Cleantech startup Tracegrow Oy is turning used alkaline batteries into organic certified fertilizers. The Finnish startup has just picked up a new capital boost and is set to expand operations.
Taking a used product and converting it into something that can still be of value is one of the fundamentals of moving Europe to a circular economy. And a circular economy is one of the most proactive ways we can reduce waste, decrease carbon consumption and promote more sustainable ways of living.
It’s a process that requires innovation and a flair for creativity. Finnish startup Tracegrow Oy is showing one way the circular economy can be approached – to reduce waste and address an emerging food system problem.
Fertilizers from batteries
The cleantech startup has discovered a way to produce organic certified fertilizers from used alkaline batteries. The company´s patented process is based on the separation of micronutrients from recycled alkaline batteries and industrial side streams. Tracegrow’s fertilisers are proven to reduce carbon emissions and enhance crop productivity compared to traditional methods.
The startup has now picked up a new investment from Nordic food tech VC, bringing its total funding raised since last summer to €2.5 million.
Mika Kukkurainen, partner and co-founder of Nordic Foodtech VC: “Reuse of non-renewable natural resources is important for all of us. Tracegrow´s magic-sounding technology enables a true circular economy and provides remarkable global potential. We are happy to join the company and support their development and growth.”
The innovative tech solution is certainly interesting for the food supply system which is currently facing several challenges. With a growing global population, supply chain problems and climate crisis impacting crop growth, finding new ways to keep Europe fed is one of the challenges that needs to be urgently met. Tracegrow’s solution is one way that crops can be grown whilst simultaneously reducing waste from energy sources – so it’s an all-around win-win.
Nordic Foodtech VC is investing explicitly in the future of food and food technology. The fund is enabling system level change and scale up Nordic innovations doing good for the people, planet and society.
Tracegrow´s CEO Mikko Joensuu commented: “We are happy that leading foodtech investor in Nordics is backing our growth. Nordic Foodtech VC is bringing insight, knowledge and networks from the food system to our company. Together we see great potential in helping primary production in transition towards more ecological and productive future.”