Copenhagen-based climate tech firm Nordic Salt Cycle, which extracts critical minerals from waste using molten salt, has secured €3.5 million from EIFO, The Footprint Firm, and Ananda Impact Ventures.
- Launched in 2024 by Stefan Vilner, Dr. James Amphlett, Dr. Daniel Cooper, and Kate Hesager, Nordic Salt Cycle develops molten-salt technology for recovering critical and strategic minerals from end-of-life products.
- The company’s process uses high-temperature molten salts to separate and extract materials such as lithium and rare earth elements from sources including EV batteries, wind turbine components, electronics, and permanent magnets.
- The method is designed to operate with lower energy use and fewer chemicals than conventional recycling techniques, enabling high-purity mineral recovery through a modular system that can be scaled and adapted to different waste streams.
Details of the deal
- Nordic Salt Cycle will use the fresh funding to bring its molten salt technology to market, expand its platform to new material streams such as wind turbines and electronics, and refine its operational systems as it moves toward commercial deployment.
- The investment will also help strengthen its ability to supply high-purity minerals from end-of-life products, supporting a more resilient and circular materials economy.
"Working with our business partners, we can now recover critical minerals from electric vehicle batteries to start with and have the potential to expand our platform into other areas, thereby closing the circular loop at low cost and with high scalability,'' claims Stefan Vilner, CEO and co-founder of Nordic Salt Cycle.
