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As demand for lithium explodes, battery recycling startup Tozero sprints to scale with $11.7M seed
Tozero, a Munich-based startup that recovers valuable raw materials from recycled lithium-ion batteries, is gearing up to scale. The startup just closed
Currently, Tozero’s pilot plant processes nine tonnes of lithium-ion battery waste per day, but the startup is shooting for unlimited capacity in what it hopes will be just another couple of years of scaling its business. The startup pointed to projections that global demand for lithium is expected to quadruple to 3.1 million metric tons by 2030, driven by rapid uptake of electric vehicles and growing need for large-scale renewable energy batteries. “Tozero’s innovative approach to battery recycling is exactly what Europe needs to secure key supplies in the global electrification race and Japan would love to collaborate,” said Shin Nikkuni, co-founder and managing partner at NordicNinja, in a statement.
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