Singapore-based NEU Battery Materials has secured US$7.6 million in funding to expand its low-emission lithium iron phosphate (LFP) battery recycling capabilities. The investment will be used to scale up the company’s technology and broaden its operations beyond Singapore. NEU’s process focuses on recycling LFP batteries, a type increasingly used in electric vehicles and energy storage systems. This funding round aims to address the growing need for sustainable battery material management as demand for these batteries rises. The company’s technology offers a more environmentally friendly alternative to traditional recycling methods. This expansion will allow NEU Battery Materials to play a greater role in the circular economy for battery materials and support the growth of the electric vehicle industry. Ultimately, NEU intends to establish a strong international presence within the battery recycling sector.