A smart trading platform for waste EV batteries

A B2B platform hopes to create a circular market for used EV batteries to improve the sustainability of the transport sector

Spotted: According to the IEA, the number of electric cars on the world’s roads by the end of 2021 was about 16.5 million, triple the amount in 2018. While this may seem like great news for the environment, it is not all positive. That is because the current recycling rate for electric vehicle (EV) batteries is extremely low, with some estimates putting it at just five per cent. For electric mobility to represent a truly sustainable solution, this needs to change, and Stockholm-based Cling Systems is one of the organisations working on a solution.

Currently, when EV batteries reach the end of their life, they often end up in a fragmented system of car dismantlers, workshops, and wreckers. But connecting these to the businesses who want to use or recycle old batteries is difficult. In fact, according to Cling, logistics can account for almost 50 per cent of recycling costs. In response, the startup has developed an intelligent collection and trading platform that connects vehicle manufacturers and buyers of end-of-life batteries to vehicle scrap yards and dismantlers.

Cling’s platform aims to solve the logistics issues that prevent end-of-life batteries from being reused. It does this by aggregating data to allow recyclers and dismantlers to connect with buyers of end-of-life batteries. Through efficient matching of supply and demand, Cling enables the development of a circular battery recycling system while also maintaining a competitive market for the batteries.

While Cling’s marketplace is initially aimed at the Nordic region and Europe, the company hopes to expand to other areas. According to the company, “Our presence in the industry has already generated some exciting early conversations from key players. We have potential customers and partners from both Europe, North America, and Asia. Our vision is to make the electrical transformation truly sustainable.”

As battery technology becomes more vital to a sustainable future, we are also seeing a big uptick in innovations designed to deal with battery waste. Some of those we have recently covered include a riverboat powered by old EV batteries and repurposed EV batteries being used for energy storage.

Written By: Lisa Magloff