NEU Battery Materials
Assembly Line
♻️ NEU Battery Materials concludes oversubscribed US$3.7M Seed Funding Round
NEU Battery Materials, a Singapore-based lithium-ion battery recycling startup, has raised a total of US$3.7M in an oversubscribed Seed Funding Round led by SGInnovate, a Singapore government-backed Deep Tech investor and ecosystem builder. The round was also joined by ComfortDelGro Ventures, Shift4Good, Paragon Ventures I, and other angel investors.
The Singapore-based Deep Tech startup is pioneering an electrochemical redox targeting technology for the sustainable recycling of battery materials. Their patented process requires electricity as its only consumable, and utilises regenerative chemicals to avoid toxic waste and harsh acids. Being less polluting than more commonplace methods such as hydrometallurgy and pyrometallurgy, it paves the way for the wider adoption of a more sustainable way to recycle all forms of lithium-ion (Li-ion) batteries.