Vynn Capital leads Econili round, lifting Malaysian recycler's total to $2M
What's the deal? Malaysian lithium-ion battery recycler EcoNiLi BatteryDealroom has a profile for this one. Try Dealroom → has raised an extension round led by Vynn CapitalDealroom has a profile for this one. Try Dealroom →, bringing its total funding to US$1.91M. The size of the latest cheque was not disclosed.
What's the endgame? EcoNiLi recovers lithium, nickel, and cobalt from end-of-life batteries and production scrap, feeding the recovered minerals into cathode active material for electric vehicles and energy-storage systems. It aims to turn Malaysia into a black-mass processing hub, supplying Asia's battery industry as manufacturers seek to diversify critical-mineral sources.
What's the money for? The company will use the proceeds as working capital to secure more battery feedstock and raise throughput at its plants in Ipoh, Perak. Those facilities have processing capacities of 24,000 tonnes for battery treatment and 12,000 tonnes for critical mineral recovery.
Why now? The round follows a February strategic investment from government-owned Kumpulan Modal PerdanaDealroom has a profile for this one. Try Dealroom → to support EcoNiLi's hydrometallurgical facility. Founder and chief executive officer Jayden Goh said the company is "actively bringing external investment into Malaysia to position the nation as a premier hub for sustainable battery recycling innovation."
EcoNiLi describes itself as Malaysia's largest lithium-ion battery recycler and one of five operators licensed under the Department of Environment's SW103 requirements. Its process combines mechanical shredding to produce black mass with hydrometallurgical refining to recover lithium carbonate and mixed hydroxide precipitate.
About the backer: Vynn Capital closed its second fund in October and plans to deploy capital through 2027, targeting 13 to 14 portfolio companies. The ASEAN-focused Mobility and Supply Chain Fund had reportedly targeted $30 million; its final size was undisclosed. Backers include KWAP, Jelawang CapitalDealroom has a profile for this one. Try Dealroom →, MAVCAP, Sime Darby, and AEI CapitalDealroom has a profile for this one. Try Dealroom →.
The signal: Regional battery recycling is shifting from technology development toward commercial operations, with Singapore's NEU Battery MaterialsDealroom has a profile for this one. Try Dealroom → raising $7.6 million in October after commissioning a 1,300-tonne-a-year plant. EcoNiLi's undisclosed, operations-focused extension reads less as a major expansion than as follow-on backing for Malaysian recycling capacity.
Read more: dealstreetasia.com
Image credit: Generated with Gemini
