Battery Upcycling Drives Millions in Investments
Circu Li-ion receives millions in seed funding, unlocking a "second life" for electric vehicle batteries.
Big Idea
Millions (or billions) of lithium batteries are going to soon outlive their usefulness. There is a surge of interest in companies who specialize in upcycling—repurposing EV batteries for new applications, rather than traditional recycling. Startups like Circu Li-ion are extending the life of EV batteries and to reduce waste, and kick off a more sustainable and circular battery economy.
Why It Matters
EV batteries have a “second life” that often goes untapped. EV battery analysts adhere to a "10+10" principle, wherein the typical EV battery fulfills a 10-year service life in a vehicle and then continues to serve another 10 years in a different capacity.
Recovering useful materials from used batteries can reduce the demand for mining new raw materials. Other uses include providing backup power during outages, illuminating streets and homes, operating appliances, and facilitating energy storage.
Key Details
- Luxembourg-based startup Circu Li-ion's upcycling platform, known as the Machine-as-a-Service product, uses artificial intelligence (AI) to optimize every step of the battery repurposing process. This includes battery discharging, dismantling, disassembly, and health diagnostics. By relying on AI, Circu Li-ion significantly reduces manual labor and minimizes the environmental impact of the repurposing process.
- Circu Li-ion recently raised €8.5 million, with €4.5 million in equity investment, with the lead investor being BonVenture.
- Bastro (Goodbyecar), is a startup that repurposes EV batteries into portable power units for homes. Rather than breaking down batteries into their constituent parts, this upcycling approach focuses on finding new applications for batteries that still have life left in them.
Xavier Kohll, CTO & Co-Founder of Circu Li-ion, emphasizes the company's commitment to innovation in the battery industry, stating, "We are evolving our products with the agility and adaptability the swift-moving battery market demands. It’s more than creating relevancy — it’s about pioneering flexible solutions that carve out new possibilities for cleaner battery recycling."
What’s Next
Circu Li-ion's approach brings forth a model that tackles potential lithium shortages predicted by the International Energy Agency for 2025. By distinguishing which battery cells can be reused and ensuring materials aren't destroyed but repurposed, the startup establishes a blueprint for future sustainable endeavors.
By the Numbers
- More than 12 million tons of lithium-ion batteries are expected to retire between now and 2030.
Bottom Line
Battery upcycling isn’t a new concept but it's a relatively nascent industry that's poised for considerable growth in the coming years.
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