Tozero has won the EPiC (Elevator Pitch Competition) organized by the Hong Kong Science and Technology Parks Corporation (HKSTP). The battery startup beat 12 finalists in three categories—fintech, proptech, and mobility. The EPiC 2024 Champion title comes with prize money of approximately €84,000 (US$90,000), 1,100,000 Asian Miles (a loyalty and frequent flyer program of Cathay Pacific), and important investor connections.
Tozero was founded in July 2022 by Sarah Fleischer and Ksenija Milicevic Neumann. Just two months after its founding, the startup has already completed its first investment round. Led by Atlantic LabsInvestors Verve Ventures and Possible Ventures invested a total of €3.5 million 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 VW board member Jochem Heizmann also participated in the round.
Another milestone: In September of last year, the young company opened its pilot plant for battery recycling. It uses the company's proprietary hydrometallurgical recycling technology to sustainably recover all key materials from lithium-ion batteries. These include lithium, graphite, nickel, cobalt, and manganese. By returning these materials to the local battery supply chain, Tozero closes the battery cycle in Europe.
First commercial delivery
The startup has now celebrated its first commercial delivery of recycled lithium from battery waste using the hydrometallurgy process. Sachin Samarakone from the Tozero team says:
"Our lithium isn't just recycled, it's truly beautiful. This is a testament to the purity and effectiveness of our recycling process, making it a highly sought-after material for various industries in Europe."
And Sarah Fleischer, Co-founder and CEO of Tozero, adds:
“Our goal is to truly achieve zero waste from lithium-ion batteries, and every ton of recycled lithium is a significant step toward reducing our environmental footprint and achieving a net-zero future.”
