Li-Cycle
Li-Cycle was a Canadian lithium-ion battery recycling company that used hydrometallurgical processes to recover lithium, cobalt, nickel, and copper from end-of-life batteries and manufacturing scrap for EV, BESS, and industrial customers. Acquired by Glencore in 2025 and now operates as Glencore Battery Recycling.
- Company typePublic
- Founded2017
- HeadquartersMississauga, Canada
- Headcount101–250
- GTM typeB2B
- OfferingServices
What Li-Cycle does
Li-Cycle was a Canadian lithium-ion battery recycling company headquartered in Toronto, Ontario, founded in 2016-2017. The company operated a hub-and-spoke model that combined mechanical shredding at smaller Spoke facilities with centralized hydrometallurgical processing at its flagship Rochester Hub in New York, recovering critical battery materials — including lithium, cobalt, nickel, manganese, and copper — from end-of-life batteries and manufacturing scrap for reintroduction into the battery supply chain. Its hydrometallurgical processes were reported to recover 90-98% of critical minerals, and the company positioned itself as North America's largest lithium-ion battery resource recycler.
The company generated revenue through transaction fees for recycling services and the sale of recovered critical minerals, selling via direct enterprise sales to EV manufacturers and OEMs, battery energy storage system operators, automotive OEMs, and industrial battery users (including mining and industrial fleets). Strategic backers and partners included Glencore (commodities trader, feedstock supply and offtake, multi-stage investor), LG Energy Solution and LG Chem (battery manufacturers, $50M investment), and Koch Strategic Platforms ($100M investment). The U.S. Department of Energy provided a loan facility that was upsized to $475 million to fund the Rochester Hub build-out.
Following its August 2021 SPAC merger with Peridot Acquisition Corp. (NYSE: LICY, ~$580-615M proceeds), Li-Cycle encountered material cost overruns and technical difficulties at Rochester, filed for Chapter 15 and CCAA bankruptcy protection in May 2025, and was delisted from the NYSE. Glencore, the company's largest secured creditor, acquired Li-Cycle in August/September 2025 for approximately $40 million through the bankruptcy auction. Li-Cycle's assets and operations now sit within Glencore Battery Recycling (GBR), a wholly-owned Glencore subsidiary.
Li-Cycle firmographics
Firmographics- Name
- Li-Cycle
- Legal name
- Li-Cycle Holdings Corp.
- Website
- https://li-cycle.com
- Company type
- Public
- Founded year
- 2017
- Operating status
- Acquired
- Headcount range
- 101–250 employees
- Short description
- Li-Cycle was a Canadian lithium-ion battery recycling company that used hydrometallurgical processes to recover lithium, cobalt, nickel, and copper from end-of-life batteries and manufacturing scrap for EV, BESS, and industrial customers. Acquired by Glencore in 2025 and now operates as Glencore Battery Recycling.
- Ownership category
- akta.pro rank
Li-Cycle industry classification
Industry- NAICS
- Hazardous Waste Treatment and Disposal (562211), Waste Collection (5621)
- SIC
- Refuse Systems (4953)
- akta.pro primary industry
- Lithium-ion Battery Recycling (Mechanical, Hydro, Direct Recycling) (EUAIAIAF)
- akta.pro secondary industries
- Battery Recycling & Materials Recovery (Li-ion, LFP, Flow, Lead-Acid) (EUAMALAE), Battery Recycling, Second-Life & End-of-Life Handling Services (TLAKAMAD), Testing, Grading & State-of-Health (SoH) Diagnostics (EOL Assessment, Certification) (EUAFACAH), Battery Second-Life, Testing & Repurposing (EV-to-Stationary) (EUAIAIAK)
Keywords
Where Li-Cycle is headquartered
LocationHeadquarters
- HQ city
- Mississauga
- HQ country
- Canada
- HQ region
- North America
Offices2 records
Markets served
Li-Cycle business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Infrastructure, Personnel, Supply Chain, Technology or R&D
Revenue model
- Battery Recycling Processing Services: Fee-based recycling services for lithium-ion batteries from EVs, consumer electronics, and energy storage systems. Processing black mass to recover and sell critical materials including lithium, cobalt, nickel, and copper.
- Critical Mineral Recovery and Sale: Recovery of critical minerals from end-of-life batteries for sale back into the battery supply chain, supporting domestic critical materials supply chains
Go-to-market motion1 record
Distribution channels1 record
Marketing channels1 record
Li-Cycle product offering
Product offeringCore offering
Li-Cycle is a clean technology company that recycles lithium-ion batteries using environmentally friendly hydrometallurgical processes. It processes end-of-life batteries and manufacturing scrap to recover critical materials — including lithium, cobalt, nickel, manganese, and copper — and returns them as battery-grade feedstock to the EV and energy storage supply chains. Operations are anchored by the Rochester Hub material recovery facility in New York.
Product overview
Li-Cycle was a battery recycling company offering lithium-ion battery recycling services with a primary focus on processing end-of-life batteries and manufacturing scrap to recover critical materials (lithium, cobalt, nickel, manganese, copper). The company's flagship operation was the Rochester Hub facility in New York, which processed black mass to extract battery-grade materials for EV batteries. The company operated a hub-and-spoke model combining mechanical shredding with hydrometallurgical processing. As of August 2025, Li-Cycle was acquired by Glencore Plc and operations are now integrated under Glencore Battery Recycling (GBR).
Differentiator
Problem solved
Functional benefit
Products and services
- Lithium-Ion Battery Recycling Services
- Rochester Hub
- Black Mass Processing
Quantifiable outcome
- Creates domestic source of battery-grade materials for US EV supply chain
- +2 more outcomes
Companies that use Li-Cycle
Customer profileNamed customers2 records
Segments3 records
Ideal customer profiles3 records
Li-Cycle technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Li-Cycle partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered key and core.
- High-Performance Luxury EV Manufacturer (Germany)keyLi-Cycle entered an exclusive recycling agreement with a high-performance luxury EV manufacturer in Germany, expanding commercial footprint in the EU market.
- Glencore (Acquisition)coreGlencore acquired Li-Cycle in 2025 following bankruptcy proceedings, with the Rochester Hub project revitalized under new ownership. Glencore plans to resume construction and continue battery recycling operations.
Scale indicators15 records
Recent moves8 records
Expansion highlights4 records
Li-Cycle competitors and assessment
Company assessmentDirect peers
- Ascend Elements: U.S.-based lithium-ion battery recycling company using hydrometallurgical processes to produce battery-grade cathode precursor materials, directly comparable to Li-Cycle's hydrometallurgical black mass recovery approach.
- Redwood Materials: Founded by former Tesla CTO JB Straubel, Redwood Materials is a leading North American lithium-ion battery recycler producing cathode active material and anode copper foil from end-of-life and manufacturing-scrap batteries — a direct competitor to Li-Cycle's hub-and-spoke recycling model.
- Cirba Solutions: North American battery recycling and materials company with processing facilities serving EV, ESS, and consumer electronics end-of-life streams — competes directly with Li-Cycle for OEM recycling contracts and feedstock.
- American Battery Technology Company: U.S. battery materials company focused on lithium-ion battery recycling and primary lithium resource development; also secured DOE funding and targets the same critical mineral recovery value chain as Li-Cycle.
- Retriev Technologies: North American battery recycling company with operations processing lithium-ion and other battery chemistries, competing for similar industrial and consumer battery feedstock streams as Li-Cycle.
- Fortum: Nordic energy company operating a growing lithium-ion battery recycling business in Europe, competing for European OEM and industrial recycling contracts alongside Li-Cycle's German partnership.
Broad incumbents
- GEM Co. Chinese battery recycling and new energy materials group, one of the largest battery recyclers globally; serves as a global benchmark and competitor in lithium-ion recycling capacity and critical mineral recovery.
- Umicore: Global materials technology and recycling group with a major battery materials and battery recycling business — a broad incumbent whose portfolio overlaps with Li-Cycle's critical mineral recovery and refining activities.
Others
- Glencore: Swiss multinational mining and commodity trading conglomerate that is now the parent of Li-Cycle/GBR; provides feedstock, offtake, and capital that materially shape Li-Cycle's commercial trajectory and is therefore a highly relevant ecosystem participant.
Emerging players
- Hydrovolt: Joint venture between Norsk Hydro and Northvolt building European lithium-ion battery recycling capacity; an emerging regional player targeting similar EV and ESS recycling flows as Li-Cycle in Europe.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Li-Cycle social profiles
Digital presenceLi-Cycle financial estimates
Financial estimateRevenue estimate
Valuation estimate
Li-Cycle leadership team
Management profileNumber of profiles
Profiles8 records
Li-Cycle funding detail
Funding detailFunding overview
Funding rounds13 records
Investors17 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Li-Cycle M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Li-Cycle
What does Li-Cycle do?
Li-Cycle is a clean technology company that recycles lithium-ion batteries using environmentally friendly hydrometallurgical processes. It processes end-of-life batteries and manufacturing scrap to recover critical materials — including lithium, cobalt, nickel, manganese, and copper — and returns them as battery-grade feedstock to the EV and energy storage supply chains. Operations are anchored by the Rochester Hub material recovery facility in New York.
Is Li-Cycle a public or private company?
Li-Cycle is a public company. It is classified as corporate owned and is currently acquired.
When was Li-Cycle founded?
Li-Cycle was founded in 2017. It employs 101 to 250 people.
Where is Li-Cycle based?
Li-Cycle is headquartered in Mississauga, Canada, in the North America region.
How does Li-Cycle make money?
Two revenue lines are on record. Battery Recycling Processing Services are the primary driver. The others are critical Mineral Recovery and Sale.
Who are Li-Cycle's main competitors?
Direct peers on record are Ascend Elements, Redwood Materials, Cirba Solutions, American Battery Technology Company, Retriev Technologies and Fortum. Broad incumbents are GEM Co. and Umicore. Glencore is listed as an others. Hydrovolt is listed as an emerging player.
Does Li-Cycle have an API?
No public API is recorded for Li-Cycle.
What industry is Li-Cycle in?
Its primary akta.pro industry code is EUAIAIAF, Lithium-ion Battery Recycling (Mechanical, Hydro, Direct Recycling), with a secondary code of EUAMALAE, Battery Recycling & Materials Recovery (Li-ion, LFP, Flow, Lead-Acid). Its NAICS code is 562211 and its SIC code is 4953.