Green Energy Company on Brink of Bankruptcy Months After Winning $375 Million Biden Loan
Biden's green energy loan czar personally urged Li-Cycle holdings, which recycles lithium batteries, to apply for the funds
Alana Goodman
April 2, 2025
A battery recycling company that the Biden administration urged to apply for a $375 million green energy loan in November warned investors this week that it’s at risk of going out of business.
Li-Cycle Holdings's annual report filed with the SEC on Monday states that it has "incurred significant losses since inception" and that there is "substantial doubt" about its ability to continue operating.
The Department of Energy’s Loan Programs Office finalized the loan for Li-Cycle just two days after former president Joe Biden lost the November election. It was part of a flurry of last-minute loan approvals, totaling over $20 billion, issued by the Biden loan office in the final weeks of the administration.
https://freebeacon.com/energy/green-energy-company-on-brink-of-bankruptcy-months-after-winning-375-million-biden-loan/
