Li-Cycle

Li-Cycle Holdings Corp., headquartered in Toronto, is a global leader in lithium-ion battery recycling. Using its patented Spoke & Hub Technologies, the company recovers up to 95% of critical materials from spent batteries, providing sustainable resources to electric vehicle manufacturers and battery producers worldwide.

Company Location

Country:

Canada

City:

Toronto

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Company Overview

Li-Cycle Holdings Corp. stands as a global leader in lithium-ion battery resource recovery and recycling. Founded in 2016 in Toronto, Canada, the company has developed efficient processes to recover valuable materials from end-of-life batteries, creating a sustainable supply chain for the battery industry. Through its operations, Li-Cycle recovers up to 95% of critical materials from spent lithium-ion batteries, converting them into high-quality resources for new battery production. The company serves approximately 13 electric vehicle manufacturers and 15 battery cell producers, establishing itself as an essential partner in the growing electric mobility sector.

Battery Technology

Li-Cycle’s patented Spoke & Hub Technologies operate in two phases: Spoke facilities mechanically process whole lithium-ion batteries and scrap into plastics, mixed copper/aluminum, and black mass without high temperatures or significant wastewater; Hub facilities use hydrometallurgical processing to refine black mass into battery-grade materials (lithium carbonate, nickel sulfate, cobalt sulfate). The developing Rochester Hub will handle up to 35,000 tonnes annually and can process all lithium-ion battery types without dismantling or discharge.

Products

Products include plastics, mixed copper/aluminum, and black mass—a concentrated powder containing critical metals—further refined into battery-grade materials such as lithium carbonate, nickel sulfate, and cobalt sulfate.

Recent Projects

In 2024, Li-Cycle produced approximately 5,370 tonnes of black mass, secured an exclusive recycling agreement with a luxury electric vehicle manufacturer in Germany, completed a $15 million public offering to support growth, and expanded its Asian market presence through a partnership with VinES.

Investors

Major strategic investor Glencore plc invested $200M in 2022 and $75M in 2024. Li-Cycle went public via a merger with Peridot Acquisition Corp., backed by Neuberger Berman Funds, Franklin Templeton, and Mubadala Capital.

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