BatX Energies is a lithium-ion battery recycling company. Recently, it has secured around $5 million in a pre-series funding round. This funding round was led by Zephyr Peacock and saw participation from Lets Venture, along with JITO Angel Network, the family offices of Mankind Pharma, BluSmart, etc.
The company is planning to use the fund to increase its commercial research and various development efforts. The focus is on taking out lithium ferro-phosphate salts from already-consumed batteries.
Also, BatX Energies is planning to increase its operations when it comes to repair, refurbishment, as well as recycling, as per Utkarsh Singh, the CEO of the company.
Utkarsh Singh emphasized maintaining control over research and development, which is the main differentiator for BatX Energies. It enables the company to have affordable prices.
BatX Energies has strong partnerships with material science research and development at BML Mumjal University. It helps integrate the latest technologies and also offers the company a competitive edge against other companies.
Plans by BatX Energies
According to co-founder and CTO of BatX Energies, Vikrant, ‘We are mainly shifting the resources towards R&D initiatives. It will help in increasing the production of better battery-grade materials. Also, the investment can help the mission of the company increase globally and develop micro facilities across the country. This also helps in creating a future space with clean energy and a better standard.’
Along with making the critical material extraction and working on the capacities while using electro-based processes, BatX Energies has plans for high commercial R&D for pCAM, which is a precursor cathode active material developed from the minerals of recycled batteries.
The company is also working to initiate the production of second-life stationary energy storage apps. pCAM is known to be a powder-like substance that has nickel, cobalt, and many other chemicals. These chemicals are essential components of lithium-ion batteries.
About BatX Energies
Utkarsh Singh and Vikrant Singh started BatX Energies in 2020. This company is completely dedicated to employing environment-friendly, chemical-based, and even reusable extraction technology.
This technology is for lithium-based batteries. It focuses mainly on minimizing operational and capital expenditures. The company does all its operations in the Sikandrabad Industrial Area, which is located in Bulandshahr in Uttar Pradesh.
The funding that BatX Energies has secured is going to help it tremendously and can help strengthen its space.
