Another high-profile green energy project, backed by a massive taxpayer-funded loan, is on the brink of collapse—sparking flashbacks to the infamous Solyndra debacle under former President Barack Obama.
The Biden administration’s aggressive push to electrify America—everything from cars to lawnmowers—has led to a rush of federal dollars pouring into companies promising to “save the planet.” One of those companies, Li-Cycle Holdings, now finds itself teetering on the edge of financial ruin after receiving a staggering $375 million loan from the U.S. Department of Energy.
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The deal, greenlit just two days after the 2024 election, raised immediate red flags among critics. The timing alone suggested a last-minute scramble to funnel funds before the return of President Donald Trump, who has long been a vocal opponent of reckless climate spending.
Li-Cycle, a Canadian-based firm that vowed to recycle 95% of lithium-ion batteries, was promoted as a cornerstone of Biden’s eco-revolution. But its recent financial disclosures tell a far different story.
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