Dec 4 Reuters Caterpillar is investing in recycling technology developer Nth Cycle as part of a push to boost the reuse of metals used to make batteries and construction equipment.

The investment, announced on Monday, comes as part of a 44 million Series B round of financing in privatelyheld Nth Cycle, which is among a crop of firms racing to commercialize recycling methods for the green energy transition.

Massachusettsbased Nth Cycle39;s technology, designed to be used in a portable system it has branded 39;Oyster,39; utilizes an electrochemical process to selectively extract nickel and cobalt from scrap, batteries or mined rock.

Executives are marketing that versatility to mining companies and the electric vehicle industry.

Each Oyster facility is able to process 3,000 metric tons per year of material and produce 300 to 500 metric tons per year of nickel or cobalt, depending on the source material.

The beauty of our system is that it39;s truly modular, Megan O39;Connor, Nth Cycle39;s cofounder and CEO, said in an interview. We want our customers to have options.

The first Oyster is being built in Ohio and expected to open in 2024. The company says that its process produces a lithium and graphite waste byproduct that it plans to sell, but reuses water and some acids.

The company39;s name is meant to evoke the mathematical term nth and point to the potential for metals to the continuously recycled.

Texasbased Caterpillar, which makes heavy machinery emblazoned…