Li Industries, a Pineville, NC-based provider of direct recycling technologies for lithium-ion batteries, closed a $42M Series B funding with an additional $6M commitment from investors.
New backers included General Motors (GM) Ventures, DNX Ventures, and Tech Energy Ventures.
The company plans to further scale operations and develop synergistic partnerships.
Led by CEO Zheng Li, Li Industries has developed scalable direct recycling technologies for lithium-ion batteries from electric vehicles and consumer electronics. Its patented direct recycling process can recycle all types of lithium-ion batteries and generate high purity commercial-grade battery materials, enabling effective and sustainable recycling.
Li Industries plans to expand its 10,000 tonne recycling facility and further develop its cutting-edge recycling technologies.
This latest investment increases the company’s total funding to date to over $50M.
FinSMEs
27/06/2024