$70m in fresh funding is secured by Battery Resourcers

$70m in fresh funding is secured by Battery Resourcers: Battery Resourcers announced that it has secured a new investment of $ 70 million (£ 51.3 million) as part of its latest mid-round funding.

The lithium-ion battery manufacturing and recycling company will use the funds to commercialize its production of sustainable active material for sealed batteries.

It is committed to advancing and expanding its technology that accepts mixed inputs from waste batteries and end-of-life batteries to manufacture cathode material, as well as expanding commercial facilities that will be operational in the US and Europe by the end of 2022.

“With the influx of lithium-ion batteries hitting the market and increased demand for recycled content, the need for battery end of life solutions is more prevalent than ever.” said Michael O’Kronley, CEO and Director of Battery Resources.

“This most recent funding round supports Battery Resourcers’ ongoing expansion in the US and extends it to Europe to reinforce our mission of closing the loop on the battery material supply chain.”

Hitachi Ventures is the youngest investor to join others such as Orbia Ventures, Jaguar Land Rovers InMotion Ventures, Doral Energy, At One Ventures, TDK Ventures and Trumpf Ventures.

“Battery Resourcers develops key technologies for full battery circularity returning of active materials back into the supply chain in the most sustainable and responsible way. The investment supports our mission at Hitachi Ventures to solve environmental challenges and reduce carbon emissions.” added Tobias John, Partner at Hitachi Ventures.

$70m in fresh funding is secured by Battery Resourcers

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