TLDR:
- Li Industries, a developer of lithium-ion battery recycling technologies, raised $36M in Series B funding.
- The round was co-led by Bosch Ventures, Khosla Ventures, and LG Tech Ventures.
Li Industries, a Pineville, NC-based company, recently announced that they have secured $36M in Series B funding. The funding round was co-led by Bosch Ventures, Khosla Ventures, and LG Tech Ventures, with additional investment from Formosa Smart Energy Tech Corp., Anglo American Decarbonization Ventures, and Chevron Technology Ventures. This brings Li Industries’ total funding to date to support the development of their lithium-ion battery recycling technologies.
The company, led by Dr. Zheng Li, specializes in developing next-generation recycling technologies for lithium-ion batteries used in electric vehicles and consumer electronics. Their proprietary direct recycling process can recycle all types of lithium-ion batteries and produce high-purity commercial-grade battery materials. With this new funding, Li Industries plans to construct a 10,000 ton recycling facility powered by their Direct Electrode-to-Electrode (Direct E2E TM) recycling technology.
This expansion follows their previous Series A funding, which enabled the development of a 500-ton battery recycling facility in Pineville, NC, and a 1,000-ton battery sorting facility in Charlotte, NC. The company is focused on advancing sustainable solutions for battery recycling to support the growing demand for electric vehicles and electronic devices while reducing environmental impact.
