Innovator Showcase: Alejandro Camargo

Alejandro Camargo, Co-Founder of BATx

Although many high-income countries have established supply chains for recycling car batteries, South American and African countries have received little investment in this critical area. Physics engineer and finance professional Alejandro Camargo has developed a system for repurposing lithium-ion Electric Vehicle (EV) batteries as renewable energy stores, providing backup supplies for when solar or wind power is unavailable. His business, BATx, is now looking to expand across South America to develop long-term partnerships with vehicle manufacturers.

 

 

Innovation and Impact: Repurposed EV Batteries

BATx specialises in acquiring redundant batteries from used EVs in South America, where existing disposal infrastructure is currently lacking. Batteries are repurposed into storage banks for renewable energy, without consuming finite natural resources like lithium. Instead, the lifespan of these materials is extended, while renewable power supplies are stabilised with stored energy provision. One weak link in existing renewable energy chains is the inability to generate power when the sun isn’t shining, or there’s a lack of wind. Equally, most domestic electricity networks lack significant energy storage facilities. BATx’s work aligns with the UN’s Sustainable Development (SDGs), regarding the provision of access to affordable, reliable and sustainable energy.

Alejandro has created a cluster of three self-funded sustainable development companies. These focus on sustainable mobility, sustainable energy, and sustainable storage. “Our value proposition is that we deliver both economic and environmental benefits,” he explains. “We reuse as much of each battery as possible to create a circular economy model in which we buy batteries from EV manufacturers, recycle them, and then resell them as a product. More than 95 percent of the materials in each battery are reused.”

Our value proposition is that we deliver both economic and environmental benefits.

Alejandro Camargo

How has LIF Impacted your Business and Future Plans? 

A key challenge for BATx has involved scaling up battery diagnostic procedures, which are difficult to conduct both quickly and consistently. LIF has been instrumental in terms of developing solutions and establishing relevant industry contacts, according to Alejandro: “It was an extremely enriching experience meeting people, making business connections and getting close to investors. There is no downside to this programme.”

BATx anticipates having ten full-time employees by late 2024, with plans to expand to Mexico, Chile, and Brazil. These are the biggest EV markets in Latin America after Colombia. Jaguar Land Rover’s Colombian representatives are currently in discussions with BATx regarding the lack the ability to track or recycle used batteries, despite the company’s recent pivot to manufacturing EVs. Alejandro also hopes to secure external investment to accelerate the growth of BATx’s during the current scale up stage, harnessing the skills taught by LIF on how best to seek investment.

It was an extremely enriching experience meeting people, making business connections and getting close to investors. There is no downside to this programme.