May 1, 2019 – Tyler Irving
Li-Cycle was little more than a drawing on the back of a napkin in a Yorkville coffee shop three years ago. Today, the startup founded by University of Toronto alumni is on the verge of an international expansion that its backers believe could fundamentally alter the way that lithium-ion batteries are recycled.
Ajay Kochhar (BASc 2013), the company’s co-founder and CEO, describes Li-Cycle as a resource recovery company focused on creating a closed-loop supply chain for the lithium-ion batteries that increasingly power everything from smartphones to automobiles.
“Tim Johnston, my co-founder, and I initially sketched out the Li-Cycle process in late 2016,” says Kochhar, who studied chemical engineering at U of T’s Faculty of Applied Science & Engineering.
“We started by looking at the financial model to see if the business could be viable. The initial answer that emerged was yes, so we were encouraged to pursue the opportunity further.”
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