🔋Recycling Batteries is Hard But This Singaporean Found A Way

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Here’s what we got for you:

• 🌊 The SEA - Green Li-ion - The Battery Recycling Startup

• ⛵ SEAppets - ASML are looking to build plants in Southeast Asia instead of China

• 💰 SEA Deals

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Markets 📈

The SEA 🌊

Ever wonder what happens to your lithium-ion batteries once you’re done with them?

They end up in landfills because they are so difficult and expensive to recycle.

Well this startup says “Challenge accepted”

Introducing Green Li-ion.

🤷‍♂️ Who is Green Li-ion?

• Co-founded in 2020 by Leon Farrant and Reza Katal, Green Li-ion is a lithium-ion battery recycling technology company based in Singapore

• The startup has introduced an innovative technology that handles all recycled lithium batteries completely

• It recycles and reuses all metals to instantly produce cathode material ready to be reused in new batteries

🔋How it works?

• The company’s GLMC tech was developed and prototyped in Singapore while the Green Li-ion units are manufactured in Houston, Texas

• The processors are the size of a small house but are modular enough to be shipped on flatbed trucks. Once installed, these machines can process four to six metric tons of end-of-life batteries per day

• Their GLMC-1 machine can handle the equivalent of 56,000 iPhone batteries per day

• The end results are battery-grade cathode material ready for re-use

• They are also able to deliver commodity materials like Cobalt, Nikel and Manganese for other uses

💰 Funding

• The company has just raised USD $20.5 million in pre-series B funding led by Singapore-based decarbonization venture capital firm TRIREC

• The new funding will help the company scale its manufacturing to produce 50 modular units a year

• Thai smart energy solutions provider Banpu Next and Equinor Ventures, the VC arm of Norwegian energy company Equinor, also participated which brought total funding to USD $36 million

SEAppets ⛵

1. Suppliers of Dutch chip-making company ASML are looking to build plants in Southeast Asia instead of China due to political tensions between Beijing and the West. A dozen tech companies are visiting Vietnam, Malaysia and Singapore to explore potential investments and Singapore is being considered as a potential location for regional headquarters. Two companies are already in advanced talks to build factories in Vietnam and Malaysia is also a likely choice for new investments.

C’mon Singapore, leave some for the rest of us

2. KPMG in Malaysia has partnered with the Malaysia Digital Economy Corporation (MDEC) to help 20 high-potential Malaysian technology companies become national unicorns by 2025. KPMG will provide custom consulting and advisory support, while MDEC will focus on capability building and customized support for the companies. The initiative is part of Malaysia Digital, a national strategic initiative to boost the nation's digital economy.

That’s right because we need consultants to build startups 🙄

3. Visa and GHL Systems Berhad have teamed up to introduce a buy-now-pay-later payment solution called Visa Instalments, allowing Visa cardholders to pay for purchases in equal monthly payments at over 3,000 participating merchants. The service is gaining popularity in Malaysia due to its ease of use, no need for physical credit cards and no processing fees. GHL is a Bursa Malaysia-listed company and the largest payment acquirer in ASEAN, processing over USD $330 million in payments per month.

4. ADDX and Yangzijiang Financial have signed an MOU in which ADDX will provide a digital securities exchange to distribute the group's capital markets products, including a maritime fund and cash management fund. Both firms are optimistic that this will broaden the group's investor reach and boost their AUM.

SEA Deals 💰

1. Medigo, a Ho Chi Minh City-based healthcare platform has raised USD $2 million in new funding to expand its telehealth services and on-demand prescription delivery. The funding will help Medigo expand to Tier 2 cities in Vietnam and add more services, such as remote doctor consultations, home testing and 24/7 medicine delivery. The platform's CEO started Medigo after struggling to find medicine for his daughter in the middle of the night. East Ventures, Pavilion Capital, and Touchstone Partners have invested in the startup to support its mission to revolutionize healthcare in Vietnam.

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The invasion of Manhattan, 1976.

Tweet of The Day 🐣

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That’s a wrap for today. See you all tomorrow! 👋

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