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Mecaware, a battery recycling company, <a href="https://cms.mercomindia.com/battery-recycling-company-mecaware-raises/" target="_blank" rel="noopener">secured</a> €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.
Amperon Holdings, a provider of energy analytics solutions, <a href="https://cms.mercomindia.com/energy-analytics-platform-amperon-holdings-raises/" target="_blank" rel="noopener">secured</a> $20 Million in a Series B funding round led by Energize Capital. Other participants in this round include the D. E. Shaw group, Veriten, and existing investor HSBC Asset Management. The round helped bring the company’s total funding raised to date to $30 million. The company aims to use the funding to unlock more value from grid data and advance electricity forecasting innovation.
Bolt.Earth, an India-based EV infrastructure and software company, has <a href="https://www.mercomindia.com/bolt-earth-20-million-product-portfolio-expansion" target="_blank" rel="noopener">secured</a> $20 million in a recent funding round led by a consortium of existing and new investors, including Union Square Ventures, Prime Venture Partners, and ITIGO Funds. Bolt.Earth, an India-based electric vehicle infrastructure and software company, has secured $20 million in a recent funding round led by a consortium of existing and new investors, including Union Square Ventures, Prime Venture Partners, and ITIGO Funds.
Peak Energy, a sodium-ion battery manufacturer, <a href="https://cms.mercomindia.com/sodium-ion-battery-manufacturer-peak-energy-secures-10-million/" target="_blank" rel="noopener">secures</a> $10 million in a funding round led by Eclipse, with significant participation from strategic partner TDK Ventures. The financing will help the company develop its sodium-ion battery solutions and lay the groundwork for building out manufacturing in the U.S. Beginning in 2025. Peak Energy will start deploying its sodium-ion systems while simultaneously building a domestic, giga-scale battery factory with plans to open in 2026.
Australian battery recycling startup Renewable Metals <a href="https://cms.mercomindia.com/battery-recycling-startup-renewable-metals-raises/">closed</a> an A$8 million (~$5 million) investment round to scale and commercialize its lithium-ion battery recycling technology. The funding was led by Asia Pacific-based venture capital firm Investible via its early-stage Climate Tech Fund, with additional participation from the U.S.-based venture capital investor, the Grantham Foundation for the Protection of the Environment, and CEFC. The investment round is expected to support Renewable Metals in developing a pilot plant in Perth, Australia.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://cms.mercomindia.com/clean-energy-reports/">here</a>.
Read last week&#8217;s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-group14-secures-funding" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Battery Recycling Company Mecaware Raises $42 Million

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					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-mecaware-raises-42-million/" target="_blank" rel="noopener">Mercom Capital Group</a>
Mecaware, a battery recycling company, <a href="https://mercomcapital.com/battery-recycling-company-mecaware-raises/" target="_blank" rel="noopener">secured</a> €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.
Amperon Holdings, a provider of energy analytics solutions, <a href="https://mercomcapital.com/energy-analytics-platform-amperon-holdings-raises/" target="_blank" rel="noopener">secured</a> $20 Million in a Series B funding round led by Energize Capital. Other participants in this round include the D. E. Shaw group, Veriten, and existing investor HSBC Asset Management. The round helped bring the company’s total funding raised to date to $30 million. The company aims to use the funding to unlock more value from grid data and advance electricity forecasting innovation.
Bolt.Earth, an India-based EV infrastructure and software company, has <a href="https://www.mercomindia.com/bolt-earth-20-million-product-portfolio-expansion" target="_blank" rel="noopener">secured</a> $20 million in a recent funding round led by a consortium of existing and new investors, including Union Square Ventures, Prime Venture Partners, and ITIGO Funds. The company offers an operating system, a connected platform technology that helps manufacturers develop, operate, and monitor their charging networks and vehicles.
Peak Energy, a sodium-ion battery manufacturer, <a href="https://mercomcapital.com/sodium-ion-battery-manufacturer-peak-energy-secures-10-million/" target="_blank" rel="noopener">secures</a> $10 million in a funding round led by Eclipse, with significant participation from strategic partner TDK Ventures. The financing will help the company develop its sodium-ion battery solutions and lay the groundwork for building out manufacturing in the U.S. Beginning in 2025. Peak Energy will start deploying its sodium-ion systems while simultaneously building a domestic, giga-scale battery factory with plans to open in 2026.
Australian battery recycling startup Renewable Metals <a href="https://mercomcapital.com/battery-recycling-startup-renewable-metals-raises/">closed</a> an A$8 million (~$5 million) investment round to scale and commercialize its lithium-ion battery recycling technology. The funding was led by Asia Pacific-based venture capital firm Investible via its early-stage Climate Tech Fund, with additional participation from the U.S.-based venture capital investor, the Grantham Foundation for the Protection of the Environment, and CEFC. The investment round is expected to support Renewable Metals in developing a pilot plant in Perth, Australia.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://mercomcapital.com/clean-energy-reports/">here</a>.
Read last week&#8217;s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-group14-secures-funding" target="_blank" rel="noopener">roundup</a>.

<a href="https://mecaware.com/homepage" target="_blank" rel="noopener">Mecaware</a>, 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 per year, 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.
The funding round also saw the participation of existing investors EIT InnoEnergy, UI Investissement, Kreaxi, BNP Paribas Développement, and Crédit Agricole Création.
Founded in 2020, the company recycles end-of-life batteries and produces scrap from battery-making factories.
The company’s technology is based on dynamic combinatorial chemistry. It uses the synergy caused by the capture of CO2 and the recycling of critical metals. Its application enables the extraction of metals in a closed loop, free from inputs that impact the environment, without producing any effluent, and with no special energy requirements.
The chemical process used by MECAWARE, was created through French public research. It was developed by Professor Julien Leclaire at the Applied Supramolecular Chemistry Laboratory in Lyon.
Magali Joessel, Director of the SPI Fund, comments: “We are convinced that Mecaware’s technology, which seeks to recycle and recover black mass from end-of-life batteries or production scrap, constitutes a valid response to these challenges. The metal extraction process they have created is an innovative solution that fits into the development of the French battery sector. Preparing the industrialization of Mecaware and supporting its shift in scale chime perfectly with the raison d’être of the SPI Fund.”
Recently, Australian battery recycling startup Renewable Metals <a href="https://cms.mercomindia.com/battery-recycling-startup-renewable-metals-raises/" target="_blank" rel="noopener">closed</a> an A$8 million (~$5 million) investment round to scale and commercialize its lithium-ion battery recycling technology.
According to Mercom’s 1H And Q2 2023 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/1h-q2-2023-funding-ma-report-storage-grid/" target="_blank" rel="noopener">Report</a> for Storage &amp; Smart Grid, Venture Capital funding for energy storage companies was up in Q2 2023 with $2.7 billion in 24 deals, a 148% increase compared to $1.1 billion in 19 deals in Q1 2023.

Battery Recycling Company Mecaware Raises $42 Million

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