{
  "id": 14168394,
  "title": "Lithium battery recycling startup Neu Battery Materials raises US$7.6 million in latest funding round",
  "url": "https://urgent.news/2026/10/13/lithium-battery-recycling-startup-neu-battery-materials-raises-us-7-6",
  "topic": "tech",
  "section": "Tech",
  "published": "2026-10-13T09:48:30.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/esg/lithium-battery-recycling-startup-neu-battery-materials-raises-us7-6-million-latest-funding-round"
  },
  "original_language": "en",
  "account": "Neu Battery Materials, a lithium-ion battery recycling startup based in Singapore, has recently secured US$7.6 million in its latest funding round. This capital influx was led by Shift4Good, a venture capital platform dedicated to decarbonizing the transport sector, and SGInnovate, a deep-tech investor supported by the Singapore government. The completion of this funding round aligns with the launch of the company's recently operational recycling facility, which can process up to 1,300 tonnes of scrap materials annually from lithium-ion battery manufacturing.\n\nBryan Oh, the co-founder and CEO of Neu Battery Materials, expressed his vision of creating cleaner and more resilient lithium supply chains as part of the global energy transition. He further highlighted that the newly commissioned Singapore plant represents a significant milestone towards achieving this goal. The funding will serve to scale up and deploy Neu Battery Materials' modular LFP (lithium iron phosphate) recycling technology, allowing the company to produce vital battery-grade lithium at lower costs for its customers.\n\nThe recent funding round attracted participation from new investors such as family offices Lotus Singapore Group and M7 Holdings. SGInnovate, Shift4Good, and venture capital fund Paragon Ventures I were also among the investors who supported the company in its previous round of funding. With the additional funds and the successful commissioning of the recycling facility, Neu Battery Materials will focus on scaling up production, reducing production costs, and expanding its network of partners, according to the company's latest announcement. The startup's research and development roadmap has already delivered key technical milestones ahead of schedule, providing a solid foundation for international deployment and continued commercial growth.",
  "summary": "Close of this fundraising round coincides with the launch of its newly commissioned recycling facility",
  "key_points": [
    "Neu Battery Materials raises US$7.6 million in latest funding round",
    "Singapore-based startup secures capital from Shift4Good and SGInnovate",
    "Funding supports modular LFP recycling technology and facility launch"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}