German start-up Circunomics has secured €8 million in Series A funding to advance its battery lifecycle management system and promote a circular economy for lithium-ion batteries.
German start-up Circunomics has successfully secured €8 million in Series A financing to allow it to further develop its innovative battery lifecycle management system. The company is focusing on promoting a circular economy for lithium-ion batteries, which is crucial for addressing environmental concerns linked to battery disposal and resource extraction.
Circunomics operates a digital business-to-business (B2B) marketplace that facilitates the trade of used or surplus battery packs, modules, and cells. Through this platform, the company aims to transition energy storage systems from their initial use to second-life applications, which can offer further utility before ultimate disposal.
Central to Circunomics’ approach is its sophisticated software that provides a comprehensive analysis of each battery’s state of health (SoH). By employing digital twin technology, the system simulates various second-life applications, helping to identify the optimal uses for batteries based on their performance potential. In instances where batteries are deemed unsuitable for secondary applications due to their condition, the system directs those units to certified recycling firms, ensuring proper and environmentally responsible disposal.
Circunomics is actively forging connections among industry partners throughout the battery supply chain, thereby enhancing the potential for battery reuse and recycling. As CEO Felix Wagner stated, “Through our independent digital marketplace and detailed analytics, we aim to strongly contribute to bringing battery packs, modules, and cells into a meaningful, sustainable, and comprehensive circular economy.” He also highlighted a growing concern within the automotive sector, predicting that by 2030, the industry will generate between five to six million used vehicle batteries annually, amplifying the need for effective lifecycle management solutions.
Since securing the funding, the company has announced an expansion to the US with its first office outside of Germany, in Detroit, Michigan. With this expansion, Circunomics is entering one of the world’s most important battery markets. With over 1.3 million e-vehicles registered last year in the US, the market is expected to grow exponentially in the coming years.
Wagner continued: The successful conclusion of the Series A financing round and the investment of over eight million euros will enable us to take our internationalization and growth to the next level. Our Battery Lifecycle Management solution address a global challenge – how to utilize the full lifespan of each lithium-ion battery and subsequently secure an environmentally safe protocol for disposal. As we carry out all European business from our Mainz headquarters, we look forward to being able to better focus on the North American market through our new office in Detroit.”
The advancements being made by Circunomics exemplify the technological progress being made in battery management, with significant implications for sustainability and the broader goal of reducing waste in the electronics and automotive industries. The firm’s innovative approach could pave the way for scalable solutions that align with global efforts to combat climate change and promote sustainability.
