Li-Cycle Holdings Corp. (NYSE: LICY) is a sustainable lithium-ion battery resource recovery company that focuses on recycling end-of-life batteries and manufacturing by-products into high-purity lithium, nickel, cobalt, and graphite materials. Founded in 2016 and headquartered in Toronto, Ontario, the company has developed and scaled its proprietary “Spoke & Hub” technology to provide a closed-loop solution for the rapidly growing electric vehicle (EV), consumer electronics, and energy storage markets. Li-Cycle’s process begins at decentralized Spoke facilities, where mechanical pre-treatment is used to safely dismantle and de-energize battery streams, producing intermediate materials known as “black mass.” These concentrates are then shipped to centralized Hub facilities for hydrometallurgical refining, resulting in battery-grade output suitable for new cell production.
Over the past several years, Li-Cycle has expanded its footprint across North America and Europe, operating Spoke facilities in Kingston, Ontario, and Rochester, New York, with additional Spoke sites under development in the United States and Germany. The company’s first commercial-scale Hub, located near Rochester, is designed to produce more than 10,000 tonnes of critical battery materials annually upon full ramp-up. Future plans include the construction of a second Hub in Quebec, as well as additional Spoke facilities in strategic battery supply chain locations. By colocating its infrastructure near major battery manufacturing clusters, Li-Cycle aims to reduce transportation costs and carbon emissions associated with end-of-life battery logistics.
Li-Cycle serves a diverse customer base that spans EV and automotive manufacturers, consumer electronics firms, and energy storage system providers. The company’s recycled materials meet stringent quality specifications, enabling original equipment manufacturers (OEMs) and battery cell producers to integrate these resources directly into new battery production lines. This approach not only secures a domestic supply of critical materials but also aligns with global regulatory trends emphasizing sustainability, extended producer responsibility, and circular economy principles.
Led by co-founders Tim Johnston (Chief Executive Officer) and Dr. Ajay Kochhar (President and Chief Technology Officer), Li-Cycle combines expertise in chemical engineering, materials science, and industrial operations to drive innovation in battery recycling. Johnston brings extensive experience in venture capital and cleantech development, while Kochhar holds a Ph.D. in chemical engineering and has authored numerous publications on hydrometallurgical processes. Together, the leadership team is focused on scaling the company’s platform, forging strategic partnerships throughout the battery value chain, and advancing toward its goal of becoming a global leader in sustainable battery materials recovery.
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