Li-ion battery recycling and manufacturing startup Battery Resourcers completes $20M Series B
Battery Resourcers, a vertically integrated lithium-ion battery recycling and manufacturing company, recently completed a $20-million Series B equity round with financing led by Orbia Ventures, the venture capital arm of the multinational Orbia, and participation from other investors including At One Ventures, TDK Ventures, TRUMPF Venture, Doral Energy-Tech Ventures andJaguar Land Rover’s InMotion Ventures.
The financing will support the development of a commercial-scale processing facility with the annual capacity to process 10,000 tons of batteries the batteries from approximately 20,000 electric vehicles (EVs) a year.
Battery Resourcers offers a new approach to lithium-ion battery manufacturing, starting with a mixed stream of used lithium-ion batteries and ending with the production of finished, battery-ready cathode active materials. With 97% metal recovery, Battery Resourcers says
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WORCESTER, Mass., April 12, 2021 /PRNewswire/ Battery Resourcers, a vertically integrated lithium-ion battery recycling and manufacturing company, recently completed a $20 million Series B equity round with financing led by Orbia Ventures, the venture capital arm of the multinational Orbia, and participation from other investors including At One Ventures, TDK Ventures, TRUMPF Venture, Doral Energy-Tech Ventures andJaguar Land Rover sInMotion Ventures.
Battery Resourcers CEO Mike O’Kronley at the company s Novi, Mich. facility on April 9, 2021. On April 12, 2021, Battery Resourcers announced completion of a $20 million Series B equity round with financing led by Orbia Ventures and participation from international investors including At One Ventures, TDK Ventures, TRUMPF Venture, Doral Energy-Tech Ventures and Jaguar Land Rover’s InMotion Ventures.
Press release content from Business Wire. The AP news staff was not involved in its creation.
Global Lithium-Ion Battery Recycling Market to Reach $2.5 Billion by 2027 According to 2021 Report - ResearchAndMarkets.com
April 8, 2021 GMT
DUBLIN (BUSINESS WIRE) Apr 8, 2021
Amid the COVID-19 crisis, the global market for Lithium-Ion Battery Recycling estimated at US$1.6 Billion in the year 2020, is projected to reach a revised size of US$2.5 Billion by 2027, growing at a CAGR of 7% over the analysis period 2020-2027.
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Lithium-Nickel Manganese Cobalt, one of the segments analyzed in the report, is projected to record a 7.6% CAGR and reach US$1 Billion by the end of the analysis period.
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