Jaguar Land Rover’s venture capital and mobility arm, InMotion Ventures based in the UK has invested in Battery Resourcers, a lithium-ion battery recycling and materials company based in Worcester, US.
£14.5M investment
InMotion Ventures an investment partner as part of the $20 million (nearly £14.5 million) Series B investment round in the battery recycling startup. The round was led by Orbia Ventures, the venture capital arm of the multinational Orbia alongside participation from other investors, including At One Ventures, TDK Ventures, TRUMPF Venture, Doral Energy-Tech Ventures.
The investment from InMotion Ventures and other strategic partners will fund Battery Resourcers’ development of a commercial-scale processing facility, with the capability to process 10,000 tonnes of batteries annually. Also, it will help the company in the expansion and enhancement of the production and analysis facilities in Michigan, USA.
Sebastian Peck, Managing Director of InMotion Ventures, said: “I am excited about our investment in Battery Resourcers. The company’s proprietary end-to-end recycling process supports Jaguar Land Rover’s journey to become a net zero carbon business by 2039. Battery Resourcers is part of the plan for the business to meet its obligation for end-of-life batteries, minimising energy use and waste, achieving full circularity for its recycled battery materials, and securing future sustainable supplies of rare materials. We look forward to working with the Battery Resourcers team and supporting the international expansion of the business.”
Mike O’Kronley, Chief Executive of Battery Resourcers, said “Battery Resourcers is on the verge of revolutioniszing the lithium ion battery supply chain. Being able to convert scrap and end-of-life battery materials into new active material that can be directly used in making new batteries drives increased profitability and stability for the lithium ion battery ecosystem. Our investment partners share our vision and passion to scale this revolutionary process to support the battery material supply chain.”
Why Battery Resourcers?
The investment in Battery Resourcers plays part of the plan for Jaguar Land Rover to establish sustainable solutions for end-of-life batteries, minimising waste and creating a circular economy across the battery supply chain.
It comes as Jaguar Land Rover defines its future strategy, which is a sustainability-rich reimagination of modern luxury, unique customer experiences and positive societal impact. It aims to achieve net zero carbon emissions across its supply chain, operations and products by 2039. The investment showcases the company’s vision to establish new benchmark standards in efficient scale and quality by accelerating investments in circular economy supply chains.
Founded by Eric Gratz, Yan Wang, and Diran Apelian, Battery Resourcers’ innovative technology will recycle and produce cathode active materials such as Nickel Manganese Cobalt Oxide (NMC), Nickel Cobalt Aluminum (NCA) and Lithium Iron Phosphate (LFP) batteries. It has also filed intellectual property around graphite recovery and purification that will enable it to return both the cathode and anode active materials back to manufacturers of new batteries.
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