The Electric Tsunami: Giving New Life to Used Batteries

The Electric Tsunami: Giving New Life to Used Batteries

As the popularity of electric vehicles continues to rise, so does the concern about the environmental impact of their batteries. However, it is important to note that when we talk about end-of-life batteries, we are not talking about useless batteries. In fact, even after 10 years of use in an electric vehicle, these batteries still retain 70 to 80% of their capacity. This presents a huge opportunity for recycling and reusing these batteries, which can significantly reduce waste and contribute to a more sustainable future.

Several studies are currently being conducted to develop technologies that can recover 100% of the lithium from these batteries. In addition, many other studies have shown promising results in recovering over 90% of lithium and cobalt from used batteries. In France, the SNAM (National Battery Recycling Agency) already recovers more than 70% of the battery materials. This shows that there is a growing interest and effort in finding ways to give these batteries a second life.

One company that is leading the way in extending the lifespan of electric vehicles is Revolte. This specialized electric garage, located near Nantes, has set a goal to make vehicles last for 100 years. By offering repairs and maintenance services specifically tailored to electric vehicles, Revolte aims to prolong their lifespan and reduce the need for premature battery replacements.

Another innovative startup, Voltr, is focused on collecting end-of-life batteries, dismantling them, repairing any possible issues, and reselling them for a second life. While they currently mainly work with smaller batteries, Voltr recently raised 3 million euros to expand their operations. This kind of initiative not only contributes to reducing waste but also helps to make electric vehicles more accessible and affordable for a wider range of consumers.

On the other side of the investment landscape, Move Capital is a fund that is addressing the financing gap in the growth equity space. Founded by Hervé Malaussena, who has extensive experience in the tech and telecom industries, Move Capital aims to support European entrepreneurs in scaling their businesses. Malaussena noticed that a significant portion of investments in European tech companies came from American funds. By providing European funding options, Move Capital aims to support companies that want to keep their intellectual and managerial center in Europe.

Sophie Sursock, who joined Move Capital to share this vision, emphasized the importance of European investors for European companies. She stated, "We want to support companies that seek to maintain their intellectual and managerial center of gravity in France." This focus on European investors can also contribute to fostering European exits, allowing companies to grow and thrive within their home continent.

Move Capital's first fund, which closed in early 2022 with 100 million euros, has attracted investors such as Bpifrance, the European Investment Fund, and corporate giants like Orange and Nokia. With ticket sizes ranging from 10 to 15 million euros, the fund aims to invest in companies that have the potential to become future tech champions in Europe. They focus on the entire data value chain, from collection with IoT to data protection with cybersecurity, as well as storage, analysis, and processing of data. Their investments span across both services and hardware, targeting companies with an average Annual Recurring Revenue (ARR) of 5 million euros.

In February 2022, Move Capital made its first investment in the cybersecurity sector with Gatewatcher. This shows their commitment to supporting innovative technologies that address the growing need for data protection in an increasingly connected world. By investing in companies like Gatewatcher, Move Capital is not only providing financial support but also contributing to the growth and advancement of the European tech industry.

In conclusion, the convergence of efforts from companies like Revolte and Voltr, as well as the investment initiatives of Move Capital, highlights the growing importance of sustainable practices in the electric vehicle and tech industries. The potential to recycle and reuse end-of-life batteries presents a significant opportunity to reduce waste and create a more circular economy. It is crucial for all stakeholders, from manufacturers to consumers, to embrace these initiatives and contribute to a greener and more sustainable future.

Actionable Advice:

1. Educate yourself about the recycling and reusing options for end-of-life batteries. By understanding the potential of these batteries and supporting initiatives like Revolte and Voltr, you can contribute to the development of a more sustainable electric vehicle industry.
2. Consider investing in funds like Move Capital that focus on supporting European tech companies. By backing these funds, you can help bridge the financing gap and foster the growth of innovative European startups.
3. Support policies and regulations that promote the recycling and reusing of batteries. By advocating for sustainable practices, you can encourage the adoption of environmentally friendly solutions and contribute to a greener future.

By taking these actions, we can all play a part in mitigating the environmental impact of the electric vehicle industry and supporting the growth of sustainable technologies. Together, we can create a more sustainable and prosperous future for generations to come.