Battery tech startup DREV has raised €2.8 million in Seed funding to scale its Vault product line — a patented system that captures and recovers critical metals from hazardous “black dust” produced during battery manufacturing.
The round was co-led by Butterfly Ventures and Almi Invest GreenTech, with participation from S-E-Bankens Utvecklingsstiftelse and Battle Born Venture, the Nevada state-backed fund joining from the US.
“This round marks a defining moment for DREV,” said Arelys Sosa, CEO and co-founder. “It’s a testament to the passion of our team and the support of our advisors. Together, we’re building the foundation for a safer, circular battery industry.”
Founded in 2023, the company develops contamination control systems for gigafactories and recycling facilities — tackling one of the least-addressed issues in the battery value chain: the toxic micro-metal “black dust” that threatens worker safety, reduces efficiency, and wastes valuable raw materials.
Turning industrial waste into valuable resources
Battery manufacturing and recycling generate microscopic metal particles containing nickel, cobalt, lithium, and copper. DREV’s Vault system captures these at the source, transforming a dangerous byproduct into recoverable material. In tests at a world-leading gigafactory, Vault improved air quality, reduced surface hazards, and recovered metals previously lost to waste.
“We live in the age of gigafactories that continually produce ‘black dust’ — but also recoverable resources,” said Tanya Horowitz, Partner at Butterfly Ventures. “The DREV team’s deep sector experience positions them perfectly to turn this hidden problem into an industrial advantage.”
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Aligning with Europe’s new sustainability standards
As Europe enforces stricter compliance through the EU Battery Regulation and Critical Raw Materials Act, manufacturers face mounting pressure to meet sustainability and circularity targets. DREV’s technology helps facilities do both — improving worker safety, minimizing waste, and supporting regulatory compliance while enabling on-site material recovery.
“DREV turns a hidden safety and waste issue into a circular advantage,” added Jonas Bergqvist, Investment Manager at Almi Invest GreenTech. “It’s the kind of industrial impact we want to accelerate — recovering materials, protecting workers, and supporting sustainable production.”
Expanding across Europe and North America
The new funding will allow DREV to expand engineering and product development, establish Swedish manufacturing in Gothenburg, and deploy its Vault Mobile and Stationary systems across gigafactories and recycling facilities in Europe and North America.
“This funding lets us push the limits of our engineering roadmap,” said Thomas Tingelöf, CTO/COO and co-founder. “We’re scaling our test fleets and refining our core Vault technologies to ensure the highest performance and reliability.”
Backed by Vinnova, Business Sweden, Energimyndigheten, and EIT Manufacturing, DREV is emerging as one of Scandinavia’s most promising cleantech players — uniting worker safety, material recovery, and industrial efficiency under one mission: making the battery industry truly circular.
About DREV
Founded in Gothenburg in 2023, DREV develops advanced contamination control systems for the battery and manufacturing industries. Its Vault technology captures hazardous metal dust at the source, recovering valuable materials such as lithium, nickel, cobalt, and copper while eliminating chemical waste. By combining engineering precision with sustainability, DREV enables safer, cleaner, and more circular production environments for the next generation of gigafactories.
