NEU Battery Materials Closes US$7.6M Round to Scale LFP Recycling
Singapore – October 12, 2026 -- NEU Battery Materials has closed an oversubscribed US$7.6 million funding round to scale the recovery of battery-grade lithium from lithium iron phosphate (LFP) batteries, following the commissioning of its 1,300-ton-per-year Singapore factory.
Shift4Good and SGInnovate co-lead the round with new and existing backers
Shift4Good, a venture capital platform investing in the decarbonisation and resilience of transport and energy, and SGInnovate, a Singapore government-backed Deep Tech investor, co-led the financing. New investors Lotus Singapore Group and M7 Holdings joined, as did existing backer Paragon Ventures I.
The capital will fund the ramp-up of battery-grade lithium production from LFP feedstock, including cathode production scraps and end-of-life black mass. It will also fund international expansion.