Copenhagen-based Nordic Salt Cycle has raised €3.5 million in pre-seed funding to commercialise its molten salt technology for the cost-effective, scalable recovery of critical minerals from sources such as electric vehicles, wind turbines and consumer products. The round includes investment from EIFO, Denmark’s state-owned green transition investment fund, existing investor The Footprint Firm, and German fund AnandaImpact Ventures.
Founded in 2024, Nordic Salt Cycle is developing molten salt processes for recovering critical and strategic minerals from end-of-life products such as electric vehicle batteries, wind turbines and electronics. Its patented technology is designed to provide a scalable, lower-cost route to high-purity materials, supporting the transition to a more circular and economically sustainable mineral economy.
The company’s modular approach aims to change how critical materials are recovered by providing a faster and more sustainable option compared to conventional recycling methods.
According to Stefan Vilner, CEO and co-founder of Nordic Salt Cycle, the company’s technology platform has the potential to significantly improve the recovery of critical materials such as lithium and rare earth elements:
Working with our business partners, we can now recover critical minerals from electric vehicle batteries to start with and have the potential to expand our platform into other areas, thereby closing the circular loop at low cost and with high scalability.
Nordic Salt Cycle plans to use its technology to turn end-of-life products, including batteries and permanent magnets, into a viable supply of critical minerals.
The company’s prototype is already operational, and tests show that its molten salt technology can separate and extract materials far more efficiently than existing methods while using minimal energy and significantly fewer chemicals, leading to strong unit economics.
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