Li Industries, a Blacksburg, VA-based early-stage lithium-ion battery (LIB) recycling firm, raised $7M in Sequence A financing.
The spherical was led by Khosla Ventures, with additional participation from Xerox Ventures and Shell Ventures.
The corporate intends to make use of the funds to increase operations and proceed to increase its improvement efforts.
Based in 2017 and led by CEO, co-founder and first inventor of the recycling course of, Dr. Zheng Li, Li Industries is a local weather tech firm creating scalable direct recycling applied sciences for lithium- ion batteries from electrical autos and shopper electronics. The corporate has developed an progressive means of automated battery sorting by chemistry sort and a novel direct recycling course of that recovers battery electrode supplies appropriate for direct re-use by battery producers. The recycled battery electrode materials can then be equipped instantly again to battery producers at decrease value than virgin supplies or recycled supplies obtained by way of current recycling approaches.