Mainz, February 14, 2024 -- Start-up Circunomics significantly exceeded its own expectations in 2023 and closed the fiscal year with a trading volume of 279 megawatt hours of storage capacity (batteries, modules, cells). The young company is well on its way to establishing itself as the world's largest digital marketplace for 2nd-life use and recycling of used batteries. The advantages of using Circunomics as a global trading platform are outstanding for both sellers and buyers. Users receive a transparent marketplace and price overview with corresponding cost advantages. In addition, they benefit from detailed State of Health (SoH) and 2nd-life simulation using digital twin analytics.
The targeted reuse of used batteries in 2nd-life or their recycling ensures that less CO2 is produced overall and fewer valuable, raw materials are consumed. In the automotive sector alone, millions of used batteries will come onto the market in the near future. However, Circunomics is not only focusing on batteries from cars, but also battery packs from trucks and buses, ships and aviation, as well as micromobility and production waste.
Target: increase to three gigawatts of trading volume by 2026
Following the successful 2023 fiscal year, Circunomics' goal is to increase the trading volume to over three gigawatt hours by 2026.
The Circunomics digital marketplace is divided into two categories -- batteries that are suitable for further use in a 2nd-life application and batteries 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. Founder and CEO Felix Wagner assumes that by 2026, business on Circunomics' digital marketplace "will be split 50/50 between pure trading and trading with analysis and simulation".
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 are granted access to the digital marketplace. In this way, the company ensures that only reputable companies with high quality standards are considered.
Investors convinced by award-winning marketplace
Well-known 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 impressed by the digital battery marketplace idea. 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 came third in the "Spark Award" from Handelsblatt&McKinsey. Most recently, Circunomics was ranked 2nd among the best start-ups in the automotive industry in 2023 by the trade magazine Automobilwoche and McKinsey.
Press Contact:
Inga Swope
PR, Marketing & Communications Manager
M: inga.swope@circunomics.com
Circunomics GmbH
Große Bleiche 15
55116 Mainz
www.circunomics.com
www.linkedin.com/company/circunomics
E-world Booth: Hall 4/Booth 4E111