NEU raises $7.6M to advance LFP recycling, boost supply chain

What happened

Singapore-based LFP battery recycling company NEU Battery Materials announced the oversubscribed close of its USD 7.6 million funding round, co-led by Shift4Good and SGInnovate, with participation from new investors including Lotus Singapore Group and M7 Holdings, as well as existing backers such as Paragon Ventures I. The funding comes off the back of NEU's newly commissioned 1,300-ton-per-year Singapore factory. The capital will support the planned ramp-up of producing battery-grade lithium from LFP feedstock such as cathode production scraps and end-of-life black mass, and the company's international expansion; CEO Bryan Oh said the funding will catalyse the scale-up and deployment of its modular LFP recycling technology.

Impact and signal

Affected components and suppliers

Source and time

Source: Evertiq · 10/25/2026 · View original source