Brisbane battery technology company Vaulta has received its first international investment as its aim to close the loop on a circular economy for batteries goes global.
Vaulta, a three-year-old company founded by design engineer Dominic Spooner, creates recyclable batteries from patented no-weld, easy-to-disassemble cases. These cases allow for internal cells to be removed, recycled and reused, saving the unit from being lost to landfill. New cells can also be added as battery technology continues to evolve.
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Now Niocycle, a Turkish-based company dedicated to making lithium-ion batteries more circular, has invested in Vaulta, whose battery applications range from stationary storage and electric vehicles to Defence.
Vaulta founder and CEO Dominic Spooner called the partnership a meeting of like minds, noting they would team up on development of battery products with recycling in mind.
“This investment essentially closes the loop on where batteries can go in the future,” he said.
“Our technology creates the capacity to rescue batteries that may traditionally have ended up in landfill, while Niocycle is similarly dedicated to ensuring they have more than a single life.”
Spooner said the partnership with Niocycle, also an early-stage tech company, was a vote of confidence in Vaulta’s work, and would allow for a joint focus on business development across the Asia-Pacific, as well as the US and Europe.
“Validation from recycling is critical to Vaulta’s success,” he said, pointing to the wider benefits of Niocycle’s investment.
“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.
“It proves what we’re doing has value to the recycling future. Recycling of batteries is not just a sustainability play. There are great economic benefits to be realised also, to individuals, communities and organisations through recycling and repairing instead of replacing and dumping expired units.”
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The partnership announcement comes alongside recent news of another round of investment in Vaulta by ASX-listed clean energy investment firm Renu Energy. Worth $250,000, it follows a similar tranche in January as part of an investment worth up to $1 million in total.
This second transition of funding will be used to expand Vaulta’s capability and capacity and will fund the employment of extra staff.
