DNX Ventures

Li Industries Closes $42M in Series B Funding, Announces New Investors PINEVILLE, N.C., June 26, 2024 - Li Industries announced the successful closing of its Series B funding round with an additional $6 million commitment from investors. The new investors include General Motors (GM) Ventures, DNX Ventures, and Tech Energy Ventures. This latest investment brings the total size of the Series B round to $42 million and increases Li Industries' total funding to date to over $50 million. "We are excited to welcome GM Ventures, DNX Ventures, and Tech Energy Ventures as key investors in our mission to revolutionize battery recycling," said Zheng Li, CEO of Li Industries. "This additional funding will enable us to further scale our operations and develop synergistic partnerships." “GM is taking a holistic approach to the transition to electric, which includes investing in the reuse and recycling of batteries,” said Anirvan Coomer, Managing Director of GM Ventures. “Li Industries’ mission aligns with our own and their technology shows promise. We look forward to continued progress of their technology and the potential for future collaborations.” GM Ventures' investment underscores the growing importance of sustainable practices in the automotive industry. Li Industries plans to expand its 10,000 tonne recycling facility and further develop its cutting-edge recycling technologies. The company is dedicated to addressing the environmental challenges posed by end-of-life batteries and production waste, transforming them into valuable resources in a cleaner and more cost-effective manner. For more information, please contact info@li-ind.com. About Li Industries Li Industries is an innovative and fast-growing climate tech company developing next-generation lithium-ion battery recycling technologies. Founded in 2017 and headquartered in Pineville, NC, Li Industries has developed scalable direct recycling technologies for lithium-ion batteries from electric vehicles and consumer electronics. Li Industries' unique and patented direct recycling process can recycle all types of lithium-ion batteries and generate high purity commercial-grade battery materials faster, cheaper, and cleaner, enabling effective and sustainable recycling. For more information, please visit: https://www.li-ind.com.

Breaking News: Making Money Moves- Paystand Acquires Teampay We are thrilled to announce that Paystand has acquired Teampay, and our combined network now touches 1,000,000 companies! Learn more about how adding Teampay’s world-class expense management tools to the Paystand Suite will transform the way money moves. Discover more at: https://hubs.la/Q02v2B7F0 ⚡ #Innovation #Fintech

Today CNBC welcomed Zūm CEO and Founder Ritu Narayan to talk about Zum’s historic announcement that Oakland Unified School District will be the first major school district in the country to go 100% electric with revolutionary vehicle-to-grid technology that will send energy back to the grid. “Electric school buses are having a moment right now,” Narayan said on the show. “(In Oakland), when these electric school buses are not used for transportation, we are using our V2G platform to discharge them and give energy back to the grid. It’s such a win-win all across the board.” This week Zum was named to the 2024 CNBC Disruptors 50, an annual list that honors 50 game-changing private companies using breakthrough technology to transform industries. In February, Narayan was named to the 2024 CNBC Changemakers: Women Transforming Business list. Thank you to CNBC for recognizing Zum and this landmark achievement! https://lnkd.in/gkGp_8g