# Global battery recycling industry development > Live situation record from CLSTR: https://clstr.news/situations/global-battery-recycling-industry-development > Updated: 2026-10-13T09:48:30.000Z. Sources: 8. Developments: 2. The global battery recycling industry is increasingly viewed as a vital “second mine” for critical minerals such as lithium, nickel, cobalt, and copper. As electric vehicle and energy storage systems scale, the International Energy Agency (IEA) projects that secondary supply could double its contribution by 2040. Current challenges include the high concentration of capacity in China, which holds over 75% of global pre-treatment capacity and approximately 90% of material-recovery capacity. In response to these trends, companies are developing specialized technologies and expanding infrastructure. Neu Battery Materials, a startup in Singapore, recently raised US$7.6 million to scale its modular lithium iron phosphate (LFP) recycling technology. The company’s new facility is capable of processing 1,300 tonnes of scrap materials annually and utilizes a patented electrochemical redox targeting technology designed to reduce emissions by up to 83% compared to conventional methods. ## Timeline ### 2026-10-13: Neu Battery Materials raises $7.6 million for lithium recycling Singapore-based Neu Battery Materials has raised $7.6 million to scale its LFP battery recycling technology and expand its newly commissioned 1,300-tonne capacity facility. 6 sources. https://clstr.news/cluster/neu-battery-materials-raises-76-million-for-lithium-recycling ### 2026-10-13: Battery recycling emerges as a critical secondary mineral source The battery recycling industry is becoming a critical source of minerals like lithium and nickel, though global capacity remains heavily concentrated in China. 2 sources. https://clstr.news/cluster/battery-recycling-emerges-as-a-critical-secondary-mineral-source --- Cite as: Global battery recycling industry development. CLSTR, https://clstr.news/situations/global-battery-recycling-industry-development