Evacycle

What Evacycle does

Evacycle (legal entity: EVACYCLE Co., Ltd.) is a South Korea-headquartered, privately held battery circular-economy company that operates end-to-end spent-electric-vehicle-battery recycling services. Founded in July 2023 as a spin-off from Hyundai Motor Group's internal venture program (selected September 2022), the company serves electric-vehicle manufacturers, battery cell producers, materials companies, and government/public-sector clients, with named commercial and partnership relationships across Hyundai Motor Group, Hyundai, Kia, GS Energy, GS Global, SK ecoplant, POSCO HY Clean Metal, EcoPro, and EcoPro CnG, alongside government partners Gyeongsangbuk-do and Gyeongbuk Technopark.

The company's technical backbone is two proprietary, in-house hardware platforms: the ECDL (EvaCycle Disassembly Line), an automated battery-pack disassembly facility covering discharge, diagnostics, and disassembly, and the ECPL (EvaCycle Product Line), a black-mass production line that uses hydrometallurgical processes to recover nickel, cobalt, lithium, and manganese. Next-generation ECDL 2.0 and ECPL 2.0 systems were commissioned in May 2025, and the company operates a six-step vertically integrated lifecycle service spanning spent-battery collection, discharge, disassembly, black powder, metal salts, electrode re-production, and cell/pack manufacturing. Operations are anchored by three South Korean facilities — Hwaseong Plant 1 (headquarters), Hwaseong Plant 2, and Jeju Plant 3 (approved March 2025 as Jeju's first designated-waste business) — and the company holds ISO 9001, 14001, and 45001 certifications (August 2024), MOTIE Carbon-Neutral Leader status (April 2024), and Deep-Tech TIPS Excellence selection (June 2024).

Evacycle generates revenue through four streams: per-tonne battery recycling service fees for spent EV batteries and cell scrap, hardware sales/licensing of ECDL and ECPL systems, custom recycling solutions for partner-specific requirements, and a carbon-credit business developed in conjunction with MOTIE-selected carbon-neutral initiatives and an automated ESG-reporting system. Go-to-market is direct B2B enterprise field sales targeting Korean OEMs, battery materials companies, and government entities, supplemented by participation in industry forums (e.g., the 2023 International Secondary Battery Forum in Gyeongju) and a multi-language corporate website (Korean, English, Japanese) that funnels partnership inquiries. Pricing is not publicly disclosed; commercial engagement is initiated via direct partnership inquiries.

Name

Evacycle

Legal name

EVACYCLE Co., Ltd.

Website

https://evacycle.com

Company type

Private

Founded year

2023

Operating status

Operating

Short description

Evacycle (EVACYCLE Co., Ltd.) is a South Korea-based battery circular-economy company that recycles spent EV batteries using proprietary ECDL disassembly and ECPL black-mass production systems, serving Hyundai, Kia, battery materials firms, and government partners.

Ownership category

akta.pro rank

Product category

Battery Recycling Services

NAICS

Materials Recovery Facilities (562920), Hazardous Waste Treatment and Disposal (562211), Battery Manufacturing (33591)

SIC

Refuse Systems (4953)

akta.pro primary industry

Battery Recycling, Second-Life & Remanufacturing (IMAGAHAL)

akta.pro secondary industries

Direct Recycling & Cathode Regeneration (Relithiation, Reconditioning) (EUAFACAF), Lithium-ion Battery Recycling (Mechanical, Hydro, Direct Recycling) (EUAIAIAF), Battery Recycling & Management (Lithium-ion, Lead-acid) (BPALAIAF), Collection, Logistics & Reverse Supply Chain (Transport, Sorting, Tracking) (EUAFACAA)

Keywords

• Battery recycling services
• Circular economy solutions
• Black mass production
• Hydrometallurgical metal recovery
• Spent battery processing

Headquarters

HQ city

Jangan

HQ country

South Korea

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Battery Recycling Services: End-to-end recycling services for spent EV batteries and cell scrap, covering collection, discharge, disassembly, and material recovery. Revenue generated through service fees for processing spent batteries and scrap materials from manufacturers.
2. Equipment Sales and Licensing (ECDL, ECPL): Sale and potentially licensing of proprietary recycling equipment including the EvaCycle Disassembly Line (ECDL) and EvaCycle Product Line (ECPL) systems
3. Carbon Credits Business: Carbon-reduction business generating revenue through carbon credits, developed in partnership with MOTIE-selected carbon-neutral initiatives
4. Custom Recycling Solutions: Tailored recycling services designed for specific customer requirements and situations

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Evacycle provides end-to-end spent electric vehicle battery recycling services, operating proprietary automated disassembly (ECDL) and black-mass production (ECPL) lines that recover nickel, cobalt, lithium, and manganese from end-of-life batteries and cell scrap. The company offers vertically integrated circular-economy solutions spanning collection, diagnosis, disassembly, hydrometallurgical metal-salt recovery, and cathode/anode re-production for new cell and pack manufacturing.

Product overview

EVACYCLE operates as a vertically integrated battery circular-economy platform offering end-to-end spent-battery recycling solutions. The core product portfolio consists of two proprietary hardware platforms — ECDL (EvaCycle Disassembly Line) for automated battery-pack disassembly and ECPL (EvaCycle Product Line) for black-mass production — supported by a six-step Full Battery Lifecycle Service. The company also provides dedicated services including EV Battery Recycling (Pack/Module/Cell level), Cell Scrap Recycling, Custom Recycling Services, and a Carbon-Credit Business. The ECDL and ECPL systems form the technological backbone, enabling automated separation, discharge, disassembly, and hydrometallurgical metal recovery (Ni, Co, Li, Mn) that feeds into cathode/anode re-production for new battery cells and EV packs.

Differentiator

Problem solved

Functional benefit

Brands

• ECDL (EvaCycle Disassembly Line): Battery-pack automated disassembly facility
• ECPL (EvaCycle Product Line)

Products and services

• ECDL (EvaCycle Disassembly Line) Automated battery-pack disassembly facility that safely handles end-of-life batteries through discharge, separation, and disassembly processes, maximizing safety and recovery rates. Targeted at automotive OEMs and battery manufacturers.
• ECPL (EvaCycle Product Line) Black-mass production line that extracts high-purity black powder from disassembled battery cells through hydrometallurgical metal-salt recovery processes. Targeted at automotive OEMs and battery manufacturers.
• Full Battery Lifecycle Service

Quantifiable outcome

• Target Recovery Rate: 94.6%
• +4 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

13 partnerships are on record, tiered core, major and minor.

• Hyundai Motor GroupcoreStrategic or Co-development PartnerParent company and spin-off origin. EVACYCLE was selected for Hyundai Motor Group's in-house startup program in September 2022 and officially spun off in July 2023. Maintains ongoing relationship as strategic partner in battery ecosystem development.
• HyundaicoreStrategic or Co-development PartnerMajor automotive OEM partner for battery recycling and circular economy solutions. Ongoing commercial relationship for end-of-life battery management.
• KiacoreStrategic or Co-development PartnerPartnership established September 2023 for battery ecosystem development. Kia signed partnerships with battery firms and municipalities at the 2023 International Secondary Battery Forum.
• GS EnergymajorStrategic or Co-development PartnerMaterials/energy sector partner in EVACYCLE's 18+ partner ecosystem, supporting battery recycling operations and resource recovery.
• GS GlobalmajorStrategic or Co-development PartnerMaterials/energy sector partner contributing to battery ecosystem and recycling value chain development.
• SK ecoplantmajorStrategic or Co-development PartnerMaterials/energy sector partner involved in environmental solutions and battery recycling infrastructure.
• POSCO HY Clean MetalmajorStrategic or Co-development PartnerMaterials partner specializing in clean metal processing, supporting critical metal recovery from recycled batteries.
• EcoPromajorStrategic or Co-development PartnerBattery materials company partner in the battery ecosystem Alliance MOU (October 2023) alongside Gyeongbuk, KITP, Kia, Hyundai Glovis, and EVACYCLE.
• EcoPro CnGmajorStrategic or Co-development PartnerMaterials/energy sector partner contributing to battery recycling ecosystem and circular economy solutions.
• Gyeongsangbuk-domajorStrategic or Co-development PartnerLocal government partner in battery ecosystem Alliance MOU (October 2023), supporting regional battery recycling infrastructure and carbon neutrality initiatives.
• Gyeongbuk TechnoparkmajorStrategic or Co-development PartnerGovernment/public partner in battery ecosystem Alliance MOU, providing technopark resources and regional development support.
• Yonsei UniversityminorStrategic or Co-development PartnerAcademic partner for research collaboration in battery recycling technology and materials science.
• Dong-A UniversityminorStrategic or Co-development PartnerAcademic partner contributing to R&D in battery recycling processes and circular economy solutions.

Scale indicators7 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• GEM Co., Ltd. China-based leading battery and e-waste recycling company operating hydrometallurgical recovery of Ni/Co/Li/Mn at industrial scale. Comparable in process technology and target outputs; differs in operating geography and being publicly listed at much larger scale.
• Ascend Elements: U.S. lithium-ion battery recycling company using hydrometallurgical direct-recycling process (Hydro-to-Cathode™) to produce cathode precursor directly from black mass. Closely comparable to Evacycle's cathode re-production process and a relevant peer for technical benchmarking.
• Li-Cycle: Canada-headquartered lithium-ion battery recycler using a 'spoke-and-hub' model combining mechanical processing with hydrometallurgical recovery of critical metals. Closely comparable business model and feedstock profile, though with broader geographic ambitions (North America, Europe) that Evacycle currently lacks.
• Redwood Materials: U.S.-based battery recycling and cathode active material producer founded by former Tesla CTO, focused on closed-loop recovery of Ni/Co/Li from EV and consumer batteries. Highly comparable in vertical integration from spent battery to cathode material, and a benchmark for the Evacycle model.
• SungEel HiTech: Korea's largest listed lithium-ion battery recycling company, operating hydrometallurgical and pyrometallurgical recovery of Ni/Co/Li/Mn from spent EV and electronics batteries. Direct competitor in the same Korean market, serving the same Korean OEM customers (Hyundai/Kia/SK On/LG ES) with overlapping recycling process technology.

Broad incumbents

• SK ecoplant: Korean environmental services and recycling arm of SK Group, with battery recycling operations. Already a partner of Evacycle but also a potential competitor in the Korean battery recycling market with broader waste-management infrastructure.
• Umicore: Belgian global materials technology and recycling group with a battery materials and recycling business recovering Ni/Co/Li from spent EV batteries. Comparable in metal recovery and refining, but operates as a broad incumbent across catalysis, recycling, and specialty materials rather than a recycling pure-play.
• Glencore: Swiss global mining and commodities trader with significant cobalt and nickel refining capacity, including growing battery recycling operations. Comparable as a downstream buyer/competitor for spent-battery-derived metals and a relevant incumbent for benchmark pricing and offtake.
• POSCO HY Clean Metal: Korean steel and metals conglomerate's clean-metal subsidiary producing nickel and cobalt from both primary and recycled sources. Already a partner of Evacycle, but also a competitive supplier of recycled battery-grade metals and a relevant benchmark for downstream offtake.
• EcoPro: Korean battery materials leader (cathode active materials) and a partner of Evacycle. Operates upstream in cathode production, making it an adjacent/comparable player that could either integrate downstream into recycling or remain a customer of Evacycle's recovered materials.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors2 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 Evacycle