Lithium Loop Raises $62M Series B to Scale EV Battery Recycling
Reno-based Lithium Loop closed a $62M Series B for its hydrometallurgical EV battery recycling process, recovering 95%+ of critical minerals at 40% less energy than competitors.
Reno, NV — March 18, 2026 — Lithium Loop, the EV battery recycling company, announced today that it has closed a $62 million Series B round led by The Engine, with significant participation from WasteVC and Prelude Ventures.
Deal Details
| Detail | Value |
|---|---|
| Round Size | $62M |
| Stage | Series B |
| Lead Investor | The Engine (MIT) |
| Key Co-Investors | WasteVC, Prelude Ventures |
| Use of Funds | Second commercial facility, R&D expansion |
| Target Capacity | 25,000 MT/year by 2028 |
The Technology
Lithium Loop's proprietary hydrometallurgical process recovers:
- 95%+ of lithium (vs. ~50% for pyrometallurgical)
- 98% of cobalt and nickel
- 97% of manganese
- Graphite and copper from anode and current collectors
The process uses 40% less energy than smelting-based alternatives and produces battery-grade materials that can go directly back into new cell manufacturing—true "closed-loop" recycling.
Why Now
The timing is critical. The first generation of mass-market EVs is reaching end-of-life, and the wave is about to become a tsunami:
- 2025: ~200,000 tons of EV batteries reaching end-of-life globally
- 2030: ~1.2 million tons
- 2035: ~4.7 million tons
Simultaneously, regulations are mandating recycled content. The EU Battery Regulation requires minimum recycled content of 16% cobalt, 6% lithium, and 6% nickel in new batteries starting 2031.
Market Context
Battery recycling VC funding hit $1.4 billion in Q1 2026 alone—more than the entire sector raised in 2023. The investment thesis is compelling: guaranteed feedstock (batteries degrade on a predictable schedule), guaranteed demand (regulatory recycled content mandates), and attractive unit economics (recovered minerals are worth $8,000-15,000 per ton of batteries processed).
"Every EV on the road today is a future feedstock source," said Dr. Kenji Nakamura, Lithium Loop co-founder and CEO. "Our technology ensures that the critical minerals in those batteries keep cycling through the economy instead of ending up in landfills."