NEU Battery Materials bags US$7.6M to mine lithium from the world’s least-loved battery

What happened

The company has closed an oversubscribed US$7.6 million round co-led by Shift4Good, a venture platform that invests in decarbonising transport and energy, and SGInnovate, the Singapore government-backed deeptech investor. Lithium iron phosphate (LFP) batteries have an awkward reputation among recyclers: they are everywhere, and they are worth very little once they die.

Unlike the nickel- and cobalt-rich chemistries that recyclers have chased for a decade, a spent LFP cell offers no precious-metal jackpot. It holds lithium, iron and phosphate, and two of those are […] The post NEU Battery Materials bags US$7.6M to mine lithium from the world’s least-loved battery appeared first on e27 .

It holds lithium, iron and phosphate, and two of those are cheap enough to make dismantling the thing look like a charity exercise. Singapore-based NEU Battery Materials is betting it can make that maths work.