May 24, 2024: Ecobat, the international battery recycling giant, said on May 21 it had entered into a supply chain finance support partnership with Florida-based working capital finance and payments solutions firm LSQ.

The companies said the arrangement should give a business boost to suppliers while generating vital working capital for the battery recycler.

Ecobat VP and treasurer, Scott Paredes, said providing flexibility to suppliers while generating working capital and providing cost savings are paramount to the success of the supply chain finance program.

“Providing early-payment options for suppliers was first and foremost for us in creating a supply chain finance program. Giving them the option to get paid within one day for their invoices makes us a partner in their growth.”

Paredes said that under the partnership, Ecobat has been able to standardize terms, generate working capital and reduce costs by using LSQ’s payments automation and consolidation.

LSQ chief revenue officer Vikas Shah said: “By expanding access to working capital to their suppliers, we are able to grow Ecobat’s capacity and help them boost their sustainable supply chain initiatives.”