Lithium-ion batteries are a much more technologically advanced alternative to traditional batteries. Yet, these lithium-ion batteries, contain corrosive materials and heavy metals that can be detrimental to the environment. To ensure sustainable consumption of such batteries, recycling of lithium-ion batteries is important which not only conserves critical minerals and materials; but is also the most viable approach to their disposal. Working to streamline this process, BatX Energies, a lithium-ion battery recycling company; has raised $5 million in a pre-Series A round led by Zephyr Peacock.
The round also saw participation from Lets Venture; and existing investors JITO Angel Network and the family offices of Mankind Pharma, Excel Industries, and BluSmart.
“We are directing resources towards pioneering R&D initiatives, elevating the production of superior battery-grade materials. This investment propels our mission to expand globally and establish microfacilities nationwide, fostering a future where clean energy is not just a choice but a standard,” said Vikrant Singh, co-founder of BatX Energies.
According to the company, it aims to expand its operations in the spheres of repair, recycling, and refurbishment. The fresh funds will also go towards enhancing commercial research and development and focusing on the extraction of lithium ferro-phosphate salts from used batteries. BatX emphasised that maintaining control over R&D is a distinguishing factor for the company; and will enable it to keep prices competitive.
The company aims to grow its capacity for hy-electro-based material extraction, develop pCAM from recycled battery minerals, and create second-life stationary energy storage from used batteries. pCAM, a crucial powder for lithium-ion batteries, contains nickel, cobalt, and other chemicals.
About BatX Energies
Established in 2020 by Utkarsh Singh and Vikrant Singh; BatX Energies strives to employ environmentally friendly, reusable, chemical-based extraction technologies for lithium-based batteries with low opex and capex. Creating a circular economy, the extracted rare metals like Lithium, Cobalt, Nickel, and Manganese from used lithium-ion cells can go back into manufacturing lithium-ion batteries.
“At BatX, we envision a transformative approach to the extraction of Li-ion battery materials, addressing the environmental complexities it entails. While these batteries are vital for clean energy and technological advancements, their current extraction methods present daunting environmental challenges—high carbon emissions, land degradation, excessive water usage, and contamination risks. We are very focused on reducing the critical material imports for India and producing them by recycling, thus making India Atma Nirbhar,” said co-founder Utkarsh Singh about the investment.
The company revealed that they have established partnership with the material science research department of BML Munjal University. These collaborations not only help in integrating the latest technologies but also provide BatX with an edge over competitors.
“India is witnessing rapid adoption of Electric Vehicles (EVs) and personal electronics. This rapid growth has led to an increase in demand for raw materials, most of which are imported. BatX solves this issue by converting used batteries into critical materials for new batteries. The company is poised to become a crucial stakeholder in the battery supply chain in India, as recyclers will be a significant source of critical materials for Li-ion battery manufacturing,” said Pankaj Raina, Managing Director, Zephyr Peacock.
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