Gigamine launches recycling solution for booming EV market

UK start-up Gigamine is promising a ‘step change’ in efficiency and sustainability by developing new technology and solutions for lithium-ion battery recycling.

The plans include automated discharge and disassembly as well as increased efficiency in second life applications. It will also use renewable energy to build a sustainable circular system for the recovery of battery materials.

Gigamine says the UK will require 140GWh of cell production by 2040 in order to meet its electric vehicle (EV) target. The company expects recycling to supply 20-25% of the cathodic metals required. Scalable recycling facilities, each called a ‘node’, will address the fast-emerging market opportunity for recycled materials which is expected to ramp up significantly by 2024.

Gigamine intends to start construction of its first node this year and is exploring sites across the UK ahead of announcing another node in the second quarter of this year. Over the next five years, Gigamine aims to operate six nodes across the UK, as well as a refinery converting black mass into materials for reuse in cell manufacture.

Early-stage funder 7percent Ventures led the seed round and was joined by a group of prominent investors including Alejandro Agag, founder of the Formula E racing competition.

‘Building an automated, scalable and sustainable EV battery recycling solution is a critical requirement for the circular economy and a significant global market opportunity over the coming years,’ says Peter Cowan, director at Gigamine. ‘We aim to be a leading player in this domain and our collaboration with investors is one important step forward.’

And he adds: ‘We are hoping to make further announcements about partners and customers over the next few weeks and are excited to be attracting support from some of the leading names in the industry.’