The Circular Economy Accelerator by the Circular Valley Foundation has established itself as a launchpad for international and national circular economy startups. Only recently, the tenth batch of the program concluded in the Rhine-Ruhr region. However, support for the participating companies does not end with the program’s completion: Circular Valley continues to accompany its alumni long-term and tracks their development.

“Startups are the heart of our work. We are all the more delighted when they achieve important milestones after their time in the accelerator,” says Dr. Carsten Gerhardt, Chairman of the Circular Valley Foundation. Continuous exchange with alumni is a deliberate part of this approach, aimed at making progress visible and strengthening innovations in the circular economy.

The funding helps the young company secure important partnerships and implement its first on-site facility

A current example of this progress is REEgen, a startup from Batch 9 of the Circular Economy Accelerator. The U.S.-based company, specializing in the sustainable recovery of critical raw materials, recently achieved a significant milestone: REEgen was awarded an Innovation Matching Grant of $200,000. The funding is provided by New York’s economic development agency as part of a program supporting technology-driven companies.

The funds are linked to an ongoing project funded by the U.S. National Science Foundation and are intended to accelerate the next steps toward commercializing the technology. Specifically, REEgen plans to deploy its BioREEcover solution in industrial settings to recover valuable metals from byproducts such as slag or e-waste.

With its biological approach, the startup aims to replace resource-intensive and environmentally harmful processes in conventional mining, contributing to a more resilient and sustainable raw material supply. “Support from the NYSTAR Innovation Matching Grants program comes at a pivotal moment for REEgen. These funds will help us lock in key commercial partnerships by launching our first on-site BioREEcover unit,” says Dr. Alexa Schmitz, Co-Founder and CEO of REEgen, on the company’s website.

The funding demonstrates: Startups from the Circular Economy Accelerator also deliver economically

“REEgen’s success demonstrates how circular solutions can deliver not only ecological but also economic benefits,” says Dr. Carsten Gerhardt. REEgen is one of more than 170 startups from around the world that have been supported by the Circular Economy Accelerator since 2021. During the program, these young companies benefit from an international network of industry, science, and investors, as well as hands-on support in developing their business models.

REEgen’s development highlights the potential of the innovations emerging from accelerator participants – and the importance of long-term support beyond the initial funding phase.