Green Li-ion attracts new investor

Singapore-based hydrometallurgical lithium-ion battery recycling technology provider Green Li-ion has attracted an investment from the founder of VGW Holdings Ltd., a global provider of online video games and services.

Green Li-ion says Laurence Escalante, founder of VGW, is “a leading backer of emerging industries” and that he has led a strategic bridge funding round for Green Li-ion.

The funding round will enable Green Li-ion to accelerate the scale-up of its battery recycling technology, with the company saying, “The investment comes at a crucial time.”

Green Li-ion says its patented-in-Australia technology is positioned to help North America reshore refined cathode material production at a time when global trade routes and trading patterns are at risk, and the company says it is on track to become the largest domestic producer of these materials in the United States.

“Our world-first technology redefines how we source critical minerals,” Green Li-ion co-founder and CEO Leon Farrant says. “By recovering valuable materials from battery waste, we’re significantly reducing the environmental cost compared to extracting the same volume of minerals from the earth.”

Green Li-ion says its process delivers up to a 90 percent reduction in carbon emissions compared with the mining of elements such as lithium, nickel and cobalt, positioning the company as a pioneer in the fast-growing urban mining industry.

The company, which holds 87 patents, says its technology initially was developed at its Geelong, Australia, technology center and now has been installed at six facilities around the world.

“The investment from Escalante underscores growing confidence in vital Australian-developed clean tech and demonstrates his support for global decarbonization efforts,” Green Li-ion says.