Mainz, Germany – The growing electric vehicle market presents a significant challenge. What happens to millions of EV batteries after their first life? Circunomics GmbH, a Mainz-based startup founded in 2019, is tackling this. They’ve just announced a major milestone: a successful Series A funding round. The company secured over €8 million. This investment will fuel its mission. They aim to create a truly circular economy for lithium-ion batteries.
Sustainable Battery Solutions for a Greener Future
Electric vehicle adoption is increasing. This, consequently, necessitates responsible battery recycling. It also requires repurposing. Circunomics offers a unique solution. It’s a comprehensive Battery Lifecycle Management platform. This platform combines a digital B2B marketplace. It also features AI-powered analytics. The platform considers the entire battery lifecycle. Thus, it contributes to CO2 reduction.
Strategic Investment from Industry Leaders
GET Fund (Munich) and Schaeffler AG (Herzogenaurach) led the Series A funding round. They did so through Schaeffler Invest GmbH. Existing investors, including Orlen and GG Rise, also participated.
Expansion Plans: Internationalization and Enhanced Digital Services
This funding will enable Circunomics’ international expansion. It will also support its growth as a global leader. The company plans to enhance its product offerings. They will develop new digital services. These services will further support the circular economy for batteries.
A Marketplace for Battery Reuse and Recycling
Circunomics operates a digital B2B marketplace. This marketplace is for used battery packs. It also handles modules and cells. The platform facilitates the transition. It moves energy storage systems from first life to second-life applications. AI-powered software analyzes each battery’s state of health (SoH). Digital twin technology simulates optimal second-life applications. It considers each battery’s performance potential. Batteries unsuitable for reuse are sent to qualified recycling companies. Therefore, Circunomics connects industry partners. They connect them across the entire battery supply chain. This maximizes battery reuse and recycling.
Investor Confidence in Circunomics’ Vision
Investors recognize Circunomics’ innovative approach. GET Fund highlighted the company’s contribution. It is valuable to both electromobility and renewable energy. They emphasized its ability to bridge the gap. This gap is between the growing supply of end-of-life batteries. It also addresses the increasing demand for energy storage. Schaeffler AG expressed excitement about the partnership. They emphasized their shared commitment. This commitment is to sustainable battery utilization. They recognized the potential of Circunomics’ platform. This potential is specifically for electromobility. It also applies to other industrial applications.
A Commitment to a Circular Economy
Circunomics is committed to a comprehensive circular economy for batteries. The company’s digital marketplace and advanced analytics play a crucial role. They maximize reuse and recycling. This reduces the environmental impact. It also conserves valuable resources. And, it optimizes cost structures for businesses. Circunomics recognizes the scale of the challenge. Millions of used EV batteries will require sustainable solutions by 2030.
Source: Circunomics
