Econili Battery New Energy, a Malaysia-based lithium-ion battery recycler and black mass refiner, raised an extension round led by Vynn Capital, bringing its total funding to 8 million ringgit (US$1.97 million).

The extension follows an earlier round led by Kumpulan Modal Perdana.

Econili operates plants in Ipoh, Perak, with reported processing capacities of 24,000 metric tonnes for battery treatment and 12,000 metric tonnes for critical mineral recovery.

The company recovers lithium, nickel, and cobalt from used batteries and battery production scrap.

Econili said it will use the new funds as working capital to secure more feedstock and increase throughput at its existing facilities.

The deal comes as Malaysia prepares for growth in electric vehicle battery and e-waste recycling, a segment the Malaysian Investment Development Authority said was part of the country’s green and circular economy push.

🔗 Source: Vynn Capital