Deal Type

  • Fundraising

Avolta is delighted to have acted as sole financial advisor to Mecaware on its €40m financing. Mecaware secures €40m to industrialize its CO2-sourced process and accelerate the production of critical metals by recycling batteries.

Transaction structuration. This round of financing is being carried out by a pool of investors including Crédit Mutuel Innovation, BPI France’s SPI2 fund, and Mecaware’s historical investors, who are strengthening their position: EIT InnoEnergy, UI Investissement, Kreaxi, BNP Paribas Développement and Crédit Agricole Création. This financing follows the receipt of subsidies from the French government (France 2030).

Transaction rationale. These funds are intended to support Mecaware’s ambition to position itself as the future leader in the battery and strategic metals recycling ecosystem in France and Europe. This funding will support the industrialization phase of the project to recycle scraps from battery production, with the first pilot plant in operation in 2025.

About Mecaware. Mecaware is a French DeepTech/GreenTech company that has developed a disruptive Eco efficient technology to recycle critical metals from technological waste. Since 2021, Mecaware has been developing a unique metal extraction process. This new patented breakthrough process enables the virtuous production of lithium, cobalt, nickel, manganese, and other materials. It selectively extracts metals from production scrap and end-of-life batteries. Less polluting, less costly and less energy-consuming than current processes, this solution will benefit the “gigafactories” that manufacture batteries for electric vehicles.

About Avolta. Avolta is a leading Paris-based tech investment bank. Avolta advised more than €2bn in transaction volume over the past 10 years with a deep focus in the industrial Deeptech industry.

This transaction sets another fundraising landmark in the industrial Deeptech expertise after raising $31m for Woodoo with LowerCarbon, €15m for Toopi with IDIA and Agri Impact and €20m for Unseenlabs with 360 Capital, Omnes and Swen Blue Ocean.