WORCESTER, MA, Battery Resourcers has completed a $20 million Series B equity round with financing led by Orbia Ventures.
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 round included participation from other investors including At One Ventures, TDK Ventures, TRUMPF Venture, Doral Energy-Tech Ventures and Jaguar Land Rover's InMotion Ventures.
Battery Resourcers offers a fundamentally 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 can produce Nickel Manganese Cobalt (NMC)-based cathode active materials with 35% reduction in cost, 32% reduction in emissions, and 13% reduction in energy consumption compared to the production of virgin cathode.
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