Green Li-ion Receives $20.5 Million Funding to Expand Sustainable Lithium-Ion Battery Recycling Technology Globally
Lithium-ion batteries have become an integral part of our lives, powering everything from our smartphones to electric cars. However, as the demand for these batteries increases, so does the amount of waste generated from them. This has led to a growing need for innovative and sustainable solutions for recycling lithium-ion batteries, which is where Green Li-ion comes in.
Green Li-ion, a startup focused on developing sustainable and efficient recycling technology for lithium-ion batteries, has secured $20.5 million in Pre-Series B funding. This new investment will help the company to further scale its technology and expand its global reach.
Founded in 2017, Green Li-ion has developed a unique and innovative approach to lithium-ion battery recycling that uses a closed-loop process. The company’s technology is capable of recovering over 95% of the valuable metals from used batteries, including lithium, cobalt, nickel, and manganese.
This approach not only helps to reduce the environmental impact of discarded batteries but also helps to conserve valuable natural resources. With the increasing demand for electric vehicles and other lithium-ion-powered devices, the need for a sustainable solution for battery recycling is more pressing than ever.
The funding round was led by venture capital firm Blue Horizon Ventures, which focuses on investing in companies that are working towards a sustainable future. Other investors included Horizons Ventures, 8090 Partners, and existing investors like Volvo Cars Tech Fund.
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According to Company’s CEO and co-founder, Kunal Phalpher, the new funding will enable the company to expand its operations globally and increase its production capacity. “We are thrilled to have the support of such a strong group of investors who share our vision for a more sustainable future,” said Phalpher.
The company plans to use the funding to build a new recycling facility in Europe, expand its operations in North America and Asia, and continue to innovate and develop its technology. This company’s ultimate goal is to become the leading provider of sustainable and efficient lithium-ion battery recycling technology.
In conclusion, Green Li-ion’s innovative and sustainable approach to lithium-ion battery recycling is a critical step towards building a more sustainable future. With the new funding, the company is well-positioned to expand its operations globally and help address the growing need for a sustainable solution to battery recycling. As the demand for lithium-ion batteries continues to grow, it’s vital that we invest in innovative and sustainable technologies like Green Li-ion to ensure that we can build a better future for ourselves and the planet.
SOURCE: Green Li-ion
