Battery Resourcers raises $20 million to build plant

Battery Resourcers, a battery recycling spin-off from the lab of Yan Wang, an engineering professor at Worcester Polytechnic Institute, has raised $20 million in a second round of funding. Backers include the venture arms of Orbia, TDK, Doral Group, and Jaguar Land Rover. The funds will support a plant that can take in 20,000 electric vehicle batteries per year. Battery Resources turns end-of-life batteries into purified nickel-manganese-cobalt cathode materials. The recycled cathodes, the firm claims, are cheaper and cause fewer emissions than virgin metals.