Li-Cycle raises cost estimate for Rochester Hub project again
Li-Cycle (NYSE: LICY) on Monday raised the cost estimate for the construction of its Rochester Hub again to $960 million, even as the battery recycling company struggles with liquidity issues.The increase in cost was primarily due to the refinement of the methodology used for estimating the project budget, it said.In October, Li-Cyle paused the construction of its flagship battery recycling facility in Rochester, New York, and later said it was evaluating financing and strategic alternatives.