Nth Cycle recognized by BloombergNEF as cleantech pioneer
The former Oak Ridge National Laboratory "Innovations Crossroads" program member is being recognized as one of the '12 Climate Tech Innovators Building a Net Zero World' by BloombergNEF.
Nth Cycle is at it again, winning international awards while gearing up for the commercialization of its cleantech product.
The start-up, which was a member of Cohort 2 of Oak Ridge National Laboratory’s “Innovation Crossroads” program, is one of 12 winners of BloombergNEF’s annual award for potentially game-changing innovation in climate solutions.
BloombergNEF (BNEF) is a leading provider of forward-thinking primary research and analysis on the trends driving the transition to a lower-carbon economy. The award was conceived by Bloomberg’s energy-transition research arm as a way to spotlight early-stage innovators and identify those game-changing technologies that could power the Teslas of tomorrow.
“We are deeply honored to be recognized by BloombergNEF as one of the ‘2023 New Energy Pioneers,'” Nth Cycle posted on Twitter. “We work to establish a clean & just circular supply of the critical metals that are the backbone of the energy & transportation transition. We couldn’t have won the 2023 BloombergNEF Pioneers Award without the dedication of our inspired, brilliant team, who all share the common goal of modernizing the critical metals supply chain.”
Nth Cycle is one of six American start-ups honored with this award. Based in Massachusetts, Nth Cycle has devised a method to process metal ore and black mass from batteries, which is cleaner, greener, and cheaper. It plans to operate a toll model, where customers pay to have their metals recycled and own the end product, a precursor to battery cathodes.
“BNEF expects the battery recycling market to grow six-fold by 2030; that’s a big potential market for Nth Cycle, which refines ores with 44% lower emissions than today’s technologies,” the BNEF article explained. “Nth Cycle is at the commercial deployment stage and expects rapid growth given the market demand for critical metals.