NEU Battery Materials Secures $7.6 Million to Scale LFP Battery Recycling

Singapore-based startup NEU Battery Materials has closed a $7.6-million financing round to accelerate the commercialization of its electrochemical recycling process for lithium iron phosphate (LFP) batteries. Backed by SGInnovate and Shift4Good, the investment will support expanding operations to recover battery-grade lithium with minimal environmental impact. The development comes as global automakers increasingly embrace LFP chemistry, driving urgency for cost-effective recycling methods tailored to lower-value cathode materials.