Seed funding secured!
Circular batteries. This is massive.
The potential: Lithium-ion batteries are soon the backbone of our energy systems. They will all reach end-of-life. When they do, they transform into highly valuable assets of critical raw material that must be recycled to ensure independent and sustainable supply to new batteries. Efficient recycling will be a key component to introducing competition in energy storage.
Cling is the beginning of a new digital collection system.
Designed to go global.
Profitable circularity requires a new level of market intelligence
The problem: Battery systems come in all shapes and forms and with vastly different electrical properties. Each of these have been used differently and must individually be evaluated for reuse, repurposing and recycling. These factors creates a massively complex matching problem – where should each and every battery go? Add to this, batteries reach end-of-life in a very fragmented ecosystem.
Cling’s solution: We solve this massively complex problem with a relatively simple solution to start with, a b2b market platform targeting the end-of-life ecosystem of lithium-ion batteries. This is, however, only the beginning.
What Cling does
The Cling platform
Our platform offers one uniquely comprehensive solution for all to enable reuse and recycling at scale. Cling’s platform allows verified professionals to trade used batteries based on their specific needs. Our value creation is comprised of three critical offerings:
- aggregated batteries
- structured and comprehensive data
- simple and safe logistics
The green electric revolution
Lithium-ion batteries power the rapid electrification of the energy and transportation sectors that currently account for 3/4 of all greenhouse gas emissions.
Batteries solve one problem with another
Today, production of lithium-ion batteries consumes unsustainable amounts of energy while emitting considerable amounts of GHG emissions. In addition to this, there are ethical and social dilemmas connected to the extraction of raw materials. Therefore more batteries need to be recycled at a higher efficiency rate.
When a battery has fulfilled its purpose in the first application it can often be remanufactured and used in a so-called second life. The battery’s life is extended through recirculation, and we are using the planet’s resources in a more efficient way. In theory, it is very simple. The challenge is to apply this in reality which sets high demands on logistics, management and cooperation.
The b2b market platform
The online mine works as a platform in order to match battery-owners with recyclers and re-manufacturers. A match that is not being made efficiently today. Through the online mine, the battery will find its way to the right circular value stream based on the data requested by the buyer.