NEU Battery Materials raises $7.6 million to scale LFP battery recycling
By Eve
NEU Battery Materials has closed a $7.6 million funding round co-led by Shift4Good and SGInnovate to scale lithium iron phosphate (LFP) battery recycling. The capital will support ramping up battery-grade lithium production at NEU's 1,300 ton per year Singapore factory, which processes cathode scrap and end of life black mass, and fund international expansion. NEU's electrochemical redox targeting process uses electricity and water with regenerative chemicals, generating up to 83% lower emissions than conventional recycling methods.
Why it matters
With LFP batteries accounting for over 55% of all EV batteries globally, securing sustainable and cost-effective recycling capacity is critical for CPOs and fleet operators managing end of life vehicle batteries. NEU's lower-emission process and plans to reduce production costs could improve the economics of battery circularity for charging infrastructure investors.
Source
- Published
- 21 October 2026
- Updated
- 23 October 2026
In this story
- Topic
- Electric Vehicles
- Place
- United States
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