Actus des entreprises
What will happen to EV batteries when they're used up?
We will discuss the business of "Bib Batteries" and its sustainability efforts in the battery industry based on Silicon canals' article.
What will happen to EV Batteries, When They're Used Up? Even if you do not follow the news on a daily basis, you have probably heard of BYD the largest EV (electric vehicle) manufacturer in China, at least once.
In China, there is a fierce price war in the domestic automobile industry, and not only BYD, but also China's Geely Automobile and the U.S.-based Tesla are lowering their prices.
On the other hand, the negative aspects of EVs are also being discussed. While there are stories of fire accidents, the focus of this issue is on the recycling of EV batteries.
In September 2024, Bib Batteries a startup based in Paris, France, raised a total of €2.2m (about 356 million yen) from several VC firms.In this article, we will discuss the business of Bib Batteries and its sustainability initiatives in the battery industry, based on an article by silicon canals.
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Real-time battery monitoring
Founded in 2021, the startup's mission is to extend the life cycle of EV batteries from their initial use to their second “life” (repair, reuse, recycle). Bib Batteries has developed an advanced technology that allows real-time monitoring of battery health without the need for additional equipment.
This monitoring technology not only extends the life of the battery, but also enables the prediction of its second “life” and maximizes its economic value.
Since its inception, the company's platform has tracked more than 40,000 batteries and has saved 2,000 tons of CO2 through its repair and reuse solutions. This is the result of its efforts to reduce its environmental footprint while promoting a circular economy for batteries.
2.2 Million Euro Financing Accelerates Technology Development and Business Development
Bib Batteries has successfully raised €2.2m in funding, with Family Ventures as the lead investor. NextGear Ventures, SuperCapital, Wendel Family Office, and Techstars Paris also participated in this financing.
Pierre-Amans Lapeyre, CEO of the company, said, "Thanks to this financing, we will be able to deploy battery monitoring and management technology on a large scale, giving our customers the tools to extend the life of their batteries during initial use and assign them a second 'life'."
CTO Martin Vaz also noted that the battery sector is still in its infancy, that there are few standards in force, and that until now it has been impossible to know the health of a vehicle battery in just a few procedures, but that is why reliable information about the condition of the battery throughout its entire period of use He explains the technical challenge and his company's service as a solution.
Challenges in EV Battery Management and the Potential of "Bib Batteries
Over the next decade, Europe will face the enormous challenge of managing 100 million EV batteries as they reach the end of their useful life. These batteries represent 40% of the price of a vehicle and emit 3 to 10 tons of CO2 equivalents per battery.
The Bib Batteries initiative is one potential solution to this challenge. By guaranteeing transparency regarding the health of batteries and offering solutions for reuse, repair, and recycling, the company aims to provide an economically viable solution while developing battery circularity.
In Japan, battery management is becoming increasingly important as EVs become more popular due to the presence of several giant automakers. The efforts of startups such as Bib Batteries could have implications for the Japanese EV market and environmental policy.
For example, cooperation with Japanese automakers and battery manufacturers may enable the creation of more efficient and sustainable battery management systems.
There are also more possibilities for collaboration with startups.
In Europe, there are many examples of startups trying to manufacture batteries for domestic production, such as the French battery manufacturer Verkor.
It is a unicorn company that has raised a total of €3.8b from various institutions and organizations, including European investment banks and the French public investment bank "Bpifrance", and is regarded as a key player in the European EV market.
It is quite possible that "Bib Batteries" will work as a complement to these startups.
