Cirba Solutions secures investment from Marubeni to expand circular EV battery materials supply chain
by CM staff
Marubeni invests $50 million in Cirba Solutions to expand its battery materials operational footprint supporting a circular EV supply chain.
CHARLOTTE — Cirba Solutions, battery management and materials processor for end-of-life batteries and gigafactory manufacturing scrap, announced a $50 million minority investment from the Marubeni Corporation. This investment supports Cirba Solutions’ efforts to expand its operational footprint addressing the needs of the market to create a sustainable closed loop battery materials supply chain.
With Marubeni’s global network and presence in the Asia-Pacific market with suppliers in the EV industry, this investment supports the need to provide more sustainable solutions for end-of-life batteries and manufacturing scrap that help reduce environmental impact while closing the supply gap of needed critical materials for electric vehicles.
“We are pleased to announce this additional investment as we continue to expand our Metals & Mineral Resources Division with a focus on sustainability and a circular supply chain for batteries,” said Manabe Kazumi, Assistant General Manager of the Metals and Mineral Resources Division, Marubeni Corporation. “Cirba Solutions’ extensive knowledge and expertise in battery materials, strategic roadmap for growth and commitment to helping future generations through its operations make it an ideal partner to service and supply the growing electrification sector.”
Cirba Solutions’ vertical integrated approach and coast-to-coast coverage positions it to support national collection programs and regionalized manufacturing needs for recovering these critical materials. With six strategically located active operational facilities, and a seventh estimated to open at the end of 2023 in Arizona, Cirba Solutions is a partner for manufacturers looking for a closed loop approach.
“Having Marubeni as a partner on our journey is of great strategic value,” said David Klanecky, President and CEO, Cirba Solutions. “They are engaged in various businesses across the supply chain in the lithium-ion battery market from materials supply to logistical coordination, and we are excited to partner with them supporting that market and share the vision for a circular economy.”
This most recent strategic investment in Cirba Solutions further augments the previously announced $245 million investment from EQT Instructure and the over $82 million from two recent Department of Energy grants from the Bipartisan Infrastructure Law.
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