In Pictures: NEU Battery Materials raises US$7.6M to scale LFP recycling and secure lithium supply

Demand for battery recycling is rising as electric vehicle adoption accelerates worldwide.

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NEU Battery Materials' patented process aims to recover battery-grade lithium from spent LFP cells.

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The Singapore-based startup plans to expand its recycling operations internationally following the funding round.

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LFP batteries are increasingly favored for grid storage and mass-market electric vehicles.

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The oversubscribed round was co-led by Shift4Good and SGInnovate.

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The company's 1,300-ton-per-year Singapore plant has already been commissioned.

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Recovered lithium from recycling could help ease supply pressures as global LFP demand surges.

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The new capital will support scaling production of battery-grade lithium.

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Battery recycling is gaining attention as a key pillar of the clean energy supply chain.

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