Li-ion Battery Recycling Firm BatX Energies Raises $5 Million Funding

BatX Co-founders Utkarsh Singh and Vikrant Singh

Indian Lithium-ion battery recycling firm BatX Energies raised $5M in Pre-Series A Funding, fueled by Zephyr Peacock in participation with Lets Venture, and existing investors JITO Angel Network and Family offices of Mankind Pharma, Excel Industries, BluSmart and others. 

Setting up the momentum for the Lithium-ion Battery recycling industry in India, the funds will turbocharge market expansion and scaling of recycling operations across the country, the firm said in a media statement. 

The company is poised to make investments to speed the scaling up of the Hy-electro-based critical material extraction and refining capacities, commercial R&D for pCAM development from recycled battery minerals, and commence the commercial scale second life stationary energy storage applications (ESS & BESS) production unit. 

This enables a full-stack recycling and refurbishing solution for OEMs and their customers. Furthermore, this funding infusion will be instrumental in expediting BatX’s market expansion efforts within India and globally. 

Additionally, it will support establishing new micro facilities (spokes) across the nation, enhancing their operational footprint for increased accessibility and efficiency.

Conceived by a passion for Material Sciences, Technology Development, and Operations, BatX was established in 2020 by Utkarsh Singh and Vikrant Singh, now standing at the forefront of Lithium-ion (Li-ion) battery recycling. The company ingeniously transforms used batteries into battery-grade materials. With its IP and proprietary zero-waste, zero-emission hydro-electro process, BatX extracts 99.95% pure Lithium, Nickel, Cobalt from the black mass high yield. The pioneering battery recyclers have already recycled an impressive 220 million batteries, exemplifying its unwavering dedication to sustainable practices and environmental excellence with the aid of its in-house developed machines and processes.

Speaking about the investment, Utkarsh Singh, Co-founder & CEO of BatX Energies said, “While 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 imports of the critical materials for India and producing them by recycling, thus making India Atma Nirbhar.”

“With this growth capital, we will showcase tremendous developments on setting up industry standards. This investment signifies our unwavering commitment to reshaping the energy sector and circular economy. It advances our mission to amplify efforts towards a sustainable future for generations ahead and job creation for the green sector.”

“Through strategic allocation of these funds, we’re poised to power our vision of sustainable energy solutions. We’re 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 micro facilities nationwide, fostering a future where clean energy is not just a choice, but a standard,” said  Vikrant Singh, Co-founder & CTO, BatX Energies.