Battery recycling company Green Li-ion picks up $20.5m pre-Series B

• Other investors include Banpu NEXT and Equinor Ventures, the corporate venture capital arm of the Norwegian energy company Equinor
• The new funding will help the company scale its manufacturing to deliver 50 Green Li-ion modular units per year
• The company has raised a total of approximately $36 million to date

Green Li-ion, a lithium-ion battery recycling technology company based in Texas, Europe, Australia, and Singapore, has raised $20.5 million in pre-Series B funding.

TRIREC led the round with participation from other investors that include Banpu NEXT and Equinor Ventures, the corporate venture capital arm of the Norwegian energy company Equinor.

The new funding will help the company scale its manufacturing to deliver 50 Green Li-ion modular units per year. The company has raised a total of approximately $36 million to date.

On the funding, Lars Klevjer, head of Equinor Ventures, said in a statement, “Equinor Ventures invests in and supports innovative companies in the energy transition. Green Li-ion is tackling an integral part of the battery value chain, and we are looking forward to collaborating with Green Li-ion and to be part of their exciting journey ahead”.

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.
Green Li-ion developed and prototyped its GLMC technology in Singapore. The first working, commercial operation is slated to start production in H1 2023 at a plant operated by Aleon in Oklahoma.