Used batteries successfully reused in 2nd-life or recycled by specialized companies.
Start-up with unique analytics successful in the circular economy.
AI-supported software enables State of Health (SoH) analysis of batteries after use in 1st-life and a simulation of future use.
2nd-life use lowers CO2 footprint, reduces need for valuable raw materials, and ensures scalable cost reductions.
Well-known investors and prestigious awards are acquired for the innovative concept of a circular battery economy.
Mainz, Germany -- Founded in 2019, StartUp Circunomics is well on its way to establishing itself as the world's largest digital marketplace for the battery 2nd-life usage and recycling. The Circunomics trading platform is unique and important to the circular economy. No other known provider has AI-supported software that enables both a comprehensive and detailed analysis of the SoH of the used battery and a perfect simulation of its future use in 2nd-life by means of a digital twin.
Circunomics works independently of manufacturers and provides a comprehensive overview of the market. This ensures up-to-date, realistic pricing for used batteries. The cost benefits for buyers are considerable.
"The circular economy will become increasingly important in the future. This is a great opportunity for us to take a prominent position within the digital marketplace for used batteries," says Felix Wagner, Co-Founder and CEO of Circunomics. He continues: "In 2030, there will be between 200 and 300 million electric vehicles on the road. This means that approximately six million used batteries will come onto the market every year as returns from end-of-life vehicles. Reusing or recycling these in a targeted manner is a huge task that needs to be solved. After all, we all have one goal: to produce less CO2 and require fewer valuable raw materials."
Analytics by Circunomics is globally unique
"Our AI-supported software is unique and has many advantages for all parties involved. It provides a detailed overview of the technical SoH of the battery after its 1st-life use. Through these analytics, we can determine which 2nd-life application is best for the battery and predict how it will behave," explains Jan Born, Co-Founder and CTO of Circunomics. He adds: "In this way, we also ensure maximum transparency and help to determine a fair, realistic market price." Suppliers and buyers must go through an onboarding process before they can access the digital marketplace. By doing so, the Circunomics ensures that only reputable companies with high quality standards are considered. Circunomics make sure that they are aware of the risks posed by a highly complex battery and that they act professionally in terms of storage, transportation, installation, use, etc.
Offer for 2nd life use and recycling companies
The Circunomics digital marketplace is divided into two categories: batteries that are suitable for further use in a 2nd-life application and those that have reached end-of-life. These end-of-life batteries are offered directly to specialized recycling companies. Suppliers and buyers can decide whether to use the Circunomics platform purely for trade or to also employ Circunomics analytics.
Circunomics assumes that in the coming years, business on the digital marketplace will be split equally between pure trading and trading which includes analytics and simulation.
2nd-life use in a less stressful environment
According to analysis experts at Circunomics, there are no concerns regarding the reuse of used batteries in 2nd-life applications: "In most cases, the use of a battery in its first application takes place under very stressful conditions. Take electric cars, for example: they have to function perfectly at various extreme temperatures, are exposed to a wide variety of driving and usage conditions, and are alternately charged with 11 or 22 kW or at a fast charger with over 100 kW. Use in 2nd-life is generally much less stressful. For example, as a storage medium for a photovoltaic system, a battery won't need to withstand rapid, constantly recurring and extreme alternating conditions. A battery in its 2nd-life is completely sufficient for such a scenario and enables continued use for many years before end-of-life is reached.
CEO Felix Wagner states that "In 2023, we will trade 300+ MWh of storage capacity in the form of packs, modules, and cells via Circunomics. Our target for the next three years envision an increase to over three GW in 2026. This number would only cover a relatively small portion of battery backlogs. From today's perspective, three GW corresponds to approximately 50,000 complete batteries from current mid-range and luxury cars."
Currently, the platform offering is limited to the most widely used lithium-ion batteries, but the digital marketplace will continuously adapt to future requirements of new battery concepts. The platform will then also be able to offer additional models with analysis and simulation. Circunomics focuses not only on batteries from passenger cars, but also on battery packs from trucks, buses, ships and aviation. Micromobility and production waste are other relevant target groups.
Investors convinced by award-winning marketplace
Renowned investors such as Dr. Peter Mertens, former Board Member for Development at Audi and Volvo Cars, Bram Schott, former CEO of Audi, and the Polish multi-energy group Orlen are convinced by the idea of the digital battery marketplace. The start-up has also received funding from the EU and the German government as part of the first rounds of financing. Special awards have accompanied the Start-Up's journey so far: the US consulting firm Frost&Sullivan presented Circunomics with the "Best Practice Award 2023", the Mainz-based company was the national winner of the KfW "Gründen" award, was a finalist in the "Google&SAP Circular Economy Contest" and took third place in the "Spark Award" from Handelsblatt & McKinsey. Most recently, Circunomics was awarded 2nd Best Start-Up in the automotive industry by Automobilwoche & McKinsey.
The next financing round (Series A) will take place in the first half of 2024. The investments from this round will be used to further advance Circunomics' expansion as a global, digital marketplace for used batteries.
