NEU Battery Materials closes $7.6 million funding round for LFP battery recycling
NEU Battery Materials has raised $7.6 million to scale its lithium iron phosphate battery recycling activities. The funding is intended to support expansion of a recycling process for LFP batteries.
NEU Battery Materials has closed a $7.6 million funding round to scale up lithium iron phosphate (LFP) battery recycling.
According to the source, venture capital firm Shift4Good and Singapore government-backed investor SGInnovate are among the backers.
The company recycles LFP batteries and says the new funding will help it expand this work.