BatX Energies Secures $5 Million Investment to Expand Lithium Battery Recycling Technology

BatX Energies raises $ five million in pre-series funding, fueled by Zephyr Peacock, in participation with Lets Venture and existing investors JITO Angel Network and the family offices of Mankind Pharma, Excel Industries and BluSmart.

The company raised investments to promote the scaling of the hy-electro-based critical material extraction and refining capacities, commercial R&D for pCAM development from recycled battery minerals and the commencement of the commercial-scale second-life stationary energy storage applications (ESS and BESS) production unit. 

Furthermore, this funding infusion will be instrumental in expediting BatX’s market expansion efforts within India and on a global scale. Additionally, it will support the establishment of new microfacilities (spokes) across the nation, enhancing the operational footprint for increased accessibility and efficiency, said BatX in its release.

Utkarsh Singh, co-founder and CEO of BatX Energies, said, “These batteries are vital for clean 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. With this growth capital, we will showcase tremendous developments in setting up industry standards. This investment signifies our unwavering commitment to reshaping the energy sector and circular economy.”

The company effectively transforms used batteries into battery-grade materials. With its IP and proprietary zero-waste, zero-emission hydro-electro process, BatX extracts 99.95 per cent pure lithium, nickel and cobalt from the black mass in high yield; 220 million batteries have already been recycled.

“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. We are excited to partner with the BatX team on this journey,” said Pankaj Raina, Managing Director, Zephyr Peacock.