Mecaware, a battery recycling company, secured €40 million (~$42 million) in funding for the recycling of battery production scrap (Gigafactories Scrap – ScrapCO2MET project). The project is expected to be operational in 2025. The project is expected to produce 50 tons of recycled metal annually, including lithium, nickel, cobalt, and manganese. The funding was raised from a pool of investors organized by Crédit Mutuel Innovation and the SPI2 fund managed on behalf of the State of France by Bpifrance as part of the France 2030 initiative.