Aepnus Technology, a developer of an electrochemical platform to improve circularity and reduce emissions in battery supply chain chemicals, announced it raised $8 million in seed financing to accelerate the production of its novel end-to-end sodium sulfate recycling technology. Clean Energy Ventures led the funding round, which also included Voyager Ventures, Lowercarbon Capital, Impact Science Ventures, Muus Climate Partners, and Gravity Climate Fund.
Aepnus will utilize the funding to deploy pilot systems with customers across the battery supply chain, including critical minerals refineries, battery manufacturing plants, and battery recycling facilities.
The lithium-ion battery supply chain produces millions of tons of sodium sulfate waste annually, which is disposed of in domestic and international landfills. As demand for batteries continues to rise, battery manufacturers are faced with the headache of dealing with this vast volume of waste while maintaining access to critical input chemicals such as sodium hydroxide and sulfuric acid.
Aepnus takes on these challenges through a highly efficient and scalable electrolysis platform that converts sodium sulfate waste back into sodium hydroxide and sulfuric acid, two of the battery industry’s essential input chemicals.
Inspired by the founders’ research on electrochemical water desalination at Lawrence Berkeley National Laboratory, Aepnus’ advanced electrolysis process is 50% more energy efficient than traditional electrolysis processes. It does not require expensive components of rare earth elements such as Iridium. And this competitive advantage enables the company to achieve market-leading unit economics valorizing an industry waste product.
Aepnus will be the first and only provider of an end-to-end and low-cost sodium sulfate recycling solution in the world, delivering battery supply chain customers access to crucial chemicals that are cost-competitive, produced locally, and carbon-neutral. Over the next five years, Aepnus plans to expand its technology platform to produce a host of other commodity chemicals. Through its technology, Aepnus will mitigate a projected 3 gigatons of greenhouse gas emissions by 2050.
In connection with the funding, Clean Energy Ventures’ Venture Partner Mallika Gummalla, PhD will join the Board of Directors. Gummalla is a seasoned technologist responsible for pioneering new materials, new technology platforms and new solutions in the electrochemical industry.
KEY QUOTES:
“The disposal of waste produced throughout the supply chain is a fundamental challenge to the scale-up of the domestic battery industry for mobility and the grid. Led by a promising team, Aepnus brings a sustainable alternative to today’s high-cost and energy intensive solutions on the market. We’re eager to help the company as it scales its technology to decarbonize global battery manufacturing processes.”
- Daniel Goldman, Co-founder and Managing Partner of Clean Energy Ventures
“Aepnus turns the battery industry’s biggest waste problem into a profit powerhouse.”
- Lowercarbon Capital Partner Christina Chang
“The close of our seed round marks another milestone for Aepnus. We’re delighted to have an exceptional syndicate of investors onboard with unparalleled track records scaling the most innovative and impactful climate technologies on the market today. Our investors’ market expertise will be crucial as we double down on our growth strategy in the coming months to decarbonize of the battery supply chain.”
- Lukas Hackl, CEO of Aepnus
