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					</table><p><a href="https://batxenergies.com/" target="_blank" rel="noopener">BatX Energies</a>, an India-based sustainable and circular Lithium-ion (Li-ion) battery recycling company, has raised $5 million in pre-series A Funding. The funds will be utilized for market expansion and scaling of the company’s recycling operations all over India.</p>
<p><a href="https://www.zephyrpeacock.com/" target="_blank" rel="noopener">Zephyr Peacock</a> led the funding along with <a href="https://www.letsventure.com/" target="_blank" rel="noopener">Lets Venture</a> and existing investors <a href="https://jitojiif.com/" target="_blank" rel="noopener">JITO Angel Network</a> and Family offices of <a href="https://www.mankindpharma.com/" target="_blank" rel="noopener">Mankind Pharma</a>, <a href="https://www.excelind.co.in/" target="_blank" rel="noopener">Excel Industries</a>, <a href="https://blu-smart.com/en-IN/" target="_blank" rel="noopener">BluSmart</a>, etc.</p>
<p>The company aims to invest in scaling up hybrid- electro-based critical material extraction and refining capacities, commercial R&amp;D for precursor cathode active material (pCAM) development from recycled battery minerals, and commencing the commercial scale second-life stationary energy storage applications (ESS &amp; BESS) production unit.</p>
<p>The expansion would allow a full-stack recycling and reconditioning solution for original equipment manufacturers and customers.</p>
<p>The funding will also be used for BatX’s market expansion within India on a global scale.</p>
<p>It will also support enterprise micro facilities nationwide, which will help them enhance their operational trace for increased accessibility and efficiency.</p>
<p>“At BatX, we envision a transformative approach to extracting Li-ion battery materials, addressing the environmental complexities it entails. While these batteries are vital for clean and technological advancements, their current extraction methods present daunting environmental challenges—high carbon emissions, land degradation, excessive water usage, and contamination risks. We are very focused on reducing the critical materials imports for India and producing them by recycling, thus making India Atma Nirbhar. With this growth capital, we will showcase tremendous developments in setting up industry standards,” said Utkarsh Singh, Co-founder and CEO of Batx Energies.</p>
<p>India has a collective capacity of lithium-ion batteries across various sectors, which is<a href="https://www.mercomindia.com/india-potential-attract-global-investments-battery-recycling" target="_blank" rel="noopener"> projected</a> to reach 600 GWh by 2030. Around 128 GWh of these batteries will be recycled, with nearly 59 GWh originating from the electric vehicle sector.</p>
<p>The first nine months of 203 saw a 31% year-over-year <a href="https://www.mercomindia.com/venture-capital-funding-for-energy-storage-rises-115-in-9m-of-2023" target="_blank" rel="noopener">decline</a> in global corporate finance for the energy storage sector, with $15.2 billion raised across 94 deals.</p>
<p>To ensure environmentally friendly management of waste batteries, including EV, portable automotive, and industrial batteries, the Ministry of Environment, Forest, and Climate Change has<a href="https://www.mercomindia.com/battery-waste-management-rules-mandates-recycling" target="_blank" rel="noopener"> published</a> the Battery Waste Management Rules, 2022.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/staff/" class="vcard author" rel="author"><span class="fn">Staff</span></a></div><div class="saboxplugin-desc"><div itemprop="description"></div></div><div class="clearfix"></div></div></div>

Battery Recycling Firm BatX Secures $5 Million to Fund Expansion Plans


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					</table><p>India-based lithium-ion battery recycling startup <a href="https://batxenergies.com/" target="_blank" rel="noopener">BatX Energies</a> raised $1.6 million in a seed funding round led by JITO Angel Network.</p>
<p>The round saw participation from existing investors such as Rohit Chanana of Sarcha Advisors and Anmol Jaggi from BluSmart Electric. Mankind Pharma’s Kamaljyot Investments and Haldiram’s Family Offices also participated in the seed funding round.</p>
<p>BatX Energies will utilize the fund to establish a commercial-scale rare earth battery-materials extraction plant integrated with artificial intelligence (AI). BatX will start specific material extraction via their proprietary chemical process at their recycling unit, which is already producing black mass — a mixture of battery anode and cathode materials.</p>
<p>BatX Energies said it has developed a proprietary zero-waste – zero-emission technology to extract critical rare earth metals like lithium, cobalt, nickel, and manganese from scrap lithium-ion batteries. These critical materials are the key drivers of global electric mobility.</p>
<p>“With this investment, we plan to fill the demand and supply gap of lithium, cobalt, nickel, and manganese in the EV industry reducing carbon emissions, for which we are constantly enhancing our technology and processes to treat all kinds of lithium batteries circulated in the global market,” added Vikrant Singh, Co-Founder, and CTO of BatX Energies.</p>
<p>The investment will also help BatX to expand its footprints in the Indian and International markets.</p>
<p>With a focus on investment towards advanced R&amp;D for producing battery-grade materials, scaling up their capacity, and setting up micro facilities across the country, the company aims to source and process locally. It also plans to increase job opportunities and a skilled workforce in the electronic waste management sector.</p>
<p>BatX Energies is in talks with various global agencies to expand their operations and provide end-to-end service for preserving these rare earth materials, which are otherwise mined with exhaustive efforts and stress-generating carbon emissions on the planet.</p>
<p>The company claims it is on a mission to recycle approximately one billion lithium-ion cells in the next three years, significantly cutting carbon footprints and producing sustainable battery materials for fresh batteries.</p>
<p>Lithium rates have <a href="https://mercomindia.com/ev-battery-supply-chains-stressed/" target="_blank" rel="noopener">surged</a> by over seven times since May last year, creating challenges for the global electric vehicle battery supply chain. The International Energy Agency recently said cobalt and nickel prices more than doubled from March 2021 to May 2022, stressing the supply chain as battery demand increased. Russia supplied 20% of high purity nickel to battery manufacturers globally, and its invasion of Ukraine fuelled metal prices. Russia is also the world’s largest battery-grade (Class-1) nickel producer.</p>
<p>With the increase in demand for round-the-clock energy supply and storage, the battery storage sector has seen considerable investments. Battery storage companies <a href="https://mercomindia.com/corporate-funding-battery-storage-q1-2022/">raised</a> $12.9 billion in corporate funding through 26 deals in Q1 2022, a 222% quarter-on-quarter (QoQ) increase compared to $4 billion raised in 27 deals in the last quarter, according to Mercom’s <a href="https://mercomcapital.com/product/q1-2022-funding-and-ma-report-for-storage-grid-efficiency/" target="_blank" rel="noopener">Q1 2022 Funding and M&amp;A Report for Storage, Grid and Efficiency</a>.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/arjun-joshi/" class="vcard author" rel="author"><span class="fn">Arjun Joshi</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Arjun Joshi,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="86" height="102" /><a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener"><strong style="color: #00b451">Arjun Joshi</strong> </a>is a staff reporter at Mercom India. Before joining Mercom, he worked as a technical writer for enterprise resource software companies based in India and abroad. He holds a bachelor’s degree in Journalism, Psychology, and Optional English from Garden City University, Bangalore. <a href="https://mercomindia.com/author/arjun-joshi" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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Battery Recycling Startup BatX Energies Raises $1.6 Million In Seed Funding Round

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