Ning Wei (Post Doc) -I-Corps: Translation Potential of a Deep Eutectic Solvent Technology for Critical Metal Recovery from Expired Batteries

Entrepreneurial Lead(s): <<Ning Wei>> <<[email protected]>> Ning Wei, PhD in Chemical Engineering, is a postdoctoral scholar at the University of Kentucky. Dr. Wei has more than five years of research experience on biomass, specifically lignin. He is now working on the deep eutectic solvent (DES) for lithium-ion battery recycling project with the PI, Dr. Jian Shi. Dr. Wei is also very dedicated to entrepreneurship. He has participated in the Entrepreneurs Bootcamp Program in the University of Kentucky in 2020 and started a company called Musetudio Inc. Technical Lead: <<David Eaton>> <<[email protected]>> David L. Eaton, PhD in Materials Chemistry, is a Research Program Manager at the University of Kentucky Center for Applied Energy Research. He has 25 years experience in research and development, including in the areas of biomaterials and valorization of biomass, as well as extensive experience in electrochemistry including energy storage and electrowinning of metals. Principal Investigator: (only if different than the Technical Lead) <<Jian Shi>> <<[email protected]>> Dr. Jian Shi has a PhD degree in biological engineering and about 10 years of experience as a faculty member at the University of Kentucky. His research experiences and interests are related to biofuels, bioproducts, and renewable materials. His group has two patents related to the DES technology. Industry Mentor: <<Chris Houghtaling>> << [email protected]>> Chris Houghtaling is the Chief Executive Officer at RaiseLink, a platform that connects startups with the tools and resources they need to succeed. He is also a startup mentor for the Venture Mentoring Team, FAU’s Adam’s Center of Innovation Veterans Program, and is a member of the Alan B. Levan Center of Innovation at NSU’s Programming and Selection Committee. He was involved in the European Council and World Bank’s Pioneers of the Balkans, worked with scores of international accelerators/incubators and event organizers, CMO of DealMatrix, venture capital including expanding the European Super Angels Club across Europe, corporate innovation teams, consulted with Innovation consulting companies, and was on several advisory boards. Please use the prompts in this template to fill out the Executive Summary. When complete, it should be no more than 1-2 pages long. Remove all directions in this document before submission to MWIN. NSF I-Corps Eligibility There are two ways to be eligible for the NSF I-Corps program. Please fill in information for one of the following: 1. Completion of a Regional I-Corps program a. Hosting institution: Mid-South Hub b. Dates: Feb 6, 2024 2. Current or former NSF research award (within the last 5 years) a. NSF research award number(s): 2229521 Technology (Intellectual Merit) Our innovation is a high selectivity and sustainable Deep Eutectic Solvent (DES) method for the recycling of expired lithium-ion batteries that can more effectively, efficiently, and safely recover critical metals, such as lithium (Li), cobalt (Co), nickel (Ni), and manganese (Mn). Compared with current methods, our solvent has high selectivity for target metals, which will lead to high-purity products. In addition, the solvent can be derived from biomass and is recyclable, which means low cost and theoretically no wastewater treatment. In addition, different from traditional methods, our technology operates under mild reaction conditions, so it has fewer safety concerns and environmental hazards. Commercial Applications (Broader Impacts) Currently, 60% of the world''s lithium production is used for applications related to batteries, reaching up to 95% by 2030. However, the world isn’t mining enough lithium. The shortfall in lithium supply in 2030 will be nearly two times the entire amount produced in 2021, unless battery recycling is significantly increased. Cobalt and nickel, two other metals used in lithium-ion batteries, are in similar situations. One solution to this problem is battery recycling and critical metal recovery from expired batteries. However, current metal recovery methods are adapted from mining, and are not ideal for the needs of battery recycling. During the regional I-Corps program, our team interviewed 20 potential customers with decision makers such as CEOs, CTOs, and directors, or experts and engineers from battery recycling companies, battery makers, or EV makers. According to our 20 customer interviews, we found the most significant pain point for battery recycling companies is the removal of impurities from metal products with current methods. There are also some other problems with current methods, including environmental hazards, vast initial investment, and safety risks to workers. Our technology, however, can selectively recover metals from expired batteries and thus has great potential to produce high purity products. Therefore, the Chief Technology Officers of battery recyclers will be interested in our Deep Eutectic Solvent (DES) method to improve selectivity of their battery recycling process and increase the purity of the recovered metals. Please use the prompts in this template to fill out the Executive Summary. When complete, it should be no more than 1-2 pages long. Remove all directions in this document before submission to MWIN. Also, the Chief Technology Officers of battery makers or EV makers will be interested in our Deep Eutectic Solvent (DES) method to establish their battery recycling process for their own batteries. Current Commercialization Plan The University of Kentucky has filed two patents related to the technology and the team plans to license the two patents in the near future. Our company, Biovalor LLC, was founded in January 2024. Our next step will be to develop a complete process for the recovery of critical metals from expired lithium-ion batteries and ensure the resulting metal products can meet the needed purity standards for the industry. We plan to do further discovery in the National I-Corps program to more precisely identify the specific levels of efficacy and purity needed for adoption. We are also working toward the submission of a Phase I NSF SBIR application. We have completed our project pitch for the NSF SBIR/STTR program in February 2024 and received an invitation to submit a full proposal. We are planning to submit the full proposal in the next open window after we graduate from the National NSF I-Corps program. Once we have validated the technology with the market and ensured we can meet the industry needs, we plan to seek capital investment from potential angels and VC investors. Once our project is funded, our team will spend effort on scaling up our technology from TRL 3 (lab scale proof-of-concept) to TRL 5-6 (finish technology development and demonstration). During our 20 customer interviews, the team discovered that current metal recovery methods require vast initial investments in equipment. We will need to find out the exact investment size and why it is so expensive in the National NSF I-Corps program. In our scale-up, we will try to reduce costs from equipment and waste treatment. Our team is planning to connect with more potential customers and feedstock suppliers. Our target customers are battery recycling companies, battery manufacturers, and EV makers. We already have talked to people from 8 battery recycling companies, 6 battery makers, and 4 EV makers during our customer interviews in the Regional I-Corps program. We hope we can meet with more potential customers especially EV makers during the National I-Corps program. Meanwhile, we will start to get connected with feedstock suppliers for our solvent production. The potential feedstocks can be biomass, lignin, or chemicals derived from lignin. We will need to figure out who has feedstocks we need, talk with them, and find out if the feedstock is suitable for our solvent production, cost, and the amount potential suppliers can provide.