Startup Update – AraBat
In this exclusive dialogue, Raffaele Nacchiero, CEO of AraBat, a Green Alley Award 2024 finalist, shares some insights on how the startup has been performing since the award ceremony.
Congratulations on being a finalist of the Green Alley Award 2024! How do you think this has impacted or will impact your company? What changes have you already experienced since the event?
Being a finalist in the Green Alley Award 2024 has had a significant impact on our company. The award has increased our visibility within the circular economy community. It’s a prestigious recognition that highlights our commitment to sustainability and innovation. We’ve connected with other startups, investors, and industry experts during the event. These networking opportunities have opened doors for potential collaborations, partnerships, and funding. The award validates our business model and approach. It gives us credibility and reassures our stakeholders that we’re on the right track. Green Alley Award has been a catalyst for growth, and we’re excited about the positive changes it will continue to bring to our company.
Have you initiated any new partnerships since after participating in the award? If so, can you share more details about them?
Arabat has successfully initiated new partnerships after participating in the award with two prominent entities. Thanks to participating in the award, AraBat has come into contact with the European Recycling Platform (ERP) battery consortium, which could prove to be a crucial partner for the supply of end-of-life batteries and black mass in the future. After several discussions and in-depth analysis, ERP has expressed interest in establishing a strategic partnership with AraBat, once the latter formalizes the current agreements in progress with other industrial partners for the construction of a spoke plant and a hub pilot plant. Furthermore, AraBat started to talk with new potential partners, interested at initiating PoC Agreements for solving their current problems linked to the need for the recovery of critical raw materials from their gas meters and coke by-products.
How do you believe collaboration and partnerships can support the growth and development of your business?
Collaboration and partnerships play a crucial role in our business growth and development. Partnering with other companies allows us to tap into their expertise, technologies, and resources. For instance, joint research and development efforts can accelerate innovation and product development. Collaborating with complementary businesses helps us reach new markets and customer segments. By combining our strengths, we can penetrate markets more effectively.
What are the next steps, and how do you envision your company's evolution in the coming months/year?
The next steps for our startup involve closing our first investment round of about $2 million, for which we are in discussions with various venture capital funds and private investors. We will also sign a Joint Venture agreement with a Canadian company for the construction of a spoke plant and a Joint Development Agreement with an Italian multinational for the construction of a hub pilot plant. In parallel, AraBat continues to operate continuously to develop further technological innovations that may also go beyond the scope of lithium battery recycling.
What is one achievement of your company that you would like to share?
In recent months, we have received a commitment from a follower investor for the current investment round and have opened important channels for the realization of PoC Agreements concerning adaptations of our technology for additional starting matrices.
Thank you!!