Loading organizations...
§ Private Profile · Blacksburg, USA
Li Industries is a company.
Li Industries has raised $55.0M across 3 funding rounds.
Key people at Li Industries.
Li Industries has raised $55.0M in total across 3 funding rounds.
Li Industries develops production technologies for critical battery materials. The company focuses on next-generation lithium-ion battery recycling and advanced material production, emphasizing a closed-loop approach. Their innovative processes are designed to enhance automation, competitiveness, and sustainability throughout the battery supply chain.
The company was co-founded in 2017 by Dr. Zheng Li and Nolan Schmidt. Dr. Li, who serves as CEO, is the primary inventor of the core closed-loop lithium-ion battery materials production technology. His background includes research at institutions like MIT and a professorship at Virginia Tech, informing the insight that a more sustainable and efficient method for battery material lifecycle was essential.
Li Industries' solutions are adopted by entities within the battery manufacturing ecosystem, including producers of electric vehicles and energy storage systems. The company's vision is to establish a secure, sustainable, and circular supply chain for vital lithium-ion battery materials, thereby fostering a more environmentally responsible and efficient energy landscape for the future.
Li Industries has raised $55.0M across 3 funding rounds. Most recently, it raised $6.0M Series B Extension in July 2024.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jul 1, 2024 | $6M Series B Plus | Khosla Ventures, LG Technology Ventures, Robert Bosch Venture Capital | — | Announced |
| May 1, 2024 | $42M Series B | — | Khosla Ventures | Announced |
| Jul 1, 2022 | $7M Series A | — | Khosla Ventures | Announced |
Key people at Li Industries.
Li Industries has raised $55.0M in total across 3 funding rounds.
Li Industries's investors include Khosla Ventures, LG Technology Ventures, Robert Bosch Venture Capital.
Li Industries is a climate tech company developing next-generation lithium-ion battery recycling technologies, including Smart Battery Sorting and Direct Electrode-to-Electrode (Direct E2E™) recycling, to enable automation, cost savings, and sustainability in the battery supply chain.[1][2][3][4] It serves lithium-ion battery manufacturers, cathode producers, recyclers, collectors, and partners like General Motors, solving the problem of inefficient, manual recycling processes by producing low-cost, high-purity battery materials—particularly lithium iron phosphate (LFP) cathode active material (CAM)—to support a circular economy for electric vehicles (EVs) and energy storage.[1][3][4] The company has raised $49M in total funding, including a $36M Series B in May 2024 led by Bosch Ventures, Khosla Ventures, and LG Tech Ventures, and was selected for a $55M U.S. Department of Energy award in September 2024 to build a 10,000 tonne per annum LFP CAM recycling and manufacturing plant, signaling strong growth momentum.[3][4]
Founded in 2017 and headquartered in Pineville, North Carolina, Li Industries emerged to address inefficiencies in lithium-ion battery recycling amid rising demand from EVs and consumer electronics.[3][4] The company's idea stemmed from developing scalable, patented direct recycling processes that recover high-purity materials faster, cheaper, and cleaner than traditional methods, automating manual processes in the supply chain.[2][4] Early traction included patent-protected technologies for battery materials production, leading to pivotal milestones like the Series B funding in 2024 and the DOE award, which supports a facility producing 5 GWh of LFP CAM annually with GM's backing.[3][4]
Li Industries rides the explosive growth of EV adoption and energy storage, where lithium-ion battery demand is projected to surge, but recycling lags—making efficient, circular supply chains essential for resource security and net-zero goals.[1][4] Timing is ideal amid U.S. policy pushes like the Bipartisan Infrastructure Law, which funded their $55M award to bolster domestic competitiveness against China-dominated refining.[4] Market forces favoring them include plummeting battery costs, LFP's rising popularity for its safety and affordability, and automaker commitments to sustainability (e.g., GM partnership).[3][4] By standardizing efficient recycling, Li Industries influences the ecosystem, enabling lower-cost batteries, reduced mining dependency, and scalable closed-loop systems critical for the global energy transition.[1][2]
Li Industries is poised to scale its Pineville facility to 10,000 tonnes/year, potentially capturing a slice of the multibillion-dollar battery recycling market as EV production hits new highs.[4] Trends like LFP dominance in cost-sensitive applications and stricter recycling mandates will accelerate adoption of their tech, with the DOE plant yielding 5 GWh CAM annually to fuel U.S. manufacturing.[4] Influence may evolve through expanded partnerships and tech licensing, solidifying their role in sustainable supply chains—transforming battery waste into a strategic asset, much like they envision: recycling as the industry standard.[1]
