Sunya Get smarter about energy transition
  • Home
  • Industry News
  • Newsletter
  • Podcast
  • Contact Us
Sunya
Industry News
May 9, 2024

Li Industries Raises Series B Funding to Expand Next-Generation Battery Recycling Technology

Newsfeed
Li Industries Raises Series B Funding to Expand Next-Generation Battery Recycling Technology:

PINEVILLE, N.C., May 9, 2024 /PRNewswire/ — Li Industries announced today the successful raise of a $36M Series B funding round to scale up its next-generation lithium-ion battery recycling technologies. The round was co-led by Bosch Ventures, Khosla Ventures and LG Tech Ventures with Formosa Smart Energy Tech Corp., Anglo American Decarbonization Ventures and Chevron Technology Ventures coming in as new investors. They join existing investors, Shell Ventures and Myriad Ventures, to back Li Industries’ mission of providing the most circular, cost-effective, and sustainable solution for lithium-ion battery materials, under the guidance of Nobel Laureate Dr. M. Stanley Whittingham. Given investors’ interest, Li Industries plans to expand the round to $42M, which would bring its total private funding to more than $50M.

This new round of funding solidifies Li Industries’ growth trajectory to meet its partners’ growing needs for battery recycling services and battery materials. The capital raised will be used to construct a 10,000 ton recycling facility powered by Li Industries’ proprietary Direct Electrode-to-Electrode (Direct E2ETM) recycling technology.

This expansion builds on the company’s Series A funding, which enabled the development of a 500-ton battery recycling facility in Pineville, NC, and a 1,000-ton battery sorting facility in Charlotte, NC.

“We are thrilled to be backed by such a strong group of investors,” said Dr. Zheng Li, co-founder and CEO of Li Industries. “Our investors bring invaluable resources, experience, and commercial partnerships that are essential for us to successfully scale and commercialize our Direct E2E™ technology.”

Ingo Ramesohl, Managing Director at Bosch Ventures, commented on the investment: “Li Industries is poised to tackle significant challenges in the Li-ion battery’s circular supply chain with innovative, scalable solutions. They are the first and only company in the US capable of economically and sustainably recycling low/no cobalt batteries, such as Lithium Iron Phosphate (LFPs), at scale using their unique Direct E2E™ recycling technology.”

Anshul Agarwal, Managing Director of LG Technology Ventures, said: “Our investment signifies the beginning of a robust partnership with Li Industries aimed at developing a truly sustainable and efficient supply chain for lithium-ion battery manufacturing.”

“We invested in Li Industries early on and have watched them hit their technical and commercial milestones through the years,” said Rajesh Swaminathan, Partner at Khosla Ventures. “Their ability to scale and commercialize their technology lays a solid foundation for further growth, and we are excited to continue supporting their journey.”

For more information, please contact [email protected].

About Li Industries

Li Industries is an innovative and fast-growing climate tech company developing next-generation lithium-ion battery recycling technologies. Founded in 2017 and headquartered in Pineville, NC, Li Industries has developed scalable direct recycling technologies for lithium-ion batteries from electric vehicles and consumer electronics. Li Industries’ unique and patented direct recycling process can recycle all types of lithium-ion batteries and generate high purity commercial-grade battery materials faster, cheaper, and cleaner, enabling effective and sustainable recycling. For more information, please visit: https://www.li-ind.com.

SOURCE Li Industries

TAGS: #industrynews
PREVIOUS ARTICLES
Home > Industry News
May 9, 2024

Standard Chartered : Commitment to reducing methane emissions

NEXT ARTICLES
Home > Industry News
May 9, 2024

Cemvita Achieves Breakthrough in SAF Feedstock Production

Comments are closed.
Related Post
November 18, 2024
Aramco, SINOPEC, and Fujian Petrochemical break ground
July 24, 2024
TotalEnergies launches 100 MW / 200 MWh
November 19, 2024
OnStream receives $26mm in federal funding for
July 10, 2025
Morgan Stanley Infrastructure Partners Agrees to Sell

Recent Posts

  • Ormat Technologies Announces Strategic Commercial Agreement With Sage Geosystems Inc.
  • Group14 Closes US$463M Series D Funding Round and Acquires 100% Ownership of BAM Factory in South Korea from SK, Inc.
  • GDEV Management Announces Over $200MM of Fund II Capital Commitments to Scale Distributed Energy Platforms Across North America
  • Green Plains Enters into Agreement to Sell Obion, Tennessee Plant to POET
  • Commonwealth Fusion Systems Raises $863 Million Series B2 Round to Accelerate the Commercialization of Fusion Energy

Archives

  • August 2025
  • July 2025
  • June 2025
  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023

Categories

  • Industry News
  • Newsletter
  • Podcast
Scroll To Top
© Copyright 2024 Sunya Technologies Inc.