Glencore Acquires Li-Cycle, Taking Over Rochester Hub and Global Battery Recycling Assets

According to multiple media reports, as of August 8, 2025, Canadian battery recycling company Li-Cycle Holdings Corp. has been officially acquired by Glencore Plc, the Switzerland-based commodity trading and mining giant. The acquisition marks a significant shift in ownership for Li-Cycle, which has faced financial challenges and halted major projects in recent years.

Glencore announced that all future updates, services, and customer support related to Li-Cycle’s operations will now be managed through Glencore Battery Recycling (GBR). As reported by the Rochester Business Journal, the deal was executed through a credit bid and the assumption of certain debts, effectively transferring ownership of Li-Cycle’s key assets to Glencore Canada Corp., a subsidiary of Glencore Plc.

Industry sources confirm that the transaction includes Li-Cycle’s Rochester Hub project in Greece, New York — a facility once estimated to cost between $850 million and $1 billion — along with its sites in Germany, Arizona, Alabama, New York, and Ontario. The deal also covers Li-Cycle’s intellectual property portfolio, while Glencore has agreed to take on certain liabilities.

Li-Cycle’s Rochester Hub project has been on hold since 2023 and has faced multiple lawsuits and creditor liens. The company, once considered a rising player in the battery recycling sector, filed for Chapter 15 bankruptcy protection in May 2025. According to Canadian court records, remaining Li-Cycle entities are either in the process of being wound up or remain under creditor protection in both Canada and the United States.

At present, Glencore has not disclosed detailed plans for the future of the Rochester site, leaving the fate of the long-delayed project uncertain.

Source: Glencore, Rochester Business Journal