After Getting Last-Minute $375M Biden Loan, Green Energy Firm On Brink Of Bankruptcy
After getting millions in taxpayer funds in Nov. 2024, LiCycle is on the ropes.
by Alana Goodman Apr 3, 2025 in Energy, News, Politics, Waste and Fraud
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. [emphasis, links added]
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://climatechangedispatch.com/after-getting-last-minute-375m-biden-loan-green-energy-firm-on-brink-of-bankruptcy/
