Solveteq

Solveteq is a UK-based spin-out from Imperial College London, founded in 2020 by Dr. A.K. Ola Hekselman, Professor David Payne, and Andrew Ballantyne. The company is focused on developing a more sustainable and efficient method for recycling lead-acid batteries. Dr. Hekselman, who serves as the CEO, is a co-inventor of the core technology and received a Faraday Institution Entrepreneurial Fellowship in 2019 to commercialize the research. This fellowship, along with support from Imperial College, was instrumental in the company's formation and initial development.

The core of Solveteq's business is a proprietary, low-temperature, solvent-based process for metal extraction. This technology addresses significant drawbacks of traditional lead recycling, which relies on energy-intensive and polluting high-temperature smelting. Solveteq's process utilizes Deep Eutectic Solvents (DES) to extract lead and lead oxides from used batteries at near-room temperature. This method can reduce energy consumption by up to 90% and CO2 emissions by up to 75% compared to conventional techniques. The recovered materials are commodities that can be used in the production of new batteries.

Solveteq operates on a business-to-business model, targeting battery recycling companies. Its primary revenue stream is licensing its patent-protected technology to these clients. The company also provides research and development support to its partners. The modular design of the technology allows for flexible and scalable implementation, making it suitable for integration into existing recycling plants without major redesigns. This approach makes it a viable solution for both large-scale operators and smaller facilities, particularly in emerging economies where informal, highly polluting recycling practices are common. The company has established partnerships with key industry players in Europe, the Middle East, Africa, and the US, including a collaboration with EcoBat, the world's largest lead recycler.

Since its inception, Solveteq has secured funding through multiple rounds, including seed funding in 2021 and grants from bodies like Energy Catalyst and Innovate UK. By March 2024, the company was testing a 1kg/hr prototype with plans to scale up to a pilot demonstrator. The company's efforts aim to tackle the significant environmental and health issues associated with lead pollution, a problem affecting millions globally.

Keywords: lead-acid battery recycling, sustainable metal extraction, Deep Eutectic Solvents, cleantech, circular economy, industrial chemicals, low-temperature recycling, environmental technology, battery materials, resource recovery, hazardous waste reduction, smelting alternative, spin-out, Imperial College London, Faraday Institution, emissions reduction, energy efficiency, metal recovery, chemical engineering, sustainable materials