5 February 2024, Mainz, Germany -- Circunomics, a start-up founded in Mainz in 2019, is well on its way to establishing itself as the world's largest digital marketplace for the 2nd-life use and recycling of used batteries. This has created a trading platform that is unique in the important circular economy. No other known provider has AI-supported software that enables a comprehensive and detailed analysis of the State of Health (SoH) of the used battery plus simulation of its future use in 2nd-life using digital twin technology.
Felix Wagner, Founder and CEO of Circunomics, says, "In 2030, there will be 200-300 million electric passenger vehicles on the road, globally. This means that approximately six million used batteries will come onto the market each year. 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 consume fewer 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. 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 approved.
Offer for 2nd-life use and recycling companies
The digital marketplace is divided into two categories -- components that are suitable for further use in 2nd-life or those that need to go directly to specialized recycling companies. Suppliers and buyers can decide whether to use the Circunomics digital platform purely as a trading platform or to also utilize the Circunomics analytics product.
Circunomics assumes that in the coming years, business on the digital marketplace will be split equally between pure trading and trading with analysis and simulation.
2nd life use in a less stressful environment
According to analytics experts at Circunomics, there is no need to worry about the reuse of used batteries in 2nd-life applications. In most cases, batteries are used for the first time under very stressful conditions for the power storage unit. Take electric cars, for example. These batteries must function perfectly at positive and negative temperatures, are exposed to a wide variety of driving 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 does not have to withstand rapid, constantly recurring, and extreme alternating conditions. Its SoH is
sufficient for 2nd-life and enables continued use over many years.
Circunomics focuses not only on batteries from cars, but also on battery packs from trucks and buses, ships and aviation, as well as micromobility and production waste.
Investors impressed by Circunomics
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. The start-up has also received funding from the EU and the German government as part of the first financing rounds.
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