Econili secures funding from Vynn Capital, bringing total raised to US$1.96 million. The Malaysia-based battery recycler will use capital to increase processing throughput at its Perak facilities.
Amount Raised
$1.96 Million
Round Type
Seed
IpohManufacturingEnergyRenewable EnergyInvestors
Description
Econili Battery New Energy, Malaysia's largest lithium-ion battery recycler, has secured new funding from Vynn Capital. The investment brings the company's total capital raised to RM8 million (US$1.96 million). Vynn Capital's investment will fund additional battery feedstock to increase processing throughput at existing recycling facilities in Perak. Econili operates facilities with annual treatment capacity of 24,000 metric tonnes for batteries and 12,000 metric tonnes for critical mineral recovery.
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