DREV Raises €2.8M To Recover Critical Metals From ‘Black Dust’ Amid Europe’s Gigafactory Compliance Push

The round was co-led by Butterfly Ventures and Almi Invest GreenTech, with support from S-E-Bankens Utvecklingsstiftelse and U.S.-based Battle Born Venture, Nevada’s state-backed fund, which is joining the round.

“This round marks a defining moment for DREV. It’s a testament to the hard work and passion of our team, and to the invaluable guidance of our board and advisors who have supported us every step of the way.Together, we’re building the foundation for a safer, circular battery industry,” said Arelys Sosa, CEO and co-founder, DREV.

DREV’s €2.8M Seed round comes amid a surge of 2025 European investments across the battery value chain.

While companies like Jälle Technologies (€2M) and UP Catalyst (€18M) focus on recycling or carbon production, and Voltfang (€15M) and Dexter Energy (€23M) target second-life batteries or AI optimisation, DREV tackles contamination control during battery manufacturing—a critical yet often overlooked area.

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By addressing hazardous “black dust” and enabling on-site recovery of valuable metals, DREV links raw-material recovery to sustainable production. Its solutions support worker safety, circularity and industrial efficiency, aligning with the EU Battery Regulation and Critical Raw Materials Act and strengthening Europe’s growing gigafactory ecosystem.

“At Butterfly Ventures, we look to invest in the best of the best, innovative companies that will change our world positively today and for our children’s future. We live in the age of Gigafactories and other mass-produced products that continually produce ‘black dust’, but also recoverable resources.

“The team at DREV is super experienced within this sector and we are so super happy to support them along this journey and beyond,” added Tanya Horowitz, Partner, Butterfly Ventures.

DREV provides advanced contamination control solutions for demanding manufacturing environments. Its patented Vault system enhances workplace safety, boosts operational efficiency, and enables recovery of valuable materials, supporting a circular battery value chain.

Founded in 2023 and based in Gothenburg, DREV has received backing from Vinnova, Business Sweden, Energimyndigheten, and EIT Manufacturing, and has validated its technology at a world-leading gigafactory.

The company is led by co-founders Arelys Sosa and Thomas Tingelöf, who bring decades of experience in scaling complex industrial and manufacturing technologies.

Battery manufacturing, recycling, and refining generate microscopic metal particles—known as “black dust”—which pose serious risks to worker health, operational safety, and profitability, while causing loss of valuable critical metals.

DREV’s patented Vault system addresses this challenge. Validated at a leading gigafactory, Vault has improved air quality, reduced surface slipperiness, and recovered resources that would otherwise be lost.

As hundreds of gigafactories and recycling facilities emerge worldwide the battery industry faces rapid growth alongside stricter sustainability regulations including the EU Battery Regulation and the Critical Raw Materials Act.

By capturing hazardous black dust at the source Vault turns a dangerous byproduct into a valuable resource, enhancing safety, reducing waste and boosting operational efficiency, while helping manufacturers recover critical metals and meet evolving regulatory standards sustainably.

“At Almi Invest GreenTech, we look for technologies that solve real industrial problems while driving systemic environmental benefits. DREV turns a hidden safety and waste issue into a circular advantage – enabling gigafactories to recover critical materials, save water, protect workers, and comply with the next step in sustainability standards. This is exactly the kind of industrial impact we want to accelerate at scale,” said Jonas Bergqvist, Investment Manager, Almi Invest GreenTech.

This new funding will allow DREV to accelerate development, expand commercial deployment, and establish Swedish manufacturing for its Vault Mobile and Stationary systems—designed to protect worker health, boost production efficiency, and recover critical metals such as nickel, cobalt, lithium, and copper.

DREV will set up manufacturing in Gothenburg for in-house production and deploy its technology in gigafactories and recycling facilities across Europe and North America, while also scaling commercial operations in Nevada.

“This funding provides the resources we need to push the limits of our engineering roadmap. It will allow us to accelerate product development, scale our pre-series test fleets and refine the core technologies behind the Vault product range, ultimately reducing our time to market and ensuring the highest standards of reliability and performance,” shared Thomas Tingelöf, CTO/COO and co-founder, DREV.

About DREV

DREV transforms industrial cleanliness with advanced contamination control technology for high-stakes manufacturing. Its solutions eliminate harsh chemicals, improve material recovery, and promote a circular, closed-loop system turning hazardous waste into valuable resources like lithium, nickel and cobalt while ensuring safer, more efficient, and sustainable operations in modern factories.