Cirba Solutions Secures Over $200 Million Investment to Grow its Closed Loop EV Battery Recycling & Materials Production in North America
Cirba Solutions, the largest and most comprehensive battery management and materials processor for end-of-life batteries and gigafactory manufacturing scrap, has received a $245 million minority investment from the EQT Infrastructure V fund (“EQT Infrastructure”). The Heritage Group, a fourth-generation family-owned business managing a diverse portfolio of companies focused on a safer, more enriching, and sustainable world, will remain the majority owner of Cirba Solutions.
The new investment from EQT Infrastructure will support the expansion of an existing lithium-ion facility in Lancaster, Ohio that should generate enough recycled battery material to power 200,000 EVs annually when complete. Additionally, Cirba Solutions has announced a new lithium-ion processing site in Eloy, AZ and expects to announce future processing locations that will further enhance the broad battery collection and processing network that Cirba Solutions has already established. Cirba Solutions expects to invest over $1 billion into the market over the next 10 years to continue its leadership and be the largest and most comprehensive battery recycling company in North America.