The funding arrives as the company transitions from technology development to full-scale operations, supported by its newly commissioned 1,300-ton-per-year facility in Singapore. This factory utilizes patented redox targeting technology to process cathode scraps and end-of-life black mass. By relying on electricity and water rather than traditional, energy-intensive methods like pyrometallurgy, NEU claims its process reduces emissions by up to 83%.

Investors including Lotus Singapore Group, M7 Holdings, and Paragon Ventures I backed the round to bolster supply chain resilience amid rising global demand for battery storage. According to CEO Bryan Oh, the capital will catalyze the deployment of modular recycling units, allowing the firm to produce battery-grade lithium at lower costs. As industrial sovereignty becomes a priority for energy transition, NEU intends to use this momentum to expand its international footprint and further optimize its production roadmap.