Launch NY Invests in Battery Startup Bridge Green Upcycle

Launch NY invests in Binghamton alum’s battery startup Bridge Green Upcycle

Bridge Green Upcycle is the 105th portfolio company to join Launch NY, marking 17th investment from Launch NY’s LP Fund II

Buffalo, NY – March 13, 2025 – Binghamton-based clean energy startup Bridge Green Upcycle has been identified as a high-promise and high-impact company by Launch NY, which has invested from its Nonprofit Seed Fund and for profit LP Fund II. This includes participation of Empire State Development’s NY Ventures Community and Regional Partner Fund, supported by $52 million in State Small Business Credit Initiative (SSBCI) funding, which was recently announced as awarding $5 million to Launch NY to advance high-growth entrepreneurship in Upstate New York.

“We’re thrilled that Launch NY, including our Emerging Cleantech Opportunity (ECO) Incubator, is a partner in the Upstate New York Energy Storage Engine that is making our region a hub of battery technology innovation, said Marnie LaVigne, Ph.D., President and CEO of Launch NY. “This investment is a reminder of how powerful seed stage capital is in establishing startups right here in our own backyard to build our new economy, while addressing technology needs, global competitiveness, national security on a much broader scale.”

Bridge Green Upcycle aims to “clean up clean energy,” by extracting critical minerals from end-of-life and manufacturing scrap batteries to reuse in various other industries, ranging from battery manufacturing to pharmaceuticals to even paints. In doing so, it maintains a circular economy where materials can gain new leases on life, without needlessly adding to landfills or requiring new manufacturing.

This is a low-carbon, mining-free and cost-effective process, one that Bridge Green Upcycle’s Founder and Chairman, Binghamton alumnus Balki Iyer, MS ‘00, emphasizes is key to revolutionizing and completing the clean energy transition.

“The demand for critical minerals that goes into a battery is experiencing an exponential growth driven by major industries like transportation, stationary energy storage and consumer electronics. Bridge Green’s mission to ensure batteries don’t get consumed like oil but upcycled and reused over and over so we can support domestic supply chain and energy dominance for United States,” said Balki Iyer, Bridge Green Upcycle Founder and Chairman. “None of this is possible without the amazing support of a lot of people out here, especially in the NY ecosystem. It was critical for us to receive investment in our current fundraising round from a local funder, and Launch NY stepped in at exactly the right time. I really, truly believe that battery upcycling is a once-in-a-lifetime opportunity to make a big change that can help not only this region, but also the country and the planet. Bridge Green Upcycle is proud to have Launch NY join our list of reputed global investors in an oversubscribed round, positioning us well to scale.”

Launch NY is the only nonprofit venture development organization and U.S. Treasury-designated Community Development Financial Institution (CDFI) that serves and directly funds startups in Upstate New York. The core mission of Launch NY is to identify, support and invest in high‐growth, high‐impact companies and to catalyze the entrepreneurial culture of Upstate New York on behalf of job and wealth creation. Launch NY is a core partner of the NSF Engines: Upstate New York Energy Storage Engine — designated last year as one of 10 inaugural U.S. National Science Foundation Regional Innovation Engines around the country. The Engine is a multi-coalition, cross-sector effort that bridges the work of industries, academic institutions, small businesses and government entities to bolster Upstate New York’s economy and strengthen its battery ecosystem.

The Engine is one of the latest cornerstones of Binghamton University’s battery initiatives, aiming to transform New York into the nation’s leader in energy storage research and development. It works closely to complement the existing efforts of New Energy New York (NENY), a double-awardee of the Build Back Better Regional Challenge and Regional Tech Hub designation.

As a member of the Koffman Southern Tier Incubator and Launch NY’s Emerging Cleantech Opportunity (ECO) Incubator, Bridge Green Upcycle plays an active role in NENY’s ecosystem. It has received Technical Assistance from NENY as well as support to hire paid student interns each semester since 2023, as part of NENY’s Student Startup Experience.

Where it’s embedded in the community, Bridge Green Upcycle continues to recruit local talent and ambitiously expand its operations.

“Bridge Green Upcycle is at the forefront of building a sustainable and secure battery supply chain right here in New York.” said Bandhana Katoch, co-PI of NENY and executive director of the Koffman Incubator. “Their innovative approach to lithium-ion battery recycling and upcycling is not just solving an environmental challenge—it’s creating jobs, driving economic growth, and strengthening our domestic energy future. New Energy New York and Koffman Incubator are proud to support their mission in accelerating this critical clean energy transition.”

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About Launch NY:
Launch NY is the only nonprofit venture development organization and U.S. Treasury-designated Community Development Financial Institution (CDFI) that serves and directly funds startups in Upstate New York. The core mission of Launch NY is to identify, support and invest in high‐growth, high‐impact companies and to catalyze the entrepreneurial culture of Upstate New York on behalf of job and wealth creation.

Since 2012 Launch NY has served over 1,750 companies which have gone on to raise more than $1.5 billion, generate more than $265 million in annual revenue and support more than 5,500 jobs. Aligned with Launch NY’s CDFI designation, more than 70% of its portfolio companies are located in low income neighborhoods. Launch NY delivers its mission via mentorship and capital access programs, starting with pro bono mentoring through its Entrepreneur-in-Residence program, Founders Go Big program for underrepresented and underserved founders, and Emerging Cleantech Opportunity (ECO) Incubator. These programs prepare entrepreneurs for investment capital from multiple sources, including Launch NY’s InvestLocal Financing Programs comprised of nonprofit and for-profit investment funds, and the Investor Network deals marketplace that features hundreds of accredited investors. Through these vehicles, Launch NY is the most active seed investor funding New York State companies and has been ranked among the top 5 nonprofit seed funds in the country.

About Bridge Green Upcycle:
Headquartered in New York, Bridge Green Upcycle is revolutionizing clean energy by pioneering the upcycling of lithium-ion batteries. Our advanced digital and material technologies are redefining battery end-of-life management and promoting a circular economy by ensuring that sustainable processes propel the clean energy transition. From battery health monitoring and second-life innovation to the extraction of high-grade black mass and high-quality critical minerals, our proprietary processes reflect our commitment to responsible resource management and environmental stewardship. For investor-related queries, contact ir@bridgegreenupcycle.com. For communications-related queries, email marcomm@bridgegreenupcycle.com.

Media Contact:
Taylor Griffith
Marketing & Events Manager
Launch NY
tgriffith@launchny.org