Founded by Utkarsh Singh and Vikrant Singh,
BatX Energies exists to develop Green Tech Solutions which empowers the Global Clean Energy Transition creating a Circular Economy and Sustainability ethos.
BatX Energies claims to have developed a proprietary Zero Waste – Zero Emission technology to extract critical Rare Earth metals, namely Lithium, Cobalt, Nickel and Manganese from scrap Lithium-Ion batteries.
The startup also claims to be on a mission to recycle approx 1B
lithium-ion cells in the next three years.
Recently, the company raised $1.6 million in a seed funding
round led by JITO Angel Network SunilKumar Singhvi.
The round also saw participation from existing investors
Anmol Jaggi from BluSmart, Rohit Chanana from
Sarcha Advisors and new investor MANKIND PHARMA LTD’s KAMALJYOT INVESTMENTS LIMITED.
The company statement also read participation from an associate of Excel Industries, and Haldiram’s family offices in this seed fundraising round.
According to the startup, the investment will increase its presence in both the Indian and international markets. It also stated that a major portion of the money would go toward advanced R&D for producing battery-grade materials, scaling up their capacity, and establishing micro facilities (spokes) across the nation.
BatX will now establish a commercial-scale rare earth battery materials extraction plant integrated with AI in India.
The company will start specific material extraction via their proprietary chemical process in Q3FY23.
Upon raising the funds, Utkarsh said,
“With this investment, we plan to fill the demand and supply gap of Lithium, Cobalt, Nickel and Manganese in the EV industry reducing carbon emissions, for which we are constantly enhancing our technology and processes to treat all kinds of Lithium batteries circulated in the global market.”
We can’t wait to see what more BatX Energies has to offer.
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