Key Takeaways
- • Vynn Capital led an extension round for Malaysian lithium-ion battery recycler Econili Battery New Energy, bringing the company's total funding to RM8 million ($1.96 million), according to a company statement.
- • The size of the latest extension investment was not disclosed, and the round follows an earlier round led by Kumpulan Modal Perdana.
- • Econili will use the proceeds as working capital to secure more battery feedstock and raise throughput at its Ipoh, Perak plants.
- • Econili claims 24,000 metric tonnes of battery treatment capacity and 12,000 metric tonnes of critical mineral recovery capacity, and describes itself as Malaysia's largest lithium-ion battery recycler.
Summary
Malaysian lithium-ion battery recycler Econili Battery New Energy has raised an extension round led by venture capital firm Vynn Capital, bringing its total funding to RM8 million ($1.96 million), according to a company statement. The size of the latest investment was not disclosed. The extension follows an earlier funding round led by Kumpulan Modal Perdana.
The company, led by founder and CEO Jayden Goh, recovers lithium, nickel and cobalt from end-of-life batteries and battery production scrap. The recovered minerals are used to produce cathode active material, a component of batteries for electric vehicles and energy-storage systems. Its process combines mechanical shredding to produce black mass, a mixture containing valuable battery minerals, with hydrometallurgical refining that recovers materials including lithium carbonate and mixed hydroxide precipitate.
Econili said its plants have processing capacities of 24,000 metric tonnes for battery treatment and 12,000 metric tonnes for critical mineral recovery. The company describes itself as Malaysia's largest lithium-ion battery recycler and as one of five licensed battery-recycling operators compliant with the Department of Environment's SW103 requirements. It plans to use the new capital as working capital to secure more battery feedstock and increase throughput at its existing processing plants in Ipoh, Perak.
The company aims to establish Malaysia as a black-mass processing hub, supplying recovered minerals to Asia's battery industry as manufacturers seek to diversify their sources of critical materials. Goh said Econili is "currently looking for strategic opportunities and expanding its capital footprint, actively bringing external investment into Malaysia to position the nation as a premier hub for sustainable battery recycling innovation."
Separately, DealStreetAsia reported in October that Vynn Capital reached the final close of its second fund, the ASEAN-focused Mobility and Supply Chain Fund, which had reportedly targeted $30 million; its final size was not disclosed. The fund plans to deploy capital through 2027 across 13-14 portfolio companies, and its backers include KWAP, Jelawang Capital, MAVCAP, Sime Darby and AEI Capital.
The company, led by founder and CEO Jayden Goh, recovers lithium, nickel and cobalt from end-of-life batteries and battery production scrap. The recovered minerals are used to produce cathode active material, a component of batteries for electric vehicles and energy-storage systems. Its process combines mechanical shredding to produce black mass, a mixture containing valuable battery minerals, with hydrometallurgical refining that recovers materials including lithium carbonate and mixed hydroxide precipitate.
Econili said its plants have processing capacities of 24,000 metric tonnes for battery treatment and 12,000 metric tonnes for critical mineral recovery. The company describes itself as Malaysia's largest lithium-ion battery recycler and as one of five licensed battery-recycling operators compliant with the Department of Environment's SW103 requirements. It plans to use the new capital as working capital to secure more battery feedstock and increase throughput at its existing processing plants in Ipoh, Perak.
The company aims to establish Malaysia as a black-mass processing hub, supplying recovered minerals to Asia's battery industry as manufacturers seek to diversify their sources of critical materials. Goh said Econili is "currently looking for strategic opportunities and expanding its capital footprint, actively bringing external investment into Malaysia to position the nation as a premier hub for sustainable battery recycling innovation."
Separately, DealStreetAsia reported in October that Vynn Capital reached the final close of its second fund, the ASEAN-focused Mobility and Supply Chain Fund, which had reportedly targeted $30 million; its final size was not disclosed. The fund plans to deploy capital through 2027 across 13-14 portfolio companies, and its backers include KWAP, Jelawang Capital, MAVCAP, Sime Darby and AEI Capital.
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