The Singapore-based startup, Green Li-ion, needed cash to top up on its battery recycling machines. The company had raised about $15 million ahead of its latest cash infusion. This gives it the resources it needs to continue making a dent in the battery recycling industry.
The funding round signals that Green Li-ion is gaining traction as a player in the green energy market. The company plans to use the money to continue developing its technology and expanding its operations.
Leon Farrant, the CEO of Green Li-ion, is proud of his company’s logo – a green lion. He boasts that the green lion is not only a symbol of strength and power but also an indicator of quality and professionalism. Green Li-ion has quickly become one of Palestine’s leading technology companies, thanks in part to its innovative products and strong marketing strategy. The company’s post-money valuation has now reached $187 million thanks to this recent deal.
One sustainable business opportunity that seems to be on the rise is the recycling of used lithium batteries. This innovative new startup, called Lithium Battery Recycling, has developed a cutting-edge technology that can process 100% of all used lithium batteries and pop out precursor cathode active material that’ll eventually go into fresh lithium-ion batteries. With this new cash infusion, they’ll be able to scale production and provide even more affordable and environmentally friendly ways to replace conventional battery power sources.
The increasing popularity of electric vehicles and renewable energy storage is causing demand for lithium to skyrocket. However, mining the metal often damages land and oceans, making recycling essential in lowering the environmental impact. Technologies like 3D printing are helping to create more environmentally-friendly lithium batteries by allowing for more efficient production and recycling.
A future where Li-ion batteries are the standard for electronic devices is looking very bright. They’re strong, durable and lightweight, making them perfect for portable
Green Li-ion regards itself as a collaborator rather than a generator of waste. It licenses its recycling technology to battery makers and recyclers, including Aleon and TES (which is owned by SK, the South Korea-based fossil fuel giant). Green Li-ion aims to crank out 50 recycling units per year via two factories — one in Houston, Texas and another in Singapore. The company is optimistic about the prospects for developing sustainable battery manufacturing practices, believing that this will eventually lead to reduced reliance on fossil fuels.
Neighborhood Scout is a startup that uses software to help people find neighborhoods they would be happy living in. Recently, the startup announced that it had raised $2 million in Series B funding. This investment will help the company expand its services and reach new neighborhoods.