Podcast: Li-Cycle’s (LICY) Ajay Kochhar on Lithium Ion Battery Recycling and EVs

by | Aug 24, 2022

Ajay Kochhar, President, CEO and co-founder of Li-Cycle joins the pod to discuss the need for lithium ion battery recycling and how EVs will help propel them forward in a true sustainability play.

Ajay Kochhar is the co-founder, President, and CEO of lithium ion battery recycling company Li-Cycle (LICY). An engineering expert in the field, Ajay and his co-founder Tim Johnston set out to solve the problem of battery recycling as the proliferation of lithium ion has exploded (in large part thanks to EVs).

Li-Cycle has been a standalone public company for just over one year now having completed its DeSPAC transaction in August of 2021. We talk to Ajay about the business, path to profitability (look out for 2024), EVs, and life as a public company CEO.

While many DeSPACs have surely gotten beaten down, LICY stock price has held its own at ~$7, and has several positive headwinds at its back:

  • Real, commercial business with strong strategic partners (Koch, LG Chem, Glencore) and a healthy cash position
  • Fewer “pure-play” players as competition, proprietary technology
  • Growing market (EV) and looks to scale massively

Have a listen to Ajay below, interesting space to watch in the near term.

See their June Investor Presentation here

Topics Discussed

  • Ajay background and intro to Li-Cycle
  • Is it just EVs? What are the breakdowns of units / areas
  • How big can the recycling space grow?
  • Supply chain and importance of domestication
  • Customer relationships and revenue model
  • Competitive landscape and expansion
  • Reflections on life as a public company and DeSPAC

About Ajay Kochhar

Ajay Kochhar is the President and CEO, co-founder of Li-Cycle. Before founding Li-Cycle, Mr. Kochhar gained extensive technology and project development experience through progressive roles with Hatch’s industrial cleantech and advisory practices. While working in that space, he garnered in-depth engineering and project management experience through clean technology development in the lithium, cobalt, nickel, copper, gold, lead, zinc, molybdenum, and rare earth metals industries. His technical expertise spans the entire project lifecycle, from conceptual and pre-feasibility study to construction and commissioning. Mr. Kochhar is a graduate of the University of Toronto and holds a Bachelor of Applied Science (BASc) in Chemical Engineering.

Recent Analysis

Daily SPAC Update – May 24, 2024

QRDO To Liquidate at $10.96. ShoulderUp Extends with 1.1M Redemptions. BFAC Extension Vote. Churchill Investor Deck. DIST Merger Agreement.

Daily SPAC Update – May 23, 2024

MAQC + Immersed Inc. Deal Terminated. GPAC Deal Vote Set. IVCB Extends w/ 2.1M Redemptions. CVII Investor Deck. PWUP Redemption Agreement.

Subscribe to Boardroom Alpha Newsletters

Subscribe to Boardroom Alpha's research to receive the latest on governance, SPACs, and people.


The opinions and information contained herein have been obtained or derived from sources believed to be reliable, but Boardroom Alpha cannot guarantee its accuracy and completeness, and that of the opinions based thereon. 

This report contains opinions and is provided for informational purposes only – it does not constitute investment, legal or tax advice. You should not rely solely upon the research herein for purposes of transacting securities or other investments, and you are encouraged to conduct your own research and due diligence, and to seek the advice of a qualified securities professional before you make any investment.  

None of the information contained in this report constitutes, or is intended to constitute a recommendation by Boardroom Alpha of any particular security or trading strategy or a determination by BA that any security or trading strategy is suitable for any specific person. To the extent any of the information contained herein may be deemed to be investment advice, such information is impersonal and not tailored to the investment needs of any specific person.  

No representation or warranty, expressed or implied, is made on behalf of Boardroom Alpha as to the accuracy or completeness of the information contained herein. Boardroom Alpha does not accept any liability for any direct, indirect or consequential loss or damage suffered by any person as a result of relying on all or any part of this research and any liability is expressly disclaimed.