Davencor Holdings has invested within the start-up, which is a College Faculty Dublin spin-out.
Licovolt, a College Faculty Dublin (UCD) spin-out that has developed a chemical compound and course of to recycle minerals from batteries, has secured funding from Davencor Holdings, the household workplace of John Corcoran, the founder and former CEO of Davenham Switchgear, a world chief within the electrical and information centre industries.
Licovolt, which is predicated at NovaUCD, was based in 2024 by UCD scientists Dr Tony Keene and Dr Steven Ferguson, and mining and processing entrepreneur Clint Zahmel.
The beginning-up’s patented chemical compound and course of can extract crucial minerals from spent battery materials and black mass at a fraction of the fee and emissions of present strategies.
Talking to SiliconRepublic.com earlier this 12 months, Licovolt government director Clint Zahmel claimed that the start-up’s course of “allows the infinite recycling of those crucial minerals”.
This creates a possibility for organisations manufacturing cathode energetic materials (CAM), which is important to the electrical car and electronics sectors.
The funding shall be utilized by Licovolt to advance its technological growth, because it scales globally. Moreover, as much as 10 new jobs shall be created over the following two years, within the areas of worldwide enterprise growth, finance, chemical engineering and battery innovation.
Commenting on the information, Zahmel mentioned “We’re completely thrilled to safe John’s backing as we scale up our operations. His deep understanding of {the electrical} and information centre industries mixed together with his confirmed monitor document of constructing profitable companies internationally makes him a useful associate for us.”
Corcoran added, “Licovolt represents a extremely thrilling alternative within the subject of battery recycling. The group’s progressive strategy and really robust technical basis positions them nicely for vital development on this evolving market.”
Physicists from Trinity Faculty Dublin just lately introduced funding for a analysis challenge which goals to develop the following era of sustainable batteries.
The three-year €750,000 challenge will examine alternate options to lithium-ion batteries, that are utilized in many digital units, together with smartphones, wi-fi headphones, toys, electrical autos and electrical power storage programs.
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