Tech Company Financing Transactions
NEU Battery Materials Funding Round
NEU Battery Materials, based in Singapore, secured $3.7 million in funding from SGInnovate, ComfortDelGro Capital Partners and Paragon Capital.
Transaction Overview
Company Name
Announced On
7/5/2023
Transaction Type
Venture Equity
Amount
$3,700,000
Round
Seed
Investors
Proceeds Purpose
NEU Battery Materials says the funds raised in the round will accelerate deployment of its automated recycling line, which will lower operational manpower requirements. The company adds it also will focus on the further development of partnerships in key global markets to support their battery requirements and forge new direct partnerships with EV OEMs and battery manufacturers to further the adoption of its technology within the transport and mobility sector.
Company Information
Company Status
Private & Independent
Industry
Energy & Battery
Mailing Address
21 Bukit Batok Crescent WCEGA Tower 10-75
Singapore, 658065
SG
Singapore, 658065
SG
Phone
Undisclosed
Website
Email Address
Overview
We are a Singapore start up, founded in 2021 with the goal of creating a sustainable future for the world. Given the rising demand for Electric Vehicles (EVs) and lithium-ion batteries, we feel that there is a need to address the unsustainable recycling processes of lithium-ion batteries. This led to the start of NEU's journey in the clean energy industry. Our intention is to scale our modular technology, catering to incoming lithium battery demands.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
Bryan Oh
Chief Technical Officer
Kenneth Palmer
Co-Founder
Wang Qing
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