Tozero has won the EPiC (Elevator Pitch Competition) organized by the Hong Kong Science and Technology Parks Corporation (HKSTP). The battery startup prevailed against 12 finalists in three categories – fintech, proptech, and mobility. The EPiC 2024 Champion title comes with prize money of around €84,000 (US$90,000), 1,100,000 Asian miles (a loyalty and frequent flyer program of Cathay Pacific airline) and valuable contacts with investors.
Tozero was founded in July 2022 by Sarah Fleischer and Ksenija Milicevic Neumann. Just two months after its founding, the startup already completed its first investment round. Led by Atlantic Labs, investors Verve Ventures and Possible Ventures invested a total of €3.5 million in the startup. Business angels such as Jonas Rieke, co-founder and COO of Personio, and Maximilian Wühr, CEO and co-founder of Finn, as well as former Volkswagen board member Jochem Heizmann also participated in the round.
Another milestone: In September last year, the young company opened its pilot facility for battery recycling. It uses the company’s proprietary hydrometallurgical recycling technology to sustainably recover all important materials from lithium-ion batteries. These include lithium, graphite, nickel, cobalt, and manganese. By returning these materials to the local battery supply chain, Tozero closes the battery loop in Europe.
First commercial delivery
The startup has since celebrated its first commercial delivery of recycled lithium from battery waste using the hydrometallurgical process. Sachin Samarakone from the Tozero team says:
“Our lithium is not only recycled, it is truly beautiful. This is proof of the purity and effectiveness of our recycling process, making it a highly sought-after material for various industries in Europe.”
And Sarah Fleischer, co-founder and CEO of Tozero, adds:
“Our goal is to really bring lithium-ion battery waste down to zero, and every tonne of recycled lithium is a significant step towards reducing our ecological footprint and achieving a net-zero future.”
