Niocycle Receives $1.1 Million Investment

Niocycle, a startup that assists in the recycling of lithium ion batteries, has raised $1.1 million in a seed investment round. Niocycle will increase its industrial activities with the investment. The Turkish startup's investment round was led by SABIC Ventures and Diniz Holding. APY Ventures also accompanied this investment round.

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Niocycle Produces Battery Packs for Recycling

Niocycle was founded in 2021 by Yusuf Perçin (COO), Taha Uluhan (CEO) and Fatih Bosna (CTO). The startup aims to recycle lithium-ion batteries after they complete their first life cycle. The Turkish startup spent its incubation period in the Informatics Valley. In line with its circularity goal, the startup is trying to produce solutions such as stacking in the second use, recycling, production of recycling-friendly battery packs and replication of cathode materials. Niocycle ensures that the batteries do not disintegrate while recycling. It also utilizes a technology to ensure that the valuable materials in the batteries are not lost.

The Turkish startup's recycling method is effective. Thanks to recycling, the materials of the recycled batteries are also purified. In this way, no extra method is used to purify the materials. Niocycle performs recycling processes with high purity and low cost. The Turkish startup is currently working at the laboratory level. But with the investment, it will prove that they have the technology to carry out industrial-level studies.