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BatX Energies Secures USD 5M for Lithium-Ion Battery Recycling Expansion

Founded in 2020 by Utkarsh Singh and Vikrant Singh, BatX Energies employs an innovative approach to convert ingeniously used batteries into battery-grade materials.

December 19, 2023. By Abha Rustagi

BatX Energies, a start-up specializing in lithium-ion battery recycling, has successfully secured USD 5 million (INR 42 crore) in pre-Series A funding.

The funding round was led by Zephyr Peacock, with participation from Lets Venture, JITO Angel Network, and existing investors such as the Family offices of Mankind Pharma, Excel Industries, and BluSmart.

The company has outlined strategic areas for fund utilization, including the scaling up of the Hy-electro-based critical material extraction and refining capacities, commercial research and development for pCAM development from recycled battery minerals, and the establishment of a commercial-scale second life stationary energy storage applications (ESS & BESS) production unit.

BatX Energies is set to offer a full-stack recycling and refurbishing solution for Original Equipment Manufacturers (OEMs) and its customers.

Founded in 2020 by Utkarsh Singh and Vikrant Singh, BatX Energies employs an innovative approach to convert ingeniously used batteries into battery-grade materials. The company's proprietary zero-waste, zero-emission hydro-electro process extracts 99.95 percent pure lithium, nickel, and cobalt from the black mass high yield. With in-house developed machines and processes, BatX Energies has already successfully recycled 220 million batteries.

Utkarsh Singh, Co-founder and CEO of BatX Energies, expressed the company's commitment to transforming lithium-ion battery material extraction to address environmental complexities. “At BatX, we envision a transformative approach to the extraction of Li-ion battery materials, addressing the environmental complexities it entails. 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 critical materials imports for India and producing them by recycling, thus making India Atma Nirbhar," he said.

This funding marks a significant milestone for BatX Energies, positioning it at the forefront of the green sector and contributing to the circular economy, while simultaneously addressing environmental challenges associated with traditional battery material extraction methods.

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Business

Lithium-ion batteries

Lithium-ion

Battery Recycling

Batx Energies

Li-ion battery materials

Environmental sustainability