Caterpillar invests in tech startup Nth Cycle to boost recycling

FILE PHOTO: A Caterpillar (Cat) Excavator is seen working at a construction site near the New York Harbor in Brooklyn, New York, U.S., March 4, 2021. REUTERS/Brendan McDermid/File Photo

(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 privately-held Nth Cycle, which is among a crop of firms racing to commercialize recycling methods for the green energy transition.