scale our efficient and proven commercial lithium-ion recycling technology to grow in lockstep with our customers. As the electric vehicle revolution continues to ramp up, we believe our technology will be critical for supporting the growth of e-mobility globally, while ensuring sustainability and resource efficiency," Ajay Kochhar, Li-Cycle Co-Founder, President and CEO.