The Next Web reports that the 2020-founded startup specializes in recycling end-of-life batteries and also manufacturing the plants that are responsible for doing this process. The technology was developed from scientific research at University of Lyon, which implied using carbon dioxide to separate the various metals found within lithium-ion batteries, so that industry members can recover and reuse them.

Mecaware experts argue that their battery material-recovering process is unique in the sector, while also being cost-effective and planet-friendly.

The French government is among those who participated in the latest investment round, which could allow the company to industrialize the CO2 battery-recycling system. In turn, this could help generate 50 tons of recycled metals annually, such as lithium, nickel and cobalt.

The first industrial complex Mecaware officials are looking to finalize now is located in Lyon and will be made of offices, a factory and a research and development facility, all of which starting operations in 2025.

With an estimated 12 million tons of batteries from EVs and hybrid vehicles being available by the end of this decade for recycling, it's safe to say that Mecaware's solution could prove extremely valuable to this sector, should it keep up with demand.

Arnaud Villers d’ Arbouet, co-founder and CEO of the startup, said that "[Mecaware’s approach] 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."