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Battery recycling startup receives financing for commercial-scale plant

Battery Resourcers, a battery recycling and manufacturing company, recently completed a $20-million Series B equity round to support the development of a commercial-scale processing facility with the annual capacity to recycle 10,000 tons of batteries—roughly the amount of batteries from 20,000 EVs.

Battery Resourcers’ approach to battery manufacturing starts with a mixed stream of used lithium-ion batteries and ends with the production of finished, battery-ready cathode materials. The company says its 97% metal recovery rate can produce NMC-based cathode materials with a 35% reduction in cost, 32% reduction in emissions and 13% reduction in energy consumption compared to the production of cathodes from virgin materials.

The company is also engineering a process for graphite recovery and purification, which will enable it to return both the cathode and anode active materials to manufacturers of new batteries.

“Battery Resourcers is on the verge of revolutionizing the lithium-ion battery supply chain,” said CEO Mike O’Kronley. “Being able to convert scrap and end-of-life battery materials into finished, cathode active material that can be directly used in making new batteries drives increased profitability and stability for the lithium-ion battery ecosystem.”

O’Kronley said Battery Resourcers is also helping the EV industry address several complex environmental and regulatory issues. As lithium-ion batteries are discarded during manufacturing or reach their end of life, finding new ways to recycle and reuse materials will reduce reliance on mined metals. 

Orbia CEO Sameer Bharadwaj said, “The recycling of critical battery components into cathode active material is a value leap in getting to sustainable and scalable production of lithium-ion batteries. By integrating refinement and materials engineering processes, we believe Battery Resourcers’ approach can stabilize the cathode supply chain in North America while accelerating the shift to a clean, circular future.”

Source: Battery Resourcers

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