FOR IMMEDIATE RELEASE
DATE: May 18, 2022
CONTACT: David Di Martino, david@sevenletter.com, 202-247-7271
Blue Whale Materials Announces Investment of up to $80 Million by Ara Partners to Build Leading
Lithium-Ion Battery Recycling Network and Facilities
New partnership between internationally experienced US recycling leaders and top
decarbonization-focused investor
Washington, DC – Blue Whale Materials (BWM) and Ara Partners, a private equity firm that specializes in industrial decarbonization investments, today announced a partnership to build a network of advanced lithium-ion battery (LIB) recycling facilities in the US and Europe, offering a sustainable solution to meeting the growing demand for critical battery materials. Ara Partners has made an $80 million equity commitment to support the buildout of BWM’s recycling facilities.
As electric vehicles, smart devices, and electric storage technologies continue becoming a larger part of modern life, manufacturers will require an increasing supply of materials like cobalt, nickel, and lithium to make the batteries needed to keep up with demand. BWM’s proprietary, leading-edge technology – validated at a commercial scale plant in Asia – recycles spent lithium-ion batteries and produces high value recycled product used in manufacturing new battery components. This helps create a sustainable, secure domestic supply of these critical materials, reducing reliance on mining operations abroad that come with geopolitical and environmental challenges.
“There is an urgent need for an ethical, circular solution to the growing demand for critical battery materials and the mounting supply of hazardous LIBs,” said Robert Kang, BWM’s CEO. “We are proud to partner with Ara, which shares our passion and has the experience in scaling manufacturing operations and building sustainable businesses.”
Together, BWM and Ara will build 5+ lithium-ion recycling plants in the US and Europe. The BWM team has deep experience in the battery recycling industry, including in Asia where their technology was developed and validated.
“The BWM team has the operational experience, strategic relationships and motivation to build a leading LIB recycling platform domestically,” said Tuan Tran, a Partner at Ara Partners. “The market opportunity is tremendous and we are thrilled to partner with the BWM team.”
To learn more about Blue Whale Materials, please visit their website here.
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About Blue Whale Materials: Blue Whale Materials provides li-ion recycling solutions to safely reclaim and responsibly supply valuable critical materials like cobalt, nickel, and lithium for the growing electrified economy. For more information on BWM, please visit www.bluewhalematerials.com.
About Ara Partners: Ara Partners is a private equity firm specializing in industrial decarbonization investments. Ara Partners invests in the industrial & manufacturing, chemicals & materials, energy efficiency & green fuels and food & agriculture sectors, seeking to build businesses that provide significant decarbonization impact. It operates from offices in Boston, Massachusetts, Houston, Texas and Dublin, Ireland. Ara Partners closed its second fund with approximately $1.1 billion in capital commitments in September 2021. For more information on Ara Partners, please visit www.arapartners.com.