Brisbane-based recyclable battery start-up Vaulta has won its first international investor, with a Turkish-based company called Niocycle jumping in on a second tranche of funding to help make the booming battery industry more sustainable.
Vaulta makes recyclable batteries for energy storage applications ranging from electric vehicles to defence and stationary storage.
Its patented no-weld, easy-to-disassemble battery cases allow for internal cells to be removed, recycled and reused, and for new cells to be added as battery technology continues to evolve.
Vaulta says its partnership with new investor Niocycle, a company dedicated to making lithium-ion batteries more circular, will allow for a joint focus on business development across the Asia-Pacific, the US and Europe.
The new partnership follows a previous investment in Vaulta by ASX-listed Renu Energy, worth $250,000, and a follows a earlier round of funding in January as part of an investment worth up to $1 million in total.
Vaulta says the second transition of funding will be used to expand its capability and capacity as well as to fund the employment of extra staff.
“This investment essentially closes the loop on where batteries can go in the future,” said Vaulta founder and CEO Dominic Spooner.
“It proves what we’re doing has value to the recycling future.
“If recyclers see the value, ultimately it can be shown to the customers that it is a better-performing product for industry, both now and in the future.”
Niocycle cofounder and CEO Taha Uluhan says it expects the partnership with Vaulta to help take its own circular battery mission to the next level.
Together, we’ll be able to create a 100% circular battery, from cell to pack and back to active materials again,” Uluhan said.
“This means focusing on recovering important materials from end-of-life and scrap batteries and enabling them to be re-used in the production of new battery cells.
“By doing so, we’re not only reducing waste, but also minimising the environmental impact of battery production.”
On top of its success with local and international investors, Vaulta was one of 11 Australian battery start-ups to have been selected, in February, for “hyper-acceleration” by Supercharge Australia – a partnership between EnergyLab and New Energy Nexus.
The program saw the 11 start-ups matched with mentors and coached on pitching their offerings and collaborating with other companies.
Last year, Vaulta won the 2022 Australian Good Design Award for Sustainability for its “Simply Superior Battery Casing Technology,” which weighs and measures 10-15% less than traditional battery casing and is battery cell-agnostic.
