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lithium battery recyclingTechCrunch
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76% Informative
Tozero , a Munich -based startup that recovers valuable raw materials from recycled lithium-ion batteries, is gearing up to scale.
The startup just closed an oversubscribed 11 million seed round ( around $11.7M ) to step up production by building its first industrial deployment ( A.K.A first-of-a-kind or FOAK ) plant.
Tozero 's pilot plant processes nine tonnes of battery waste per day, but the startup is shooting for unlimited capacity in what it hopes will be just another couple of years .
Tozero was only founded in 2022 and has raised $17 million in funding.
The startup says it's based on a “process innovation” that’s protected as a trade secret.
Tozero believes it can expand its approach to reclaim other raw materials that could be used as “energy sources”.
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