Driving green mobility and new energy by optimising second life and recycling through data
Circunomics has completed its second round of financing, raising EUR 1.8 million investment. Kalodion, Circularity Boost from Munich and TES, Sustainable Technology Solutions, from Singapore are now investors. The start-up will use the raised capital to strengthen the development team. With TES, Circunomics has also tied one of the world’s leading companies in the circular economy and gained a partner with global market access.
Our approach is a platform economy. We provide analytical and predictive data on the condition of a battery pack and help with marketing via our Circular Marketplace. Our platform offers a secure data environment, which massively reduces the effort involved, among other things, with regard to physical testing and matching in Second Life.
Patrick Peter, founder and CEO of Circunomics
Circunomics envisions a circular li-ion battery economy by 2030 by establishing a second life and recycling network, and by turning batteries into circular assets to create transparency, decrease risk, and optimise value. To enable an efficient and safe second life and recycling, cooperation, trading-network, certification, transparency, data security are key. Circunomics digital twins, analytics, and marketplace can provide this. EIT RawMaterials supported Circunomics with Booster funding in 2020 to support the first open IoT platform for a circular battery.
Battery demand will increase by tenfold until 2030 – driven by e-mobility and energy storages. The energy transition can only be green if being circular. Reusing batteries for lower emissions and lower battery cost is the answer.
Joining forces with sustainability enthusiasts and circularity experts
For Circunomics, this does not only mean another financing round accomplished, but the important gain of partners who share the same values and bring in additional circular expertise. Especially with TES looking forward to a vital strategic cooperation that benefits both sides to ideally complement and improve each other’s business approaches.
TES operates worldwide and has a huge experience in lifecycle management of electronics and IT products. In this respect, the investment in Circunomics is ideal for us – because it is less about recycling and more about the lifecycle management of lithium-ion batteries. However, TES also has two of the most modern facilities for recycling lithium-ion batteries in Grenoble and Singapore, where we recover up to 90% of the material.
Thomas Holberg, Global Vice President of Battery Operations at TES