Li-Cycle Holdings Corp.
li-cycle.comNo Longer Reporting
The company has not filed an annual or quarterly report since its FY2024 10-K, filed Mar 31, 2025. Its latest SEC filing is a SCHEDULE 13G/A from Aug 14, 2026.
10-K for FY2024, filed Mar 31, 2025
The sections below describe the company as of the FY2024 annual report.
What Did They Do?
Recycles battery manufacturing scrap and end-of-life lithium-ion batteries into black mass and other materials, and plans to refine black mass into battery-grade products for battery makers and electric-vehicle companies.
10-K for FY2024, filed Mar 31, 2025Our Company OverviewView ↗
Batteries for recycling are broken down at our Spokes through a “submerged shredding” process and separated into black mass, shredded metal…View ↗
Li-Cycle procures a wide variety of lithium-ion battery-grade materials, including EV and BESS batteries, battery manufacturing scrap, and…View ↗
How Did They Make Money?
Customers pay for black mass and similar products, shredded metal, and battery-recycling services. Product payment is due after the goods are transferred; services include logistics coordination and battery destruction.
10-K for FY2024, filed Mar 31, 2025
$28M
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10-K for FY2024, filed Apr 1, 2025
$28M ↗
Who Were Their Customers?
Battery and EV manufacturers provide manufacturing scrap, damaged batteries and end-of-life batteries; EV manufacturers and battery-cell and material producers also use Li-Cycle’s recycling services.
10-K for FY2024, filed Mar 31, 2025
10-K for FY2024, filed Mar 31, 2025
Revenue For the year ended December 31, 2024 For the year ended December 31, 2023 Customer A 24.0 % 10.3 % Customer B 11.0 % 0.0 % Customer…View ↗
Did Revenues Turn Into Profits?
No. It lost $137.7M in FY2024.
10-K for FY2024, filed Apr 1, 2025
How Were They Changing?
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May 19, 2025
Li-Cycle entered creditor protection and began a court-supervised sale process
Glencore agreed to bid at least $40 million for certain subsidiaries and assets and assume certain liabilities, subject to court approval.
Sources
8-K, filed May 19, 2025
Additionally, the Li-Cycle Group has entered into an equity and asset “stalking horse” purchase agreement (the “Stalking Horse Agreement”)…View ↗
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May 2, 2025
Ajay Kochhar stepped down from the board and CEO role
Sources
8-K, filed May 2, 2025
Effective as of April 30, 2025, Mr. Ajay Kochhar has stepped down from the Board of Directors of the Company and, on May 15, 2025, will…View ↗
Recycling services revenue
The earlier report described the model as centered on sales of recovered raw materials. The latest report also identifies battery-recycling services, including logistics coordination and battery destruction, as a revenue source.
20-F for FY2021, filed Jan 31, 2022 10-K for FY2024, filed Mar 31, 2025Li-Cycle is an industry leader in lithium-ion battery resource recovery and the leading lithium-ion battery recycler in North America. When…View ↗
i.Sale of products which includes black mass and products analogous to black mass that have a similar metal content (collectively, “Black…View ↗
Rochester Hub product plan
The earlier Hub plan included nickel sulphate, cobalt sulphate and lithium carbonate; the revised scope centers on lithium carbonate and MHP, with no current plans for the two sulphates.
20-F for FY2021, filed Jan 31, 2022 10-K for FY2024, filed Mar 31, 2025At our Hub facilities, black mass from the Spokes will be separated through the hydrometallurgical circuit to produce individual raw…View ↗
On October 23, 2023, the Company announced that it was pausing construction work on its first planned commercial scale Hub project, in…View ↗
Who Did They Compete With?
Competes with Ascend Elements, Cirba Solutions, Redwood Materials, BASF, Umicore, and SK-Tes
10-K for FY2024, filed Mar 31, 2025In addition to Li-Cycle, other key players in the North American and European lithium-ion battery recycling market include Ascend Elements…View ↗
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