Hitachi Ventures joins the list of current investors helping the company develop better battery end-of-life solutions.
Worcester, MA-based lithium-ion battery manufacturing and recycling company Battery Resourcers announced earlier in September that its latest mid-round funding of $70 million will be used to advance and expand closed-loop material production recycling technology. The company will also expand commercial plants for operation in the U.S. and Europe by the end of 2022.
“With the influx of lithium-ion batteries hitting the market and increased demand for recycled content, the need for battery end-of-life solutions is more prevalent than ever,” said Michael O’Kronley, CEO and Director of Battery Resourcers. “This most recent funding round supports Battery Resourcers’ ongoing expansion in the U.S. and extends it to Europe to reinforce our mission of closing the loop on the battery material supply chain.”
Hitachi Ventures, the Munich-based venture capital company of Hitachi Group, joins the list of Battery Resourcers’ investors, including Orbia Ventures, Jaguar Land Rover’s Inmotion Ventures,