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Lyon, October 6th, 2023 – In order to speed up its industrial and commercial development, MECAWARE has secured €40 million from a pool of investors, the French government, under the auspices of the France 2030 plan, and its banking partners.

This funding will enable the industrialisation of the pilot scheme for the recycling of battery production scrap (Gigafactories Scrap – ScrapCO2MET project), which will be operational in 2025. This tool will produce 50 tonnes of recycled metal per year, in particular, lithium, nickel, cobalt and manganese. To prepare for this development, MECAWARE is finalising the installation of its new Technical Centre on the outskirts of Lyon (Vénissieux). This 1,600m2 site includes offices, an R&D laboratory and a factory building.

MECAWARE, the only metal extraction process of its kind in the world

MECAWARE is currently focusing on the recycling of end-of-life batteries and production scrap from battery-making factories. Its technology is based on ground-breaking innovation in dynamic combinatorial chemistry. It uses the synergy caused from the capture of CO2 and the recycling of critical metals. Subject to four patents, it was recognised in 2020 by the American Chemical Society and the Nature Chemistry journal.
Its application enables the extraction of metals in a closed loop, free from inputs that impact the environment, without producing any effluent and with no special energy requirements. Consequently, its economic and ecological value is particularly appealing: the MECAWARE eco²-efficiency feedstocks to deposits and to evolutions in battery technology.
Arnaud Villers d’Arbouet, Co-Founder and CEO of MECAWARE explains: “MECAWARE is thus deploying a ground-breaking and scalable industrial solution as part of a circular economy approach. It makes it possible to secure supplies of raw materials, enabling the strategic independence of our territories to bolster the energy transition, all in compliance with EU Regulations. Our technological solution addresses the current problems caused by traditional processes.”

€40m to meet MECAWARE’s industrial development challenges

This fundraising operation carried out with a pool of investors was organised by Crédit Mutuel Innovation and the SPI2 fund managed on behalf of the State of France by Bpifrance as part of the France 2030 initiative. It was supported by some of MECAWARE’s long-standing investment partners, who thus consolidated their positions: EIT InnoEnergy, UI Investissement, Kreaxi, BNP Paribas Développement, Crédit Agricole Création. It follows on from the obtainment, at the start of the year, of State subsidies under the France 2030 Plan (ADEME, RRR) awarded to the ScrapCO2MET project in partnership with the companies VERKOR and MTB. This funding should also be supplemented by bank support provided by BNP Paribas, CIC, CERA and Bpifrance.

This fundraising will also enable the development of the operational governance of commercial activities and the structuring of the teams involved (workforces will increase from 40 people at the end of 2023 to 80 in 2024).

For Stéphane Simoncini, Director and head of the Deeptech hub at Crédit Mutuel Innovation: “We are proud to support Arnaud and his team in this new phase of their development. MECAWARE’s mission is to support the decarbonisation of transport in a virtuous manner. They are taking the lead in the strategic segment of recycling electric batteries and their metals and building an impressive ecosystem around themselves in the process.”

Magali Joessel, Director of the SPI Fund, comments: “The development of electrical mobility goes hand in hand with key issues regarding the procurement of raw materials in terms of both sovereignty and the environment We are convinced that Mecaware’s technology, which seeks to recycle and recover blackmass from end-of-life batteries or production scrap constitutes a valid response to these challenges. The metal extraction process they have created is an innovative solution that fits into the development of the French battery sector. Preparing the industrialisation of Mecaware and supporting its shift in scale chime perfectly with the raison
d’être of the SPI Fund.”

About MECAWARE
MECAWARE is an industrial company that produces critical metals through recycling technological waste through a disruptive and virtuous chemical process. In particular, we produce lithium, cobalt, nickel and manganese in the form of carbonates or metal hydroxides.
MECAWARE is currently focusing on the recycling of end-of-life batteries and production scrap from battery-making factories (Gigafactories). The quality and composition of our metal salts satisfy the specifications required by the battery industry; they can thus supply the producers of active materials (pCAM-CAM). We thus contribute to the industrial sovereignty of local areas and to the energy transition with a concrete solution for the circular economy.
MECAWARE was founded in December 2020. We will commission our first factory in late 2026 with a production capacity of 8,000 tonnes of metal per year. Our unique economic model, which is made viable by the technical/economic qualities of our production method, is based on the deployment of numerous compact factories within the local area that can process waste deposits at their collection, or even production, point. This enables an optimisation of the life cycle and of the supply chain, further boosting the environmental and economic efficiency of our activities.
MeCaWaRe: Metal & Carbon Waste Recycling – eco²-cycling for better future
Press contacts: Agence Monet – Véronique Bourgeois vb@monet-rp.com – 06 64 22 55 56

About Crédit Mutuel Innovation
Crédit Mutuel Innovation is a subsidiary of Crédit Mutuel Equity, specialised in venture capital investment (€4bn in assets under management). It makes equity investments of between €1 and €20m in innovative digital, life sciences and deeptech companies. Crédit Mutuel Innovation enables entrepreneurs to develop their growth potential by connecting them with companies within their ecosystems. Since it takes longer than 5 years to create a world-leading business, Crédit Mutuel Innovation makes long-term equity investments and builds lasting relationships with the entrepreneurs it supports.
Find out more: www.creditmutuel-innovation.eu
Press contact: Alexis Bollaert: – 06 63 73 82 97

About Bpifrance and the SPI2 Fund (Sociétés de Projets Industriels)
Bpifrance finances companies – at each stage of their development – with credit, collateral and equity. Bpifrance supports them with their innovation projects and internationally. Bpifrance also handles their export activities through a wide range of products. Consultancy, university, networking and acceleration programmes for start-ups, SMEs and Intermediate Businesses are also part of the offer proposed to entrepreneurs. Thanks to Bpifrance and its 50 regional offices, entrepreneurs can benefit from a single, efficient and local contact to help them overcome their challenges.
The SPI2 fund, managed by Bpifrance on behalf of the French government under the umbrella of the France 2030 plan, seeks to provide support for the development of industrial projects that offer the best business and job creation prospects for industrial sectors. It acts as a prudent equity investor with project companies that implement industrialisation projects selected according to their potential for growth, the current positioning of the industry and their contribution to the ecological and energy t ransition. It thus constitutes one of the financial levers of the Nouvelle France Industrielle [new industrial France].
For more information: www.Bpifrance.fr – Follow us on Twitter: @Bpifrance – @BpifrancePresse
Press contact: Pierre Cejka: pierre.cejka@bpifrance.fr – 06 63 78 64 21

About the France 2030 investment plan
– Reflects a two-fold ambition: to transform the key sectors of our economy (health, energy, automotive, aeronautics and space) sustainable through technological innovation, and to make France not only a stakeholder but an actual leader in tomorrow’s world. From fundamental research to the emergence of an idea right up to the production of a new product or service, France 2030 supports the entire life cycle from innovation to industrialisation.
– An unparalleled scale: €54bn will be invested to enable our businesses, universities and researchbodies to succeed in their transitions in these strategic sectors. The challenge: to enable them torespond competitively to the ecological and attractiveness issues of the future and to unearth the futureleaders of our most outstanding industries. France 2030 is defined by two cross-cutting objectivesconsisting in devoting 50% of its budget to the decarbonisation of the economy and 50% to emergingactors who can drive innovation without negatively impacting the environment (in accordance with theDo No Significant Harm principle).
– Collective implementation: designed and deployed in consultation with economic, academic, localand European stakeholders to identify the strategic policies and key actions. Project heads are invitedto submit their dossiers through open, demanding and selective procedures to benefit from Statesupport.
– Coordinated by the General Secretariat for Investment on behalf of the Prime Minister andimplemented by the Ecological Transition Agency (ADEME), the National Research Agency (ANR), Bpifrance and the Banque des Territoires.
For more information: france2030.gouv.fr | @SGPI_avenir

About UI Investissement
An independent company specialising in the development of non-listed French companies, UI has been a committed investor, for over 50 years, alongside directors of growing SMEs and Intermediate Businesses to construct and develop economically and sustainably efficient companies.
UI Investissement manages almost €1.5 billion in assets and invests with over 300 directors in business sectors essential to society, such as health, agro-business or industry and services. Growth capital and transmission, the historic core of UI’s activities, represent over half of its assets under management and allow over 50 companies to benefit from the operational expertise and the methodological tools developed by UI. In parallel, the teams and investment vehicles dedicated to innovation and consolidation can support companies throughout their life cycle and contribute to the economic dynamism of local areas.
UI relies on over 70 employees and more than ten regional sites, especially in Nantes, Orléans, Rennes, Caen, Reims, Strasbourg, Dijon, Besançon, Clermont-Ferrand, Lyon, Limoges, Marseille and Lille, not to mention its teams in Paris.
For more information: www.ui-investissement.fr Press contact: Laurent Maillard – 06 60 59 77 07 – communication@ui-investissement.fr

About EIT InnoEnergy
EIT InnoEnergy intervenes at the heart of the energy transition and is the main driver of innovation in the field of sustainable energy, providing the technology and skills needed to accelerate the green deal and make progress towards global decarbonisation targets and improve energy security and supply. Ranked the top impact investor in cleantechs in Europe in 2022, named one of the top ten active investors in deeptechs in 2023 by Sifted and recognised internationally as the most active investor in cleantechs, EIT InnoEnergy supports innovation in a number of fields. In particular, this includes energy storage, transport and mobility, renewable energy and sustainable buildings and towns.
EIT InnoEnergy is the spearhead in three strategic European initiatives: the European Battery Alliance (EBA250), the European Green Hydrogen Acceleration Center (EGHAC) and the European Solar PV Industry Alliance (ESIA).
EIT InnoEnergy was created in 2010 and is supported by the European Institute of Innovation and Technology (EIT), an independent European body created in 2008 to stimulate innovation and entrepreneurial spirit in Europe. Since its creation, EIT InnoEnergy has examined over 7,000 start-ups, launched more than 300 products on the market and supervised the filing of over 370 patents. Today, the EIT InnoEnergy team is made up of over 200 people, with offices in Europe and in Boston, USA. http://www.innoenergy.com

About KREAXI
Kreaxi is one of the leading French Innovation Capital companies investing in the capital of young innovative companies with high growth potential, managing over €145m in assets through a range of pan-European and regional funds. Kreaxi has invested in over 550 companies over the last thirty years (including 22 initial public offerings and over 300 disposals, 150 of which were industrial), and holds some sixty active participations in its portfolio, with a team of 10 professionals located in Lyon and Paris.
Website: kreaxi.com | Company page: LinkedIn
Contact: Pierre-Antoine COGNARD | pa.cognard@kreaxi.com

About BNP Paribas Développement
BNP Paribas Développement, the independent subsidiary of the international banking group BNP Paribas, is a public limited company which has invested its own funds, for over 30 years, as a minority shareholder to support the development of high-performance SMEs and Intermediate Businesses and ensure their long-term success by facilitating transmission. On top of the financial resources provided by the company to ensure sustainable resources, BNP Paribas Développement seeks to provide long-term support to the management team in the execution of medium-term strategic projects. Thanks to our minority status, our partners can enjoy tailored governance without interference in everyday management, while benefiting from the strength of a recognised group and the experience of a partner with over 500 varied interests.
Find out more: https://www.bnpparibasdeveloppement.com Linkedin: https://www.linkedin.com/company/bnp-paribas-développement
Press contact: Céline Argy / celine.argy@bnpparibas.com / 33664466046

About Crédit Agricole Création
A key player in risk capital for 20 years, having invested in over 130 start-ups, Crédit Agricole Création is a subsidiary of the regional fund Crédit Agricole Centre-est specialised in equity support for young, innovative companies. CA Création supports start-up within its geographical area and ensures its investments benefit from the wide range of expertise of the Crédit Agricole Group (the leading bank when it comes to financing renewable energies in France). Contact: Jordan Rivieiri | jordan.rivieiri@ca-centrest.fr