Portfolio News
Portfolio company NEU Battery Materials opened 12,000 sq ft facility in Singapore
The plant can process 1,300 tonnes of battery materials a year.
In February 2022, we backed NEU Battery Materials at seed stage. It was a lab bench and a process for recovering lithium from LFP batteries. This week, their first recycling plant opened in Singapore, with capacity to process 1,300 tonnes of LFP material a year.
The milestone matters beyond Singapore. Europe is building cell factories, but around 85% of the world’s cathode active materials are produced in China. Without materials, cells still depend on imported inputs.
Recycling builds resilience into that chain. As LFP manufacturing grows in Europe, production scrap becomes an immediate source of recoverable lithium, with end-of-life batteries following over time. Putting that lithium back into battery production reduces the need to import it.
That’s what NEU is building towards.
Read the news in TechinAsia and on CNA.
