tozero raises €3.5m in pre-seed funding to build battery recycling plant
The pre-seed round was led by Atlantic Labs to support the construction of a prototype recycling facility.
≈ £3.0M at €1 = £0.8677 on 7 Sep 2022
Munich-based climate tech startup developing a process to recover critical materials from lithium-ion batteries.
Munich-based climate tech startup tozero has secured €3.5m in a pre-seed funding round led by Atlantic Labs. The financing also saw participation from Verve Ventures, Possible Ventures, and a group of business angels including Jochem Heizmann and the co-founders of Personio and FINN.
The company will allocate the capital towards constructing its prototype recycling plant in Munich. tozero focuses on recovering critical raw materials such as lithium, nickel, and cobalt to supply back to battery manufacturers.
From the founder
"We need to act now and build a scalable and robust battery recycling process. At tozero, we’re committed to challenging the status quo of the material life-cycle to accelerate decarbonisation. This will allow us to enter the electrification era without worries, continue innovation and increase quality of life without compromising"
Sarah Fleischer
Co-Founder and CEO at tozero
Investor perspective
"Introducing a novel and sustainable way to recycle black mass from lithium-ion batteries is a game changer in the industry, allowing for significantly higher recovery rates of key metals than with currently used methods"
Daniel Niemi
Principal, Atlantic Labs
Use of funds
- 01Build out infrastructure
