How Li-Cycle went from battery-recycling darling to the brink of bankruptcy

How Li-Cycle went from battery-recycling darling to the brink of bankruptcy

Li-Cycle once seemed like a leader among the startups trying to recycle electric vehicle batteries in the U.S. Now it’s mired in bankruptcy proceedings. The company’s board replaced the CEO and CFO in a decision announced May 1, when Li-Cycle publicized that it was looking for buyers. A potential deal with mining giant and lead creditor Glencore evidently had not come to fruition: Two weeks later, a Canadian bankruptcy court appointed Alvarez & …