Cirba Solutions receives $50M investment from Marubeni Corp.

Battery management and materials processor Cirba Solutions, Charlotte, North Carolina, has received a $50 million minority investment from the Tokyo-based Marubeni Corporation. Cirba says this investment further supports its ongoing efforts to rapidly expand its operational footprint addressing the needs of the market to create a sustainable closed loop battery materials supply chain.Cirba says that with Marubenis expansive global network and strong strategic presence in the Asia-Pacific market with major suppliers in the electric vehicle (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 EVs.We are pleased to announce this additional investment as we continue to expand our metals and mineral resources division with a focus on sustainability and a circular supply chain for batteries, says Manabe Kazumi, assistant general manager of the metals and mineral resources division at Marubeni. 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.According to Cirba, gigafactory production scrap is expected to be the majority feedstock for black mass over the next decade, though end-of-life EV batteries will continue to become a larger source of recyclable materials. The company says its vertical integrated approach and coast-to-coast coverage positions it to support national collection programs and regionalized manufacturing needs for recovering the critical materials.The company has six strategically located active operational facilities and a seventh estimated to open at the end of 2023 in Arizona. The investment from Marubeni adds to the previously announced $245 million investment from EQT Infrastructure and over $82 million received from two recent U.S. Department of Energy grants under the Bipartisan Infrastructure Law.Having Marubeni as a partner on our journey is of great strategic value, Cirba President and CEO David Klanecky says.