1 The EIC Accelerator Project

EIC Accelerator Program: Overview and Purpose

The European Innovation Council (EIC) Accelerator program is a pivotal initiative within the European Union aimed at fostering innovation and facilitating the growth of DeepTech startups and scale-ups. Designed to support high-potential companies, the EIC Accelerator provides a blend of grant funding and equity investment, enabling innovators to scale their operations, enhance their market presence, and drive technological advancements within Europe.

Funding Structure

The funding structure of the EIC Accelerator consists of two main components:

Role in the European DeepTech Ecosystem

The EIC Accelerator serves as a crucial catalyst for innovation within the European DeepTech and startup ecosystem. It focuses on supporting high-risk, high-potential projects that have the potential to drive substantial economic growth and technological advancement. By offering a combination of grant funding and equity investment, the program mitigates financial risks for startups, allowing them to pursue ambitious projects that may otherwise struggle to attract private investment due to their inherent risks.

Additionally, the program encourages collaboration between innovative companies and private investors, fostering a synergistic relationship that can enhance overall funding opportunities. This collaboration is essential for scaling operations and ensuring that innovative solutions reach the market effectively.

Tozero GmbH and the ToZero Project

Company Overview: Tozero GmbH, a German startup, is dedicated to addressing the pressing issue of lithium-ion battery waste through its innovative project, ToZero. The company's mission revolves around establishing a sustainable solution for managing and recycling lithium-ion batteries, which are pivotal in the current era of digitalization and electrification.

Project Acronym: ToZero

Project Description: The ToZero initiative aims to revolutionize the lifecycle management of lithium-ion battery waste. Given the exponential growth in battery usage—from electric vehicles to renewable energy storage—effective waste management has become a critical challenge. The project proposes a comprehensive solution to reduce battery waste to zero, thereby contributing to environmental sustainability and resource efficiency.

Technology Basics and Background

The technology underpinned by the ToZero project focuses on advanced recycling methodologies that can reclaim valuable materials from used lithium-ion batteries. This recycling process is not only essential for minimizing environmental impact but also for securing critical raw materials needed for future battery production, thus supporting the circular economy.

The project leverages cutting-edge techniques, including hydrometallurgical processes, to extract lithium, cobalt, nickel, and other essential components from spent batteries. These methods offer a higher recovery rate and lower environmental footprint compared to traditional recycling techniques. Furthermore, Tozero aims to implement innovative software solutions that track battery usage and lifecycle, enhancing the efficiency of recycling operations.

By focusing on sustainable practices, Tozero addresses the dual challenge of managing battery waste and meeting the rising demand for battery materials in a responsible manner. The initiative not only aligns with EU sustainability goals but also sets a benchmark for future innovations in battery recycling technologies.

Conclusion

The EIC Accelerator program plays a vital role in supporting innovative projects like Tozero, which seek to tackle pressing challenges in the contemporary technological landscape. By providing both grant funding and equity investment, the program enables companies to develop sustainable solutions that can transform industries and promote environmental stewardship. As demonstrated by Tozero GmbH and its ToZero project, the potential for innovation in battery recycling is vast, and with the right support, these efforts can lead to significant advancements in sustainability and resource management.

2 The Funding Rounds

# tozero GmbH: Funding Journey and Financial Overview

tozero GmbH, a Munich-based lithium-ion battery recycling company founded in 2022, has secured significant funding to advance its mission of bringing battery waste to zero through innovative recycling technologies. The company has experienced notable financial growth since its inception, with multiple funding rounds supporting its expansion.

EIC Accelerator Funding

In July 2024, tozero secured funding from the European Innovation Council (EIC) Accelerator program, receiving a grant of €2.5 million (approximately USD 2.7 million). This funding came after the company submitted its Step 2 proposal during the March 13, 2024 cut-off and successfully passed the Step 3 interview stage. The EIC Accelerator funding not only provided financial support but also granted tozero access to a valuable network of mentors and global opportunities.

The EIC Accelerator program has been a significant source of support for innovative European companies, with a total budget of €411 million allocated for the March 2024 funding round, distributed between grants (€165 million) and equity investments (€245 million).

Complete Funding History

tozero's funding journey includes several rounds:

As of November 2024, tozero's total funding reached approximately €17 million (including the EIC Accelerator grant).

Investor Information

tozero has attracted a diverse group of investors across its funding rounds: Lead Investors:

NordicNinja (Seed round lead investor)

Strategic Investors:

• In-Q-Tel (IQT)
• Honda
• JGC Group
• Atlantic Labs
• Verve Ventures
• Possible Ventures

Notable Angel Investors:

• Martin Hofmann (CTO, Volta Trucks and former CIO of Volkswagen)
• Axel Strotbek (former board member, Audi)
• Jochem Heizmann (former board member, Volkswagen)
• Rudolf Staudigl (former CEO, WackerChemie)
• Maximilian Wühr (CEO, FINN)
• Jonas Rieke (COO, Personio)

Company Valuation and Exit Events

The available search results do not provide specific information about tozero's current valuation. There is also no mention of any exit events such as IPOs, buyouts, or acquisitions involving the company, which is unsurprising given that tozero is a relatively young startup founded in 2022.

Business Expansion Plans

The funding secured by tozero is being strategically deployed to support its growth ambitions:

• The seed funding will enable tozero to build its first industrial-scale plant, often referred to as a First-Of-A-Kind (FOAK) plant.
• The company aims to scale up production of recycled lithium in Europe following its first commercial delivery in April 2024 from its operational Pilot Plant.
• tozero has ambitious plans to operate Europe's largest battery recycling facility by 2027.
• The funds will also support team expansion to facilitate the company's growth strategy.

As a lithium-ion battery recycling company focused on recovering critical materials such as lithium and graphite sustainably, tozero is positioning itself as a key player in addressing Europe's lithium supply gap and promoting a circular economy in the battery industry.

Sources: - EIC grant banner. in NEWS | Jul. 2024 · tozero secures EIC Accelerator funding from European Innovation Council · tozero lithium delivery. in NEWS | Apr. 2024.

• Tozero raises EUR 2.5 million in grant funding to EIC Accelerator ...
• Munich-based tozero raises €11 million to expand recycled lithium ...
• tozero Raises €11M in Seed Funding - FinSMEs
• EIC Accelerator March 2024 Results: A Detailed Analysis of Funding ...

3 The Press Releases

Overview of tozero GmbH

Company Background: tozero GmbH is a Munich-based startup founded in 2022 by Sarah Fleischer and Dr. Ksenija Milicevic Neumann. The company specializes in sustainable lithium-ion battery recycling, focusing on recovering critical materials like lithium and graphite to support a circular economy in Europe.

EIC Accelerator Funding: tozero GmbH secured EIC Accelerator funding from the European Innovation Council in 2024, following a successful Step 3 interview. This funding supports their innovative approach to battery recycling, addressing Europe’s lithium supply gap by recovering critical raw materials and reintegrating them into global supply chains.

Technology Advancements

• Graphite Recovery: tozero has achieved a significant breakthrough in recycling graphite, often considered unrecoverable due to conventional methods. Their process allows for more than 80% graphite recovery while preserving its morphological integrity on an industrial scale. This recycled graphite has been successfully used in battery cell production, demonstrating comparable performance to virgin graphite.
• Lithium Recycling: The company has also demonstrated a stable 80% lithium recovery rate, already meeting the EU’s 2031 recovery target. This has been achieved through collaborations with major companies like BMW, MAN, and Webasto.

Partnerships

• Strategic Partnerships: tozero has formed partnerships with battery waste suppliers across multiple countries to scale a circular, localized supply chain for lithium and graphite. This reduces Europe’s reliance on imports and the carbon footprint of battery production.
• Collaborations: The company is working with industries beyond energy, including ceramics and construction, to expand the use of recycled battery materials.
• Huayou Recycling Partnership: tozero has announced a partnership agreement with Huayou Recycling, the recycling arm of Huayou Cobalt, focusing on European battery recycling.

Funding Updates

• Seed Funding: tozero raised €11 million in an oversubscribed seed funding round led by NordicNinja, with participation from new investors such as Honda and JGC Group. This funding supports plans to build its first industrial-scale plant and scale up recycled lithium production in Europe.
• Total Funding: To date, tozero has raised a total of €17 million from investors, underscoring its potential to scale sustainable battery recycling worldwide.

Press Releases and Updates

• Media Coverage: tozero has been featured in various news outlets and competitions, including winning Hello Tomorrow's 2024 Global Challenge and Hong Kong's EPiC 2024 pitch competition. It has been named one of the Top 100 impact startups worldwide by Norrsken for two consecutive years.
• Press Release on Graphite Breakthrough: A recent press release highlighted tozero's achievement in producing battery-grade recycled graphite at an industrial scale, marking a significant milestone for Europe's battery industry.

Team and Awards

• Founders: Sarah Fleischer and Dr. Ksenija Milicevic Neumann are recognized for their expertise and drive in transforming the landscape for sustainable battery solutions.
• Awards and Recognition: tozero has received several awards and recognitions for its innovative approach to sustainable battery recycling, including being nominated for Norrsken 2023 Impact/100.

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Sources:

• EIC Accelerator: Statistics and Results from the March 2024 call
• tozero and Huayou Recycling Announce Partnership Agreement in Li-ion Battery Recycling
• Munich-based tozero raises €11 million to expand recycled lithium production
• Eight Bavarian deep-tech start-ups to receive EIC funding
• Press Release: Graphite - Battery Test

4 The Technology Advancements

tozero GmbH: Post-EIC Accelerator Funding Advancements and Market Progress Munich-based tozero GmbH, a leader in lithium-ion battery recycling, has scaled its operations significantly since securing EIC Accelerator funding. The company closed an €11M seed round in November 2024 (totaling €17M with grants), enabling its transition from pilot-scale to industrial deployment.

Technological Advancements
tozero’s proprietary process recovers lithium and graphite with higher purity while reducing emissions by ~70% compared to conventional mining. Key innovations include:

• CO₂-assisted leaching: Converts lithium into water-soluble compounds for efficient separation, achieving 80% recovery rates—meeting EU 2031 targets years early.
• Graphite recycling: Successfully tested industrially recycled graphite in battery cells, recovering >80% of the material while preserving structural integrity.

Market Demonstrations and Partnerships
The company has delivered commercial batches of recycled lithium since April 2024 and validated its technology through collaborations:

• Pilot with Circular Republic: Demonstrated stable lithium recovery alongside OEMs BMW, MAN, and Webasto.
• Industrial scaling: Current pilot processes 9 tonnes/day; FOAK plant aims for 30k tonnes/year capacity by 2026.

While no new patents or peer-reviewed studies are explicitly cited in available reports, tozero’s rapid commercialization suggests ongoing IP development tied to its unique hydrometallurgical process.

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Sources

• Global Brain Invests in Lithium-Ion Battery Recycler Tozero
• Tozero Raises Funding for Lithium Recycling Plant
• Tozero Secures €11M Seed Round
• High-Purity Recycled Lithium Production
• Industrial Graphite Recycling Breakthrough
• Honda-Backed Tozero Scales Operations

+ [All listed URLs represent distinct sources; duplicates omitted]

5 The Partnerships and Customers

tozero GmbH: Partnerships and Growth

Overview of tozero GmbH

tozero GmbH, a Munich-based startup, has been making significant strides in sustainable lithium-ion battery recycling. Co-founded by Sarah Fleischer and Dr. Ksenija Milicevic Neumann, the company aims to establish Europe's leading lithium-ion battery recycling plant by recovering critical materials like lithium and graphite. tozero has gained substantial recognition for its innovative approach, winning several global awards and being named one of the Top 100 impact startups worldwide by Norrsken for two consecutive years.

Partnerships and Customers

tozero has established partnerships with several prominent entities:

• BMW, MAN, and Webasto: tozero has collaborated with these companies on a pilot project that achieved an 80% lithium recovery rate, meeting the EU's 2031 recovery target.
• Huayou Recycling: tozero partnered with Huayou Recycling to process battery waste from both end-of-life electric vehicle batteries and production scrap, further enhancing the recycling capacity in Europe.
• Ceramics and Construction Industries: tozero is expanding the use of recycled battery materials beyond the energy sector by working with customers in these industries.

New Partners and Investors

Recent investments in tozero include participation from:

• NordicNinja: Led the seed round of €11 million.
• In-Q-Tel: A U.S. strategic public-private fund that participated in the seed round.
• Honda Xcelerator Ventures: Invested in tozero's seed round, emphasizing Honda's commitment to sustainable energy solutions.
• JGC Group: A global infrastructure engineering giant that also participated in the seed round.

New Customers

While specific new customers have not been highlighted, tozero has been expanding its partnerships with battery waste suppliers across multiple countries to scale up its operations.

Nature and Purpose of New Relationships

These partnerships and investments are crucial for tozero's growth strategy, focusing on scaling up sustainable battery recycling technologies. The collaborations aim to ensure a stable supply of recycled lithium and other critical materials in Europe, addressing the region's reliance on imports and contributing to a more circular economy.

Market Positioning and Technology Advancements

tozero's new relationships will position the company as a leader in European battery recycling. The collaboration with prominent industry players and the investment from strategic investors like Honda and JGC Group underscore tozero's potential to drive sustainable energy solutions and advance recycling technologies. By maintaining control over its operations while being open to partnerships, tozero ensures high-quality delivery and scalability while protecting its intellectual property.

Scaling and Technology Advancements

The funding will support the construction of tozero's first industrial-scale plant, enabling the company to process up to 30,000 tonnes of battery waste annually by 2026. This aligns with the EU's Battery Directive and further enhances tozero's technological capabilities in achieving high-purity lithium recovery with reduced emissions.

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Sources

• Global Brain Invests in tozero
• Press Release: Graphite - Battery Test
• Honda Xcelerator Ventures Invests in tozero
• Tozero Raises 11 Million Euros
• Battery Recycling Startup Tozero Sprints to Scale
• Munich-Based tozero Raises €11 Million
• Huayou Recycling, Tozero Announce European Battery Recycling Partnership
• Munich's tozero Aims to Rival Redwood Materials

6 The Hiring and Company Growth

tozero GmbH: Team Growth and Hiring Strategy Post-EIC Accelerator Funding Since securing EIC Accelerator funding in March 2024, Munich-based battery recycling startup tozero has prioritized scaling its operations and team. While the company’s exact current headcount remains undisclosed, its rapid expansion is evident through recent milestones and investor communications.

Team Expansion and Hiring Focus

• Growth trajectory: The company raised €11 million in an oversubscribed seed round in November 2024, bringing total funding to €17 million, with plans to expand its workforce to support the construction of its First-Of-A-Kind (FOAK) industrial plant.
• Key positions: Though specific roles are not detailed publicly, hiring likely targets process engineers, plant operators, and R&D specialists to optimize their hydrometallurgical recycling technology. The FOAK plant’s development requires expertise in chemical engineering and industrial automation.
• Scaling impact: New hires will enable operational continuity at the FOAK facility while maintaining compliance with EU Battery Directive targets (80% lithium recovery by 2031).

Leadership Stability

The founding team—CEO Sarah Fleischer (mechanical engineer/entrepreneur) and CTO Dr. Ksenija Milicevic Neumann (metallurgy expert)—remains intact, leveraging prior experience from the space sector and RWTH Aachen University’s research partnerships. No management changes have been reported post-EIC award.

Strategic Hiring Drivers

tozero’s emphasis on localized supply chains for lithium-ion battery materials necessitates talent adept at handling diverse feedstock types while minimizing carbon emissions—a process already achieving 70% lower emissions than traditional mining methods. Recent industrial-scale graphite recovery success further underscores the need for specialists in material purification processes.

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Sources

• Global Brain has invested in tozero
• TechCrunch: Tozero's $11.7M Seed Round
• TechFundingNews: €11M Funding Announcement
• Industrial-Scale Graphite Recovery Breakthrough
• tozero's Seed Funding Press Release

– A chat with tozero: Hello Tomorrow Grand Winner – Huayou Recycling Partnership Announcement – CORDIS Project Details: EIC Accelerator Grant "Bringing Lithium-Ion Battery Waste to Zero"

7 The Media Features and Publications

Media Features and Industry Recognition for tozero GmbH Munich-based tozero GmbH has emerged as a key player in Europe's battery recycling sector, gaining traction through technological breakthroughs and strategic partnerships. Below is a detailed overview of its media presence, publications, events, and recognitions since early 2024:

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Publications Featuring tozero

• Recycling Today highlighted the company’s industrial-scale graphite recovery breakthrough in February 2025, emphasizing its ability to produce battery-grade materials sustainably.
• Battery Recycling Expo covered tozero’s successful industrial testing of recycled graphite within functional battery cells, confirming compatibility with new production.
• MarkLines reported on its €11 million seed funding round (November 2024), led by NordicNinja, to expand lithium recycling capacity.
• TechCrunch detailed the startup’s ambitions to build an industrial plant capable of unlimited scaling while addressing global lithium shortages.

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Podcasts and Interviews

While no direct podcasts featuring co-founders Sarah Fleischer or Dr. Ksenija Milicevic Neumann were identified in the provided sources, Fleischer has been quoted extensively in press releases, emphasizing their mission: “Each tonne of recycled lithium represents a significant step toward reducing our ecological footprint.”

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Conference Participation and Event Involvement

tozero actively collaborates with industry leaders:

• Pilot Project Partnerships: Worked with BMW Group, MAN Truck & Bus, and Webasto on lithium recovery trials meeting EU targets ahead of schedule (reported mid-2024).
• Award Wins: Recognized as a Top 100 impact startup by Norrsken (two consecutive years), winner of Hello Tomorrow’s Global Challenge 2024, and EPiC Hong Kong pitch competition.

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Recent Operational Milestones

• Pilot Plant Success: Since July 2023, its Munich facility delivered high-purity lithium by March 2024, achieving an 80% recovery rate—exceeding EU’s 2031 goals.
• Graphite Scaling: By February 2025, it validated industrial-scale graphite recycling processes targeting over 2k tonnes annually by 2027.

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Sources Used: All Citations Directly from Provided Materials

```markdown -Press Release: Lithium Delivery - tozero -Battery recycler achieves industrial-scale graphite recovery -Graphite for batteries will be recycled on an industrial scale by “tozero” -tozero raises funding -Munich-based tozero raises €11 million -tozero Achieves Industrial-Scale Graphite Recovery -industrial-scale graphite recovery could close gap on Europe's supply chain -TechCrunch coverage on scaling plans ```