MECAWARE has secured €40 million to become a leader in battery recycling and production of strategic metals

This funding will enable the manufacturing of a pilot project for recycling scrap generated by battery production (Gigafactories Scrap Project – ScrapCO2MET), which will be operational in 2025. This machine will produce 50 tons of recycled metals per year, especially lithium, nickel, cobalt and manganese. To prepare for this development, Micaware is completing the construction of its new technical center on the outskirts of Lyon (Venicio). Offices, R&D laboratory and factory building are located on an area of ​​1,600 square meters.

Mikaware, the only mineral extraction process of its kind in the world

MECAWARE currently focuses on recycling used batteries and production waste from battery factories. Its technology is based on pioneering innovation in dynamic combinatorial chemistry. It uses the synergies that arise from carbon dioxide capture and the recycling of important minerals. It is the subject of four patents and was recognized in 2020 by the American Chemical Society and the journal Nature Chemistry.

Its application allows the extraction of minerals in a closed cycle, without harmful inputs to the environment, without wastewater and without special energy requirements. Therefore, its economic and environmental value is particularly attractive: Micaware’s environmental efficiency adapts to raw materials and battery technology development.

“MECAWARE is deploying a pioneering and scalable industrial solution within the framework of the circular economy concept,” explains Arnaud Villiers-D’Arbouet, Co-Founder and CEO of MECAWARE. “It makes it possible to secure the supply of raw materials and ensure the strategic independence of our lands in order to achieve ‘support for the energy transition, in line with EU regulations. Our technology solution addresses current problems caused by traditional processes.”

€40 million for industrial development challenges in Mikawer

This capital raising, carried out with a group of investors, was organized by Crédit Mutuel Innovation and the SPI2 fund managed by Bpifrance as part of the French state’s France 2030 initiative. It was supported by some of Micaware’s long-standing investment partners, who thus strengthened their positions: EIT InnoEnergy, UI Investissement, Kreaxi, BNP Paribas Développement, Crédit Agricole Création. This follows government support received at the beginning of the year within the framework of the France 2030 plan (ADEME, RRR) for the ScrapCO2MET project in partnership with VERKOR and MTB. This financing will also be supplemented with support from banks such as BNP Paribas, CIC, CERA and Bpifrance.

This financing will also allow the development of the operational governance of the business activities and the structuring of the participating teams (the workforce will be increased from 40 people at the end of 2023 to 80 people in 2024).

For Stephane Simoncini, Director and Head of Deeptech Hub at Crédit Mutuel Innovation: “We are proud to support Arnault and his team in this new phase of their development. MECAWARE is committed to decarbonizing transportation in a meaningful way, and they are taking the lead in the strategic sector of recycling electric batteries and their metals, building Impressive ecosystem around it.”

Magali Gossel, SPI Fund Manager, commented: “The development of electric mobility goes hand in hand with important issues related to the procurement of raw materials, both in terms of sovereignty and the environment. We are convinced that Mecaware technology, aimed at recycling and recovery represents the black matter generated by batteries “Used or production waste is a reasonable response to these challenges. The metal recovery process developed by Micaware is an innovative solution that fits into the development of the French battery sector. Preparing for Micaware’s manufacturing and supporting the transformation in terms of volume is fully consistent with the raison d’être of the SPI Fund.”

Focus on developing advanced innovations for the circular economy and energy transition.

The chemical process used by Micaware, which is unique in the world, was developed as part of French public research. It was developed by Professor Julien LeClair at the Laboratory of Applied Supramolecular Chemistry in Lyon (ICBMS: Université Claude Bernard Lyon 1, INSA Lyon, CPE Lyon and CNRS). After the initial technological development phase carried out by SATT Sud-Est, this technology has received significant investment and support from PULSALYS to decipher and optimize laboratory chemistry and define different processes protected by three patents, two of which will be held in Montpellier with Aix. – University of Marseille, Central University of Marseille, and ENSC. The support provided by SATT PULSALYS made it possible to establish the startup in 2020 following the appointment of Arnaud Villers d’Arbouet as co-founder and managing director.