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 represent a significant advancement in battery recycling. The system operates through two distinct phases. The Spoke facilities process whole lithium-ion batteries and manufacturing scrap through a mechanical size reduction method. This creates three main products: plastics, mixed copper/aluminum, and black mass – a concentrated powder containing critical metals like lithium, nickel, and cobalt. The process requires no high-temperature operations and generates minimal wastewater.
The Hub facilities then refine this black mass using hydrometallurgical processing to produce battery-grade materials, including lithium carbonate, nickel sulfate, and cobalt sulfate. The Rochester Hub, currently under development, will process up to 35,000 tonnes of battery materials annually when fully operational. This technology allows for processing all types of lithium-ion batteries without dismantling or discharge requirements.
Recent Projects
In 2024, Li-Cycle achieved several notable milestones. The company produced approximately 5,370 tonnes of black mass and established an exclusive recycling agreement with a luxury electric vehicle manufacturer in Germany. Additionally, Li-Cycle completed a $15 million public offering to support operational growth and technological development. The company also strengthened its partnership with VinES, enhancing its presence in the Asian market.
Investors
Li-Cycle has attracted substantial investment from prominent organizations. Glencore plc stands as a major strategic investor, contributing $200 million in 2022 and an additional $75 million in March 2024. The company went public through a merger with Peridot Acquisition Corp., supported by investors including Neuberger Berman Funds, Franklin Templeton, and Mubadala Capital. These partnerships have provided essential funding for Li-Cycle’s expansion and technological advancement.
Business Details
Location: Toronto, Ontario, Canada
Website: https://li-cycle.com
LinkedIn: https://www.linkedin.com/company/li-cycle-corp/
