Green Li-ion, a Singapore-based lithium-ion battery recycling technology company, raised USD$20M in Pre-Series B funding.
The round was led by TRIREC, Banpu NEXT and Equinor Ventures. Other investors in the round include EDP, Envisioning Partners, ER-V, SOSV, TES, LINICO, EF, DPI Energy Ventures, the Decarbonisation Consortium, ISDonseo, MBEP, and GS.
The company intends to use the funds to scale its manufacturing to deliver 50 of its modular units per year.
Led by CEO Leon Farrant, Green Li-ion The company has developed novel technology that processes 100% of all used lithium batteries. It recycles all metals to directly re-manufacture battery-grade cathode material ready for re-use in new batteries. Green Li-ion’s technology installation will be among the first in the US to produce battery-grade precursor cathode active material (pCAM), graphite, and lithium carbonate from spent lithium-ion batteries.
The company has raised a total of approximately USD$36 million to date.