Circular Materials raises €11.8M to mine metals from wastewater

Italian startup Circular Materials has secured €11.8 million to scale technology that recovers critical raw materials from industrial wastewater. The SAFE financing was backed by CDP Venture Capital, the EIC Fund, EIT RawMaterials, 360 Capital, Corbites and Lumar.

The company treats industrial wastewater to extract critical raw materials, turning a waste stream into a source of valuable metals. Its patented Supercritical Water Precipitation (SWaP) process recovers more than 99% of dissolved metals from complex wastewater streams while cutting hazardous sludge. The fresh capital will primarily fund a new Circular Materials Hub in Ferrara and the continued scale-up of the technology.

Europe is racing to secure supplies of critical raw materials, which are essential to batteries, electronics, and the clean-energy transition. Recovering these metals domestically reduces reliance on imports and offers a more sustainable alternative to conventional mining.

Circular Materials sits at the intersection of two priorities for the EU — cutting industrial waste and shoring up strategic supply chains. As demand for critical minerals climbs, recovery from waste streams is emerging as a route worth backing.