Orbia Ventures Invests in Battery Resourcers to Advance Battery Circularity.
MANews-(C)2009-2021
Israel-based speciality products and methodologies provider Orbia has led a USD 20m investor syndicate venture capital investment to back Massachusetts-based lithium-ion recycling and manufacturing provider Battery Resourcers (BR) through Orbia Ventures, the company said.
The investment, obtained through a Series B financing round, will support Battery Resourcers to develop a commercial processing facility with the annual capacity to process 10,000 tons of used batteries, or the batteries from approximately 20,000 electric vehicles per year, as well as next-generation energy storage technologies.
Orbia's fluorinated solutions group, Koura, is working on several joint initiatives with the Battery Resourcers team that are focussed on refining lithium-ion battery chemistries for sustainability and scalability.
Orbia established its corporate venture capital fund in 2020 to invest in and collaborate with start-ups on the front edge...
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