Li-Cycle recognized as circular economy innovator by World Circular Economy Forum
Li-Cycle has been named to Sitra's Inspiring Circular Economy Solutions from Around the Globe ahead of the 2020 World Circular Economy Forum Online. The WCEFonline is a fully virtual event that will dive into why and how a circular economy can help to reboot and build resilience in the global economy.
Li-Cycle Technology is a closed loop, economically viable, safe, sustainable and scalable processing technology that provides a solution to the global lithium-ion battery recycling and resource recovery problem. The technology recovers 95% of all materials found in lithium-ion batteries.
Li-Cycle has completed numerous stages of research and development, along with physical validation workstreams, to successfully roll out its first Commercial Spoke and Demonstration Hub in Ontario, Canada. The company is currently in the process of building Commercial Spoke 2 in Rochester, New York and will then continue to execute its commercial rollout plan in North America, Europe and Asia.
Sitra, an innovation fund that operates as an independent public foundation directly under the Finnish government, currently studies, researches and brings together partners from different sectors in open-minded paths and reforms. Their future-oriented work is aimed at making Finland succeed as a pioneer of sustainable well-being. As an independent fund, Sitra has been commissioned with the task of probing the future and promoting qualitative and quantitative economic growth. The WCEF is an annual landmark event that brings together business leaders, policymakers, and experts to present the world's best circular economy solutions.
Ajay Kochhar and Tim Johnston co-founded Li-Cycle in 2016, with a vision to be the most sustainable, vertically integrated and globally preeminent lithium-ion battery resource recovery company. Li-Cycle is committed to providing sustainable and safe customer-centric solutions and technology to solve the global end-of-life cycle lithium-ion battery challenges, and to close the loop in the lithium-ion battery supply chain. The company provides a full-service resource recovery solution for all types of lithium-ion batteries used in electronic devices, e-mobility, electric vehicles, and energy storage.
Since its inception, the company has developed and validated Li-Cycle's Spoke & Hub technologies - patented, unique and sustainable processes that allow for the recovery of all critical materials found in lithium-ion batteries. This process is capable of producing battery-grade materials such as cobalt, lithium, and nickel at purities required for battery manufacturing. Li-Cycle's processing technology uniquely positions the company to support the growing international movement towards a zero-carbon economy, as well as the creation of a circular economy for lithium-ion batteries. By providing the same critical materials via a resource recovery process, Li-Cycle is committed to minimizing the environmental impact of lithium-ion battery manufacturing.
"Li-Cycle is thrilled to have been recognized as one of the top 39 most inspiring circular economy solutions," said Tim Johnston, co-founder of Li-Cycle. "We're actively working to rapidly expand the circular supply chain as it relates to lithium-ion batteries; in fact, earlier this month we announced our first commercial lithium-ion battery recycling Hub in Rochester, New York. We believe Li-Cycle's innovative solution will be key in providing a secondary source of critical materials from spent batteries in an economic and sustainable way."