Li-Cycle Holdings Corp (NYSE:LICY) Q3 2024 Results Conference Call November 7, 2024 4:30 PM ET

Company Participants

Louie Diaz - Vice President, Investor Relations
Ajay Kochhar - President and Chief Executive Officer
Craig Cunningham - Chief Financial Officer

Operator

Hello, everyone, and welcome to the Li-Cycle Holdings Corp. Q3 2024 Financial Results. My name is Charlie, and I'll be coordinating the call today. [Operator Instructions]

I will now hand over to our host, Louie Diaz of Li-Cycle, to begin. Louie, please go ahead.

Louie Diaz

Thank you, operator. Good afternoon, and thank you, everyone, for joining us for Li-Cycle's business update and review of unaudited financial results for the 3-month period ended September 30, 2024. We will start today with formal remarks from Ajay Kochhar, President and Chief Executive Officer; and Craig Cunningham, Chief Financial Officer. We will then follow with a Q&A session.

Ahead of this call, Li-Cycle issued a press release and a presentation, which can be found in the Investor Relations section of our website at investors.li-cycle.com. On this call, management will be making statements based on current expectations, plans, estimates and assumptions, which are subject to significant risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Li-Cycle.

Actual results could differ materially from our forward-looking statements if any of our key assumptions are incorrect, including because of the factors discussed in today's press release, during this conference call or in our past reports and filings with the U.S. Securities and Exchange Commission and the Ontario Securities Commission in Canada. These documents can be found on our website at investors.li-cycle.com.

We do not undertake any duty to update any forward-looking statements, whether written or oral, made during this call or from time to time to reflect new information, future events or otherwise, except as required. These forward-looking statements should not be relied upon as representing Li-Cycle's assessments as of any date subsequent to the date of this call.

With that, I'm pleased to turn the call over to Ajay.

Ajay Kochhar

Thank you, Louie, and good afternoon. Starting on Slide 3. We are excited to announce that we have closed an agreement with the U.S. Department of Energy for a loan of up to $475 million, following detailed technical, market, financial and legal due diligence. This loan values an increase of $100 million over the previously announced conditional commitment of $375 million and is expected to support the development of our flagship Rochester Hub project in upstate New York.