What Li Industries does

Li Industries is a Pineville, North Carolina-based, privately-held lithium-ion battery recycling technology company founded in 2017 by Zheng Li, Nolan Schmidt, David Young, and Henry Han. The company has developed a proprietary, patent-protected Direct Electrode-to-Electrode (Direct E2E) recycling process that converts end-of-life lithium-ion batteries and battery production scrap into high-purity commercial-grade cathode active materials — most notably lithium iron phosphate (LFP) CAM — faster, cheaper, and with a claimed 23% lower production cost than traditional manufacturing routes. The technology is positioned as a closed-loop, automated alternative to incumbent pyrometallurgical and hydrometallurgical recycling methods.

The company's business model combines two revenue streams: (i) sale of recycled battery materials (hardware sales) to lithium-ion battery manufacturers, cathode producers, battery recyclers, and battery collectors across the EV and consumer electronics supply chains, and (ii) technology licensing and co-development arrangements with strategic enterprise partners, most prominently General Motors, which is simultaneously an investor (GM Ventures), a co-developer, and a future off-taker for LFP CAM. The company is currently scaling a 10,000 tonne-per-annum recycling and manufacturing facility — projected to produce 5 GWh of LFP CAM annually — funded in part by a $55 million U.S. Department of Energy award under the Bipartisan Infrastructure Law. Operations span a Pineville, NC headquarters; a Charlotte, NC engineering center; and a Blacksburg, VA R&D center, with a customer base concentrated domestically.

Li Industries is led by its four co-founders, supplemented by a high-caliber executive bench that includes Nobel Laureate M. Stanley Whittingham as Chief Scientist, a former Entegris/BASF/DuPont COO, and a CCO with prior P&L responsibility of $300M+ at Schneider Electric and First Solar. The company has raised over $50 million across a $7M Series A (Khosla Ventures-led, 2022) and a $42M Series B (2024), supplemented by NSF grants, the DOE award, and a senior lending relationship with J.P. Morgan's Green Economy Banking team. Institutional backers include Khosla Ventures, GM Ventures, Shell Ventures, Xerox Ventures, Chevron Technology Ventures, LG Technology Ventures, Bosch Ventures, Anglo American, DNX Ventures, Tech Energy Ventures, and Formosa Smart Energy.

Name

Li Industries

Legal name

Li Industries, Inc.

Website

https://li-ind.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Li Industries is a Pineville, NC-based battery recycling technology company that uses its proprietary Direct Electrode-to-Electrode process to convert end-of-life lithium-ion batteries into commercial-grade LFP cathode active materials for battery manufacturers, cathode producers, and energy storage customers.

Ownership category

akta.pro rank

Product category

Battery Materials Recycling and Manufacturing

NAICS

Battery Manufacturing (33591), Battery Manufacturing (335910), Basic Chemical Manufacturing (3251)

SIC

Refuse Systems (4953), Electronic & Other Electrical Equipment (No Computer Equip) (3600), Miscellaneous Chemical Products (2890)

akta.pro primary industry

Lithium-ion Battery Recycling (Mechanical, Hydro, Direct Recycling) (EUAIAIAF)

akta.pro secondary industries

Battery Materials Refining & Re-Manufacturing Feedstocks (Li, Ni, Co, Mn, Graphite Salts) (EUAIAIAJ), Cathode Active Materials (CAM) Manufacturing (EUAFABAB), Battery Recycling & Materials Recovery (Li-ion, LFP, Flow, Lead-Acid) (EUAMALAE), Collection, Logistics & Reverse Supply Chain (Transport, Sorting, Tracking) (EUAFACAA)

Keywords

• Lithium-ion battery recycling
• Cathode materials production
• Closed-loop battery supply
• Direct electrode recycling
• Battery materials manufacturing

Headquarters

HQ city

Pineville

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Infrastructure, Operations, Personnel, Supply Chain, Marketing or Sales

Revenue model

1. Battery Materials Production and Sales: Li Industries generates revenue by recycling end-of-life batteries and production waste into valuable battery materials (particularly LFP cathode active material) that are sold back to lithium-ion battery manufacturers and cathode producers. The company operates recycling facilities and sells the recovered materials as a product.
2. Technology Licensing and Partnerships: Revenue generated through technology partnerships with major automotive and energy companies, including licensing of proprietary recycling technologies and co-development arrangements with partners like GM.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Li Industries develops and operates patent-protected Direct E2E™ (Direct Electrode-to-Electrode) recycling technology that converts end-of-life lithium-ion batteries and production scrap into low-cost, high-purity commercial-grade battery materials, particularly LFP cathode active material for EV and stationary storage applications. The company runs a 10,000 tonne per annum recycling and manufacturing facility (planned 5 GWh annual LFP CAM output) and offers a Starter Pack product for customers evaluating the technology, alongside technology licensing and co-development partnerships with major automotive and energy companies.

Product overview

Li Industries offers a portfolio of battery materials production and recycling solutions centered on its proprietary Direct E2E™ (Direct Electrode-to-Electrode) recycling technology. The core offering consists of closed-loop lithium-ion battery materials production technology that processes all types of lithium-ion batteries from electric vehicles and consumer electronics, generating high-purity commercial-grade battery materials faster, cheaper, and cleaner than traditional manufacturing. The company's 10,000 tonne recycling facility enables scaled operations, while the Starter Pack provides an entry point for customers evaluating the technology. All offerings are designed to support LIB manufacturers, cathode producers, battery recyclers, and battery collectors in achieving greater efficiencies and cost savings in the critical materials supply chain.

Differentiator

Problem solved

Functional benefit

Products and services

• Starter Pack Entry-level product offering for prospective customers seeking to evaluate Li Industries' battery recycling and materials production capabilities before committing to larger-scale supply or partnership agreements. Available via the company's website product page.
• LFP Cathode Active Material (CAM) Recycled, low-cost, high-purity Lithium Iron Phosphate (LFP) cathode active material produced via Li Industries' proprietary Direct E2E™ recycling process from end-of-life lithium-ion batteries and production scrap. Sold to lithium-ion battery manufacturers and cathode producers for use in electric vehicle cells and stationary energy storage systems.
• Direct E2E™ (Direct Electrode-to-Electrode) Recycling Technology — Licensing License of Li Industries' patent-protected Direct E2E™ recycling technology for partners seeking to produce low-cost, high-performance LFP and other lithium-ion battery materials in a closed-loop workflow. Offered to strategic partners such as automotive OEMs and energy companies (e.g., General Motors co-development partnership) under technology licensing and co-development arrangements.

Quantifiable outcome

• 23% reduction in domestic LFP CAM production costs compared to traditional manufacturing
• +2 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• General MotorsflagshipStrategic or Co-development PartnerGM is supporting Li Industries' development of technology to enable the direct recycling process and partnering with other industry leaders to build and operate the LFP CAM recycling and manufacturing plant. GM is also an investor through GM Ventures.

Scale indicators8 records

Recent moves6 records

Expansion highlights3 records

Broad incumbents

• Umicore: Global materials technology group with a major battery materials and recycling business producing NMC and precursor CAM for automotive OEMs worldwide. Comparable as a large, established supplier of cathode materials with a recycling footprint, though Umicore's portfolio is broader (catalysis, recycling) and its recycling flowsheet is hydrometallurgical.
• SungEel HiTech: South Korean Li-ion battery recycler with large operational capacity, supplying recovered black mass and battery-grade materials to Korean and global OEMs. Comparable in serving the EV battery recycling end-market, though primarily operating in Asia and using pyrometallurgical/hydrometallurgical routes.
• Glencore: Global mining and commodities giant with a growing battery recycling and cobalt/nickel refining business. Comparable as a large-scale buyer/processor of battery scrap and producer of refined battery materials, though operating across many commodity streams rather than Li Industries' focused direct recycling approach.

Direct peers

• Redwood Materials: Founded by former Tesla CTO JB Straubel, Redwood Materials is the most capitalized US Li-ion battery recycler, focused on closed-loop recovery of cathode and anode materials with major OEM partnerships (Panasonic, Toyota, Ford, Volvo). Directly comparable to Li Industries on business model, customer type (automotive OEMs), and closed-loop CAM ambition.
• Li-Cycle: Public (NYSE: LICY) Li-ion battery recycler using a hub-and-spoke 'spoke' pre-processing and 'hub' hydrometallurgical refining model to recover black mass and battery-grade materials. Comparable end-market (Li-ion recycling, cathode feedstocks) and customer base (OEMs, gigafactories), though Li-Cycle uses an indirect (chemical) flowsheet rather than Li Industries' direct electrode recycling.
• Ascend Elements: US-based Li-ion battery recycler using Hydro-to-Cathode™ direct precursor synthesis to produce CAM from black mass, with anchor offtake from SK On and major Honda/Proterra ties. Closest direct competitor to Li Industries on closed-loop CAM production for North American OEMs.
• Cirba Solutions: Operator of battery recycling and materials recovery facilities in North America with strategic investments from SK Capital and others. Comparable in providing end-of-life battery collection and materials recovery services to automotive and industrial customers.
• Battery Resourcers (now Ascend Elements): Now operating as Ascend Elements; pioneered hydrometallurgical closed-loop CAM recovery in North America. Comparable focus on producing battery-grade cathode precursors from recycled feedstock for automotive OEMs.

Emerging players

• Princeton NuEnergy: Early-stage US battery recycling company using a low-temperature plasma-assisted direct recycling process to recover cathode materials. Comparable in technology approach (direct recycling) and end-market focus, though at smaller scale than Li Industries.
• Element Energy: US-based battery materials and recycling startup focused on recovery of cathode active materials. Comparable emerging-stage direct competitor with OEM engagement and closed-loop CAM ambition.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/li-industries

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds5 records

Investors13 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Li Industries