Foley Hoag Represents Nth Cycle in $3.2M Seed Financing
May 19, 2021
Foley Hoag LLP represented Nth Cycle Inc., the maker of a recycling technology that extracts critical metals from batteries, e-waste, low-grade ore, and mine tailings so they can be reused to make new clean energy products, in its $3.2 million seed financing led by climate tech venture capital firm Clean Energy Ventures. The investment will allow Nth Cycle to scale its metal processing technology.
Nth Cycle, based in Massachusetts, is a metal processing technology company that works with battery recyclers and miners to recover production-grade critical minerals from separated e-waste and low-grade mine tailings. Nth Cycle uses an environmentally friendly process called electro-extraction to recover cobalt and other minerals from discarded batteries and mining ores and waste using only electricity and carbon filters. Electro-extraction is a cleaner, lower-cost alternative to the conventional pyrometallurgy and hydrometallurgy processes used by battery recyclers and mining companies to recover cobalt, nickel and manganese for new battery manufacturing. This technology expands the circular supply chain of critical minerals for the clean energy transition.
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