16/03/2022
EIT InnoEnergy has announced a substantial investment in MECAWARE, a French battery recycling start-up that aims to provide electric vehicles with recycled batteries.
This €2.5 million funding round, which is going towards building MECAWARE’s first pilot site in Lyon, France, comes as one in 12 cars sold across Europe between April and June 2021 ran on batteries alone. With electric vehicle (EV) sales projected to exceed 1.17 million in Europe this year, it is clear that there is a vital need for feasible, sustainable alternatives to meet battery demand through recycling.
Recycled batteries for electric vehicles
MECAWARE is a start-up that focuses on the recycling of technological waste from batteries, with the objective of providing EVs with recycled batteries by 2025. Through a newly established extraction process, it retrieves critical metals and rare minerals such as lithium, cobalt, nickel, manganese, and lanthanides in a sustainable way to enable their industrial reuse. Once complete, the strategic raw materials are returned to the market as “green ingots”, with very high levels of efficacy and purity – from 98% to >99.9% – in line with the industrial needs of the sector.