Green Li-ion, a Singapore-based lithium-ion battery recycling technology company, has raised USD 20.5 million in pre-Series B funding led by TRIREC (Singapore-based decarbonization venture capital firm), with participation from Banpu NEXT and Equinor Ventures. Other investors in the round include EDP, Envisioning Partners, ER-V, SOSV, TES, LINICO, EF, DPI Energy Ventures, the Decarbonisation Consortium, ISDonseo, MBEP, and GS. 

The company intends to use the funds to expand its manufacturing capacity to produce 50 Green Li-ion modular units annually. Green Li-ion also noted that it would reportedly be the first in the US to use lithium-ion battery waste to produce battery-grade precursor cathode active material (pCAM), graphite, as well as lithium carbonate. 

Founded in 2020, Green Li-ion is a Singapore-based company that offers battery recycling technologies across the US, Europe, Australia, and Singapore. Its proprietary GLMC technology, developed and prototyped in Singapore, is claimed to recycle 100% of used lithium batteries, allowing for the direct re-manufacturing of battery-grade cathode material suitable for new batteries. The commercial operation is expected to start in 1H 2023 in Oklahoma.