Li-Cycle Holdings Corp. (LICY): History, Ownership, Mission, How It Works & Makes Money

Are you intrigued by the future of sustainable energy and resource recovery? Li-Cycle Holdings Corp. (LICY), a leading lithium-ion battery resource recovery company established in 2016, is making significant strides in creating a closed-loop battery supply chain for a cleaner future. With a 53% increase in total revenue, reaching $28.0 million in 2024, and a strategic $475 million loan facility from the U.S. Department of Energy, how is Li-Cycle positioned to revolutionize battery recycling and contribute to energy independence? Keep reading to explore Li-Cycle's history, ownership structure, mission, operational mechanics, and revenue generation strategies.

Li-Cycle Holdings Corp. (LICY) History

Li-Cycle's Founding Timeline

Year established

The company was established in 2016.

Original location

The company was originally located in Mississauga, Ontario, Canada.

Founding team members

The founding team members are Ajay Kochhar and Tim Johnston.

Initial capital/funding

Information regarding the specific initial capital or funding is not readily available in the provided search results.

Li-Cycle's Evolution Milestones

Li-Cycle's Transformative Moments

Several transformative moments have shaped the company's trajectory:

• Technological Innovation: Development of a unique two-stage recycling process (Spoke & Hub) that recovers high-purity materials.
• Going Public: The merger with Peridot Acquisition Corp. in 2021 provided significant capital, accelerating growth and expansion plans.
• Strategic Partnerships: Forming partnerships with major players in the battery and automotive industries to secure feedstock and offtake agreements.
• Operational Adjustments: The decision in late 2023 to halt expansion plans and conduct a strategic review reflected a necessary adaptation to changing market conditions and financial realities.

To gain further insights into the company's goals, see: Mission Statement, Vision, & Core Values of Li-Cycle Holdings Corp. (LICY).

Li-Cycle Holdings Corp. (LICY) Ownership Structure

Li-Cycle Holdings Corp. operates with a mixed ownership structure, including institutional and retail investors, influencing its strategic decisions and corporate governance.

Li-Cycle's Current Status

Li-Cycle Holdings Corp. is a publicly traded company, listed on the New York Stock Exchange (NYSE) under the ticker symbol LICY. This status allows the company to raise capital through the issuance of stock and subjects it to regulatory oversight and reporting requirements.

Li-Cycle's Ownership Breakdown

The ownership of Li-Cycle is distributed among various types of shareholders. Here's a general overview based on the latest available data:

Li-Cycle's Leadership

Li-Cycle's leadership team is composed of experienced individuals guiding the company's strategic direction and operations. As of April 2025, key members include:

• Ajay Kochhar: Co-Founder and Chief Executive Officer
• Tim Johnston: Co-Founder and Executive Chairman

For more insights into the company's goals, see: Mission Statement, Vision, & Core Values of Li-Cycle Holdings Corp. (LICY).

Li-Cycle Holdings Corp. (LICY) Mission and Values

Li-Cycle's mission is to create a circular economy for lithium-ion batteries, while its core values emphasize safety, innovation, and sustainability.

Li-Cycle's Core Purpose

Official mission statement

Li-Cycle's mission statement is: 'To close the loop for lithium-ion batteries and create a secondary supply of critical battery materials.' This statement underscores the company's commitment to sustainability and resource recovery within the electric vehicle (EV) battery supply chain. Mission Statement, Vision, & Core Values of Li-Cycle Holdings Corp. (LICY).

• Li-Cycle aims to address the growing need for battery recycling as the demand for electric vehicles increases.
• The company focuses on recovering valuable materials such as lithium, nickel, and cobalt from spent lithium-ion batteries.
• By creating a secondary supply of these materials, Li-Cycle reduces the reliance on traditional mining and promotes a more sustainable battery industry.

Vision statement

Li-Cycle's vision is to be the leading lithium-ion battery recycler, enabling a sustainable future through innovative technology and responsible resource management. This vision reflects the company's aspirations to lead the battery recycling industry and contribute to a cleaner, more sustainable world.

• Li-Cycle strives to develop and implement advanced recycling technologies that maximize the recovery of valuable materials from lithium-ion batteries.
• The company aims to establish a global network of recycling facilities to efficiently process end-of-life batteries from various sources.
• Li-Cycle is committed to operating its facilities in an environmentally responsible manner, minimizing waste and emissions.

Company slogan/tagline

Li-Cycle does not have a single official slogan or tagline. However, the company's branding and communications often emphasize the following themes:

• Closing the loop for lithium-ion batteries
• Creating a circular economy for battery materials
• Enabling a sustainable future for electric vehicles

Li-Cycle Holdings Corp. (LICY) How It Works

Li-Cycle Holdings Corp. specializes in the recovery of critical materials from lithium-ion batteries through its innovative and sustainable recycling technologies.

Li-Cycle's Product/Service Portfolio

Li-Cycle's Operational Framework

Li-Cycle employs a two-stage recycling process known as the 'Spoke & Hub' model:

• Spoke Facilities: These facilities utilize a submerged shredding process that prioritizes safety and minimizes environmental impact. The shredding process produces 'black mass,' an intermediate product containing valuable metals.
• Hub Facilities: These facilities employ a hydrometallurgical process to refine black mass into battery-grade materials, such as lithium, nickel, and cobalt. This process is designed to be environmentally friendly, with a focus on water recycling and minimal waste generation.

Li-Cycle's operational framework focuses on:

• Safety: Prioritizing safe handling and processing of lithium-ion batteries.
• Environmental Sustainability: Minimizing environmental impact through innovative recycling technologies.
• Resource Recovery: Maximizing the recovery of valuable materials from end-of-life batteries.

Learn more about Li-Cycle Exploring Li-Cycle Holdings Corp. (LICY) Investor Profile: Who’s Buying and Why?

Li-Cycle's Strategic Advantages

• Proprietary Technology: Li-Cycle's Spoke & Hub technologies offer a unique and efficient approach to lithium-ion battery recycling.
• Scalable Business Model: The modular design of Spoke & Hub facilities allows for rapid expansion to meet growing demand.
• Strategic Partnerships: Collaborations with major players in the battery and automotive industries strengthen Li-Cycle's supply chain and market access.
• Focus on Sustainability: Li-Cycle's commitment to environmentally friendly recycling practices resonates with environmentally conscious customers and investors.

The company's strategic advantages include:

• North American Presence: Li-Cycle has established a strong presence in North America, positioning it to capitalize on the growing electric vehicle market.
• End-to-End Solution: Li-Cycle offers a complete recycling solution, from collection to material recovery, simplifying the process for its customers.

Li-Cycle Holdings Corp. (LICY) How It Makes Money

Li-Cycle Holdings Corp. primarily generates revenue by providing lithium-ion battery recycling and resource recovery services, transforming end-of-life batteries and battery manufacturing scrap into valuable materials.

Li-Cycle's Revenue Breakdown

Li-Cycle's revenue streams are categorized based on the products recovered from their recycling process and the services they provide. However, specific percentage breakdowns and growth trends for different revenue streams are not readily available in the latest financial reports. More detailed information would typically be found in their annual reports or investor presentations.

Li-Cycle's Business Economics

Li-Cycle operates with a focus on creating a circular economy for lithium-ion batteries. Here are some key aspects of their business economics:

• Feedstock Sourcing: Li-Cycle secures end-of-life batteries and manufacturing scrap from various sources, including electric vehicle manufacturers, battery producers, and collection networks.
• Proprietary Technology: Their patented Spoke & Hub technologies allow for efficient processing of different battery chemistries and formats, maximizing the recovery of valuable materials.
• Scalability: The Spoke & Hub model is designed for scalability, with Spoke facilities pre-processing batteries and Hub facilities refining the materials into battery-grade chemicals.
• Market Demand: The increasing demand for battery materials, driven by the growth of the electric vehicle market, supports the economic viability of battery recycling.
• Learn more about the company's goals and values: Mission Statement, Vision, & Core Values of Li-Cycle Holdings Corp. (LICY).

Li-Cycle's Financial Performance

As a company in a growth phase, Li-Cycle's financial performance reflects significant investments in expanding its recycling capacity. Key highlights and considerations include:

• Revenue Growth: While specific revenue figures fluctuate, the trend is towards growth as recycling volumes increase.
• Strategic Partnerships: Collaborations with major players in the battery and automotive industries enhance feedstock supply and market access.
• Operational Costs: Expanding operations and developing new facilities involve substantial capital expenditures, impacting profitability.
• Market Conditions: Fluctuations in commodity prices for recovered materials (lithium, nickel, cobalt) can affect revenue and profitability.

Li-Cycle Holdings Corp. (LICY) Market Position & Future Outlook

Li-Cycle Holdings Corp. is navigating a dynamic market environment with a focus on expanding its battery recycling capabilities and securing its position as a key player in the lithium-ion battery recycling industry.

Competitive Landscape

The competitive landscape for lithium-ion battery recycling is evolving, with several companies vying for market share. As of now, precise, verifiable market share data for each company in 2024 is not fully available. However, a general overview can be provided based on industry analysis and key players:

Note: The market share percentages are estimates based on available industry reports and may vary. The battery recycling market is still developing, and market shares are subject to change as new facilities come online and partnerships evolve.

Opportunities & Challenges

Li-Cycle faces both opportunities and risks as it seeks to grow in the rapidly expanding battery recycling market:

Industry Position

Li-Cycle is strategically positioned to capitalize on the growing demand for sustainable lithium-ion battery recycling. The company's standing is characterized by:

• Proprietary Technology: Li-Cycle's Spoke & Hub model offers a differentiated approach to battery recycling, enabling the recovery of valuable materials with a reduced environmental footprint.
• North American Focus: With recycling facilities ('Spokes') and processing facilities ('Hubs') located in North America, Li-Cycle benefits from proximity to key battery manufacturing and electric vehicle markets.
• Strategic Partnerships: Collaborations with industry players enhance Li-Cycle's access to battery supply and recycling opportunities.

To gain more insights into the company's core values, read: Mission Statement, Vision, & Core Values of Li-Cycle Holdings Corp. (LICY).

Despite ceasing its Rochester Hub project, Li-Cycle remains focused on optimizing its existing operations and pursuing strategic growth opportunities within the battery recycling sector.