tozero
tozero develops hydrometallurgical processes to extract lithium, graphite and other materials from battery black mass, with a Munich base and a demonstration plant in Gendorf.
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About tozero
tozero GmbH was founded in 2022 by Sarah Fleischer and Ksenija Milicevic Neumann. Its imprint places the company in Munich. A pilot opened in Karlsfeld in 2023; the demonstration plant launched in March 2026 is located at the Gendorf chemical park in Burgkirchen. These production locations are distinct from the company's headquarters. The process treats black mass, the mixture produced by battery preprocessing, to recover lithium, graphite and other materials. Initial commercial lithium deliveries were announced in April 2024. During 2025, tozero reported tests of recycled graphite in battery cells and an exploratory agreement with JGC Japan. That agreement does not establish that Japanese production is already operating. Verified equity funding totals €14.5 million across two rounds, alongside a separate €2.5 million EIC grant. Fleischer left her operational role in September 2026. In October, the company announced Mark Bula as incoming Co-CEO alongside Neumann.
The Story
Sarah Fleischer and Ksenija Milicevic Neumann started tozero in 2022. The project progressed to a Karlsfeld pilot in 2023 and first commercial deliveries in 2024.
How tozero works
Business Model
B2B production of recycled materials and development of industrial black-mass processing capacity.
Revenue Model
Sales of recovered materials to industrial customers; prices, contracts and revenue figures were not disclosed in the consulted sources.
Products & Services
Key Products
- Litio riciclato / recycled lithium
- Grafite riciclata / recycled graphite
- Processo idrometallurgico per black mass
Core Use Cases
- Lithium and graphite recovery from batteries
- Secondary material supply to European industry
- Qualification of recycled graphite for new cells
Market & Clients
Key Customers
First deliveries were made to unnamed European industrial customers. BMW, MAN and Webasto are named in a pilot project, not established here as commercial customers.
Geographic Presence
How tozero competes
Competitive Advantages
- A process avoiding strong acids, according to the company
- Recovery of both lithium and graphite from black mass
How tozero grows
Growth Strategy
Develop Gendorf capacity and explore recycling projects in Japan through the JGC Japan agreement.
Distribution Model
Industrial supply of recovered materials, supported by black-mass suppliers and plant-engineering partners.
Strategic Insights
- Chemical processing is separated from mechanical preprocessing performed by partners.
- The transition from pilot to demonstration plant is documented; future commercial volumes remain targets.
Funding & Investors
Total Funding
Funding Rounds
- 2022 - Pre-seed: €3.5M
Lead: Atlantic Labs - 2024 - Seed: €11M
Lead: NordicNinja
Key Investors
Founding Team
Founders
Key Executives
- Ksenija Milicevic Neumann - Co-CEO; managing director
- Mark Bula - Incoming Co-CEO
Key Metrics
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Read AnalysisSources
- Imprint — tozero
- Company news — tozero
- Mark Bula nominato incoming Co-CEO — tozero
- Sarah Fleischer lascia il ruolo operativo — tozero
- Avvio della produzione a Gendorf — tozero
- Seed da 11 milioni — tozero
- EIC Accelerator — tozero
- Pre-seed da 3,5 milioni — Recycling Magazine
- Impianto dimostrativo nel parco chimico Gendorf — tozero / InfraServ Gendorf
- MoU con JGC Japan — tozero
- Recupero della grafite e test in celle — tozero
- Prime consegne commerciali di litio — tozero
- Avvio del pilota a Karlsfeld — electrive