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Munich-based battery recycling start-up Tozero has raised €3.5 million in a pre-seed financing round led by Atlantic Labs. The emerging firm has developed a novel process to recover critical materials such as lithium, nickel, and cobalt from lithium-ion batteries. The recovered materials will then be refined and used as fresh battery-grade material.

Lithium-ion batteries are crucial to enable decarbonization efforts and will be used to electrify mobility vehicles, machines, drones, and other appliances.

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