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        Princeton NuEnergy (PNE), a company that repurposes lithium-ion battery materials, has raised USD 10.3 million in a Series A funding round led by SCGC, Tech Council Ventures, and a subsidiary of LKQ Corporation.
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        PNE will use&nbsp;the funds to construct an Advanced Black Mass and Cathode Manufacturing Center in the southeastern US &quot;battery belt.&quot;
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        <b>Analyst QuickTake:</b>
         The company previously raised USD 16 million in a Series A funding round in 
        <a href="https://sp-edge.com/updates/23553">
          November 2023
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         to enhance its processing capacity. This was preceded by a USD 4.4 million grant from the US Department of Energy in 
        <a href="https://sp-edge.com/updates/21712">
          September 2023
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        .
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    <a href="https://www.prnewswire.com/news-releases/princeton-nuenergy-pne-raises-additional-10-3-million-in-series-a-funding-to-advance-lithium-ion-battery-direct-recycling-technology-302142991.html">
      Press release
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Waste Recovery & Management Tech

ANALYST_QUICK_TAKE

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 <p>Princeton NuEnergy (PNE), a firm specializing in repurposing lithium-ion battery materials, has garnered USD 10.3 million in its Series A funding round. Leading participants in the round include SCGC, Tech Council Ventures, and a division of LKQ Corporation.</p>
 <p>The funds secured will be utilized by PNE to erect an Advanced Black Mass and Cathode Manufacturing Center situated in the southeastern region of the US, also known as the "battery belt".</p>
</div> <p><b>Analyst QuickTake:<br>
</b> The company previously raised USD 16 million in a Series A funding round in <a href="https:<br>
//sp-edge.com/updates/23553"> November 2023 </a> to enhance its processing capacity. This was preceded by a USD 4.4 million grant from the US Department of Energy in <a href="https:<br>
//sp-edge.com/updates/21712"> September 2023 </a> .</p>

Princeton NuEnergy raises USD 10.3 million in Series A funding to construct manufacturing facility

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 <p>Li Industries, a battery recycling solution provider based in Virginia, has secured USD 36 million in a Series B funding round. The round was led by Bosch Ventures, Khosla Ventures, and LG Technology Ventures, with Formosa Smart Energy Tech Corp, Anglo American Decarbonization Ventures, and Chevron Technology Ventures also participating. Existing investors Shell Ventures and Myriad Ventures also contributed.</p>
 <p>The funding will be directed towards building a 10,000-ton recycling facility which will make use of Li Industries' unique Direct Electrode-to-Electrode (Direct E2ETM) recycling technology.</p>
 </div> <p><b>Analyst QuickTake:<br>
</b> The company previously raised USD 7 million through a Series A funding round in <a href="https:<br>
//sp-edge.com/updates/12021"> August 2022 </a> to support its expansion efforts. The company also reports that it intends to expand the funding round to USD 42 million.</p>

Li Industries raises USD 36 million in Series B funding to construct recycling facility

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 <p>Illinois-based biotech startup Mycocycle has raised USD 3.6 million in a seed extension round. The company, which transforms industrial waste into new raw materials using fungi, saw investments from the Closed Loop Partners' Ventures Group, the TELUS Pollinator Fund for Good, U.S. Venture, Inc., and the Illinois Department of Commerce and Economic Opportunity INVENT Fund.</p>
 <p>The funds will be used by Mycocycle to strengthen relationships with its current waste material partners, expand its waste-to-value operations, and hire key personnel for their marketing, technology, and operations teams.</p>
</div> <p><b>Analyst QuickTake:<br>
</b> Previously in <a href="https:<br>
//sp-edge.com/updates/18386"> May 2023 </a> , the company raised USD 2.2 million in a seed round to expand its team and establish a model pilot facility. Mycocycle has since expanded its monthly mycelium-based waste treatments tenfold. The latest round brings the company’s total funding to USD 7.3 million.</p>

Mycocycle raises USD 3.6 million in seed extension funding to expand partnerships and operations

PROMINENT_CATEGORY

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 <p>US apparel brand Wrangler has announced partnerships with Beyond Retro, Accelerating Circularity, and the Texas Playboys Baseball Club to focus on waste reduction initiatives. The collaboration with Beyond Retro involves recycling old denim through the Reborn Collection, reducing the demand for new materials. The partnership with non-profit Accelerating Circularity focuses on textile recycling to create a new style of jeans that will roll out exclusively on Walmart's website. In a unique initiative, Wrangler is working with the Texas Playboys Baseball Club to create shade structures using upcycled denim scraps and cardboard.</p>
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Wrangler announces partnerships to recycle and upcycle denim

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 <p>Loop Industries, a firm recycling polyethylene terephthalate (PET) plastics and polyester fiber into recycled PET resin and polyester fiber, has formed a partnership with Ester Industries, a manufacturer of polyester films and specialty polymers based in India. Their collaboration aims at establishing an “Infinite Loop” manufacturing facility in India, which will recycle waste polyester into new feedstocks.</p>
 <p>The facility is set to annually produce&nbsp;70,000 tons of low-carbon recycled dimethyl terephthalate ("rDMT"), and 23,000 tons of recycled mono-ethylene glycol ("rMEG"). These products will be used in the manufacturing of polyester fiber, fabrics, and polyethylene terephthalate (PET) resin. The operation of the facility is anticipated to start in early 2027.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> The facility marks the latest development on a partnership between the companies that spans four years. In addition to being a low-cost manufacturing location, India is also attractive because of Ester Industries’ expertise in sourcing PET plastic and polyester fiber waste feedstocks. In <a href="https:<br>
//sp-edge.com/updates/25624"> January 2024 </a> , the company partnered with Reed to commercialize its technology in Europe.</p>

Loop Industries and Ester Industries form joint venture to recycle waste polyester in India

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 <p>Carbios, a biotech company specialising in the recycling of PET plastics and polyester fibres through an enzyme-based process, has conducted a groundbreaking ceremony for its new PET bio recycling facility based in Longlaville, France. With the support of the French State and the Grand-Est Region, the enterprise will receive funding of around EUR 54 million, equivalent to ~USD 58.2 million, as part of the broader France 2030 Plan.</p>
 <p>The facility promises to utilise Carbios' unique enzymatic bio recycling technology to decompose PET waste. The innovative process is eco-friendly and has a capacity to recycle as much as 50,000 tons of PET, including both packaging and textile waste, within a year. The full operational capacity of the plant is slated to be reached by the year 2026.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> In <a href="https:<br>
//sp-edge.com/updates/23460"> November 2023 </a> , the company secured ~USD 243 million for the plant from investors, including Indorama Ventures. The company also partnered with Landbell Group in <a href="https:<br>
//sp-edge.com/updates/27313"> February 2024 </a> to begin processing PET waste at the facility once it comes online in 2026.</p>

Carbios breaks ground on PET and polyester bio recycling plant

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 <p>Oxara, a construction solutions company from Switzerland, has secured an investment in a pre-series A funding round. The key investors include Samih Sawiris and buildify.earth, but the exact amount raised remains undisclosed.</p>
 <p>This funding will be directed towards enhancing Oxara's operations and aiding in the construction of their first building made without using any cement. This structure will incorporate Oxara’s patented technologies.</p>
 <p>Oxara, established in 2019, specializes in recycling excavation waste and construction materials. According to the company, their unique method can reduce carbon emissions by roughly 90%. As of April 2024, Oxara has carried out seven commercial pilots. Additionally, they collaborate with an industrial tolling partner for the production of their patented cement-free admixture and binder.</p>
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Oxara raises pre-series A funding to strengthen operations

INCUMBENTS_PRESENT

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 <p>Canadian textiles solutions provider Debrand has teamed up with specialty chemical and recycling company Eastman, to recycle waste material from global fashion and footwear brands.</p>
 <p>This collaboration uses Debrand’s waste collection abilities and Eastman's molecular recycling technology, which breaks down apparel waste to its molecular core to be repurposed into Naia Renew fibers. These fibers are made from sustainably sourced wood pulp and recycled waste materials. The partnership is currently in its pilot phase, with a goal to recycle 5,000 pounds of pre and post-consumer apparel waste.</p>
 
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Debrand and Eastman partner to recycle apparel waste into sustainable fibers

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 <p>Ananas Anam, known for their sustainable leather alternative "Piñatex," has teamed up with Dole Packaged Foods and design brand Rais Case. Their goal is to turn organic waste into fashion accessories.</p>
 <p>This collaboration has resulted in the limited-edition Vida Bag, designed by Rais Case. The bag is made from Piñatex, a vegan leather substitute produced from pineapple leaf fibers, which are sourced from Dole's farms in the Philippines.</p>
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Ananas Anam, Dole Packaged Foods, and Rais Case partner to create fashion accessories from organic waste

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 <p>ExPost Technology, a startup specializing in recycling lithium-ion batteries, has obtained a grant worth USD 8 million from the Resurgence program of the US Department of Energy. The funding will be used to further the company's development of a sophisticated machinery system known as PRIME, designed for pre-processing electronics and batteries. The funds will also help the company in expanding their team and collaborating with several firms to ensure the installation of the system at various recycling centers.</p>

 <p>PRIME, or Purification-Regeneration Integrated Materials Engineering, is a patent-pending process that utilizes water. The firm asserts that this process is wholly non-toxic and doesn't employ corrosive chemicals. In contrast to conventional procedures that decompose the battery into its rudimentary materials, PRIME functions by dismantling the batteries and rejuvenating certain components such as cathodes, anodes, and electrolytes.</p>
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All Updates

Princeton NuEnergy raises USD 10.3 million in Series A funding to construct manufacturing facility

Li Industries raises USD 36 million in Series B funding to construct recycling facility

Mycocycle raises USD 3.6 million in seed extension funding to expand partnerships and operations

Wrangler announces partnerships to recycle and upcycle denim

Loop Industries and Ester Industries form joint venture to recycle waste polyester in India

Carbios breaks ground on PET and polyester bio recycling plant

Oxara raises pre-series A funding to strengthen operations

Debrand and Eastman partner to recycle apparel waste into sustainable fibers

Ananas Anam, Dole Packaged Foods, and Rais Case partner to create fashion accessories from organic waste

ExPost Technology raises USD 8 million in grant funding to advance its battery recycling technology

Waste Recovery & Management Tech

Princeton NuEnergy raises USD 10.3 million in Series A funding to construct manufacturing facility

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