TLDR:
- Li Industries, a provider of direct recycling technologies for lithium-ion batteries, raised $6M in Series B funding, bringing the total to $42M.
- New backers included General Motors Ventures, DNX Ventures, and Tech Energy Ventures.
Li Industries, based in Pineville, NC, closed a $42M Series B funding round with an additional $6M commitment from investors, including General Motors Ventures, DNX Ventures, and Tech Energy Ventures. Led by CEO Zheng Li, the company specializes in direct recycling technologies for lithium-ion batteries from electric vehicles and consumer electronics. Their patented process can recycle all types of lithium-ion batteries and generate high purity commercial-grade battery materials. The funding will be used to scale operations, develop partnerships, expand their 10,000 tonne recycling facility, and further enhance their recycling technologies. This brings Li Industries’ total funding to over $50M, positioning them for continued growth and innovation in the sustainable recycling industry.
