Aepnus Technology raises $8M in seed financing

Aepnus Technology, an Emeryville, California-based electrochemical platform developer working to improve circularity in battery supply chain chemicals, has raised $8 million in seed financing to accelerate the production of its novel end-to-end sodium sulfate recycling technology.

The round was led by Cambridge, Massachusetts-based Clean Energy Ventures with participation from Voyager Ventures, Lowercarbon Capital, Impact Science Ventures, Muus Climate Partners and Gravity Climate Fund.

Aepnus says it will leverage the funding to deploy pilot systems with customers across the battery supply chain, including critical minerals refineries, battery manufacturing plants and battery recycling facilities.

“The disposal of waste produced throughout the supply chain is a fundamental challenge to the scale-up of the domestic battery industry for mobility and the grid,” says Daniel Goldman, co-founder and managing partner of Clean Energy Ventures. “Led by a promising team, Aepnus brings a sustainable alternative to today’s high-cost and energy intensive solutions on the market. We’re eager to help the company as it scales its technology to decarbonize global battery manufacturing processes.”

As demand for batteries continues to rise, sodium sulfate waste from the lithium-ion battery supply chain increases. Aepnus says it aims to address this challenge through its scalable electrolysis platform, which converts sodium sulfate back into sodium hydroxide and sulfuric acid.

According to Aepnus, its advanced electrolysis process is 50 percent more energy efficient than traditional electrolysis processes and does not require components made of rare earth elements.

The company plans to expand its technology platform to produce other commodity chemicals over the next five years.

“The close of our seed round marks another milestone for Aepnus,” Aepnus CEO Lukas Hackl says. “We’re delighted to have an exceptional syndicate of investors onboard with unparalleled track records scaling the most innovative and impactful climate technologies on the market today. Our investors’ market expertise will be crucial as we double down on our growth strategy in the coming months to decarbonize the battery supply chain.”

Through its technology, Aepnus says it will mitigate a projected 3 gigatons of greenhouse gas emissions by 2050.

As part of the financing, Clean Energy Ventures’ venture partner, Mallika Gummalla, will join the board of directors.