DEScycle, a deep tech startup specialising in metal recycling from electronic waste, has raised €12.2 million in a Series A round. Leading the investment were BGF and Vorwerk Ventures. Cisco Investments, Kadmos Capital, and Nesta also participated as new investors.
DEScycle’s approach aims to address inefficient and environmentally harmful recycling methods with a new chemical solution: Deep Eutectic Solvents (DES). DEScycle plans to deliver a clean, scalable technology that tackles this problem, creating local circular economies of recycled metals that reduce the reliance on international supply chains.
DEScycle Chair, Ian Cockerill, said: “DEScycle has made significant progress over the last 18-months and the successful closing of this funding round is a strong vote of confidence for the team, the technology and our potential to revolutionise the metals industry. The business is paving the way for an environmentally responsible and profitable approach to metals recycling from e-waste. This is particularly relevant for growth areas, such as AI, which require a significant infrastructure rollout reliant on metals, all of which, due to their short lifespan, will be recyclable when DEScycle launches commercially.”
The funding will support the development of a pilot plant at Wilton International in Teesside, UK, set to demonstrate DEScycle’s DES technology on a smaller scale. This project aims to provide the necessary data for full commercial deployment. A larger-scale facility is planned for Gateshead in partnership with GAP Group, a leading UK e-waste recycler. The commercial plant will have the capacity to handle 5,000 tonnes of e-waste per year, yielding materials like copper, palladium, and gold.
Vorwerk Ventures Partner Dr. Dominik Steinkühler, commented: “We are excited to support DEScycle in transforming metal recycling starting with electronic waste. Their innovative technology not only improves efficiency and environmental impact but also enables upstream recyclers to integrate former downstream processes like smelting, creating new value in the supply chain. With a strong team and scalable solution, DEScycle is well-positioned to drive sustainable growth in the circular economy. This investment aligns with our mission to back companies that create meaningful change for people and the planet.”
Read the orginal article: https://www.eu-startups.com/2024/11/london-based-descycle-secures-e12-2-million-to-advance-e-waste-metal-recycling/
