Renewable Metals has secured $12 million in an oversubscribed Series A funding round to advance its next-generation lithium-ion battery recycling technology. The round, led by the Clean Energy Finance Corporation (CEFC) and managed by Virescent Ventures, also attracted participation from Neglected Climate Opportunities, Climate Tech Partners, European Metal Recycling (EMR) and existing investor Investible. With this raise, the company’s total funding exceeds $38 million, including prior backing from Australian and UK government programs.
The financing will underpin three key objectives. First, it will support continuous, 24/7 operation of the firm’s commercial prototype recycling plant in Kewdale, Western Australia. The facility is designed to run at 960 tonnes per annum (tpa) initially and ramp to 2,000 tpa by early 2028, generating near-commercial performance data. Second, the funding will accelerate the front-end engineering and design (FEED) study for Renewable Metals’ first full-scale plant in the Hunter region of New South Wales, demonstrating a low-capital, modular approach that can be replicated in global markets. Third, the company will expand its research, engineering and commercial teams to enhance feedstock flexibility, refine product quality and execute on international growth strategies.
Renewable Metals’ proprietary alkali-based hydrometallurgical process is designed as a single-line solution capable of processing all lithium-ion battery chemistries — including nickel-manganese-cobalt (NMC) and lithium iron phosphate (LFP) — without pre-sorting or dismantling. The method recovers more than 95% of critical metals, including up to 30% more lithium than conventional acid-based techniques. Its modular design and elimination of sodium sulfate waste make it well suited to distributed, right-sized plants that can scale as end-of-life battery volumes grow.
Renewable Metals leaders say the technology addresses a gap in Western recycling capacity by reducing reliance on export and offshore refining, while supporting resilient domestic supply chains for critical minerals. The funding milestone positions the company to move from pilot-scale operations to commercial deployment in high-cost environments, offering a competitive, environmentally sustainable alternative to traditional recycling facilities.
Source: Renewable Metals press release
