Li-Cycle Holdings Corp. Common Shares (LICY)

Competitors to Li-Cycle Holdings Corp. Common Shares (LICY)

Redwood Materials

Redwood Materials is a key competitor to Li-Cycle, as it also specializes in the recycling of lithium-ion batteries and the sustainable supply chain for battery materials. Founded by former Tesla CTO JB Straubel, Redwood has a significant competitive advantage due to its strong connections with major automotive manufacturers and battery producers, as well as substantial investment backing. Their focus on closed-loop recycling and the development of a comprehensive battery recycling ecosystem may grant them a first-mover advantage in establishing strategic partnerships, while Li-Cycle has an established recycling process that is growing rapidly but does not yet match Redwood's scale.

American Battery Technology Company

American Battery Technology Company (ABTC) competes with Li-Cycle Holdings by focusing on the development of sustainable battery recycling processes and resource recovery systems aimed at minimizing environmental impact. While both companies target the growing demand for lithium-ion battery recycling, ABTC places a stronger emphasis on the development of its own proprietary processes and technologies for lithium resource extraction and battery recycling, aiming to close the loop in battery production. However, Li-Cycle has established a larger operational footprint with existing facilities and partnerships, giving it an edge in scalability and market presence.

Ascend Elements

Ascend Elements and Li-Cycle compete in the lithium-ion battery recycling space, but Ascend places a significant emphasis on sustainable battery materials production and innovative recycling methods. Ascend's competitive advantage lies in its patented process to recover high-purity materials that can be reused in battery manufacturing. Their operations focus more on both material recovery and manufacturing entirely new battery components from recycled materials. With increasing demand for a circular economy in battery production, Ascend Elements is well-positioned, but Li-Cycle's larger existing infrastructure allows it a stronger foothold in the market currently.

Umicore 

Umicore is a global materials technology and recycling company that competes with Li-Cycle through its extensive experience in the recycling of precious metals, including those used in batteries. Umicore leverages its established infrastructure and decades of expertise to provide a broad range of recycling services, which gives it a significant competitive advantage in the European market. While Li-Cycle focuses primarily on lithium-ion battery recycling in North America and is ramping up its capacity, Umicore's global footprint and diversified offerings provide it with an edge in operational efficiency and market reach.