Current portfolio

Cirba Solutions

A leading battery recycling platform

Cirba is a full-service operator handling all OEM scrap and end-of-life battery chemistries, sourced via commercial customer relationships at 150+ collection points across the United States. Cirba to date has processed over 60M pounds of post-consumer batteries

  • Sector
  • Country
    United States
  • Responsible Advisor
    JD Vargas
  • Fund
    EQT Infrastructure V
Cirba Solutions

About Cirba

With over 30 years of operating track record, Cirba Solutions is a leading battery recycling platform in the U.S. with numerous existing customer relationships across major battery OEMs. Cirba operates five existing facilities with the capability to shred and recycle approximately 15 million pounds of lithium-ion batteries per year, along with a full suite of collection and logistics services, including over 10,000 pick up locations and over 1,300 collection vehicles

Market Trends and Drivers

US Lithium-ion battery recycling is a nascent and fast-growing market driven by accelerating tailwinds from increasing electric vehicle adoption (EVs expected to rise from ~5% of total vehicles in 2022 to ~40% by 2040) and battery scrap from U.S. onshore battery manufacturing growth (announced U.S. battery cell production capacity is expected to grow at a 40%+ CAGR from 2022 to 2028). Lithium-ion batteries are considered hazardous waste and cannot be landfilled, further accenting the need for specialty recyclers such as Cirba, with the market projected to be in a recycling capacity shortage by 2027.

Investment Potential

The Cirba Solutions investment is highly thematic to the EQT franchise. Cirba has a clear societal impact with a vision to become a critical part of energy transition infrastructure, providing a circular economy solution for hazardous battery waste and reducing reliance on virgin materials (sourced today from geopolitically unstable regions). The goal of our partnership with Cirba is to help the company grow and rapidly expand alongside the critical need for battery recycling in order to become the leading end-to-end lithium-ion battery recycling platform in North America.

Board of directors

  • Chairperson
    Luke Kissam
  • Board Member
    Jan Vliegen
  • Board Member
    Amy Schumacher
  • Board Member
    Jeff Laborsky
  • Board Member
    Chad Peterson
  • Board Member
    Steven Kinsbursky
  • Board Member
    JD Vargas


  • CEO
    David Klanecky
  • CFO
    Erin Sharpe
  • COO
    John Kelly
  • CTO
    Troy Thennis
  • CCO
    Jay Wago
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