Tozero was founded in July 2022 by Sarah Fleischer and Ksenija Milicevic Neumann. Just two months after its founding, the startup completed its first investment round. Led by Atlantic Labs, investors Verve Ventures and Possible Ventures invested a total of 3.5 million euros 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.
On its first anniversary in July, Tozero opened its pilot plant for battery recycling, which has now reached full operational readiness, according to the startup. It uses the company’s proprietary hydrometallurgical recycling technology to sustainably recover all important materials from lithium-ion batteries. These include lithium as well as graphite, nickel, cobalt, and manganese. By returning these materials to the local battery supply chain, Tozero closes the battery loop in Europe. The pilot plant in Karlsfeld on the outskirts of Munich is already able to achieve the minimum lithium recovery rate of 80 percent required by the EU for 2031, according to the startup.
“Tozero is a startup with a great idea”
Sarah Fleischer, CEO and co-founder, says:
“Together with our customers, suppliers, and investors, Tozero is at the forefront of the electrification revolution in Europe. The newly opened pilot plant is an important milestone in our mission to bring lithium-ion battery waste truly to zero.”
Bavarian state parliament member Stephanie Schuhknecht (The Greens) participated as a keynote speaker at the facility’s opening ceremony and stated:
“Renewable energies are the answer to the energy transition, recycling is a central answer to the scarcity of resources such as minerals and rare materials. You (Tozero, ed. note) strengthen the raw material supply for the economy and help Germany play a leading role in the circular economy in Europe.”
And Frederik Zohm, CTO of MAN, added:
“Tozero is a startup with a great idea. We all know that we need high recycling rates in the battery process in Europe, for example the Battery Regulation requires high recycling rates from everyone who puts batteries into operation. With this pilot plant, Tozero will really make a difference.”
