Why We Invested in Recupere Metals: Rewiring the Copper Supply Chain
- Thomas Panton
- 1 day ago
- 3 min read
Updated: 15 hours ago
Copper is the nervous system of the energy transition. From electric vehicles (EVs) and wind turbines to grid upgrades, electrification depends entirely on high-performance copper wiring. Yet, the industry faces a looming crisis: global demand is accelerating while supply tightens, with a projected deficit of 6.5 million tonnes by 2035.
While recycling seems like the obvious solution, it currently fails where it matters most. High-performance electrical applications require high conductivity, and recycled copper ("scrap") typically contains impurities that disrupt electron flow. To fix this, the industry relies on energy-intensive smelting to "reset" the metal’s purity - a process that is costly, carbon-heavy, and heavily concentrated in China.
Recupere Metals is breaking this cycle.
By combining deep metallurgy with modern artificial intelligence, Recupere has developed a process to manufacture high-conductivity electrical wire directly from scrap, without smelting.
We are thrilled to have invested alongside SISTAFUND, and other outstanding European investors Norrsken VC, Ring Capital, Triple Impact Ventures, and Ventures Together, as well as exceptional angels including Sake Bosch.
Solving the Conductivity Gap
The core problem in the copper market isn't just scarcity; it is a qualification bottleneck. Manufacturers of EV motors and transformers buy qualified wire, not raw commodity copper. Historically, impurities in scrap meant it couldn't meet the 99% IACS conductivity standard required for these high-spec uses without being smelted back to near-perfect purity.
Recupere’s technology flips this paradigm. Instead of removing every impurity through smelting, their patented process manages them.
Industrial Economics, Not Just Green Premiums
At Endgame, we look for "climate-denier-proof" technologies - solutions that win on economics alone. Recupere fits this thesis perfectly.
By eliminating the mining and smelting steps, Recupere removes the most expensive and volatile parts of the supply chain.
Crucially, they are not selling a part of the solution. They are vertically integrating to sell finished, qualified wire directly to OEMs and industrial players. This captures the full value of the conversion process and ensures the company is not dependent on voluntary "green premiums" to survive.
A Team Built for Scale
Executing this vision requires a rare blend of scientific depth and commercial rigour.
Co-founder and CTO Julien Vaissette is one of a handful of experts globally with a PhD specialised in wire microstructure. His deep understanding of failure modes in metal deformation is the company's technical moat. Co-founder and CEO Katie Garner brings the commercial engine, with a background in investment banking and scaling climate infrastructure at Field, where she raised substantial capital and managed complex deployments.
The company started in Marble Studio, they have moved rapidly from concept to traction, securing significant LOIs and feedstock partnerships for their first commercial plant.
Massive Environmental Impact
While Recupere sells on performance and price, the climate impact is profound.
Smelting is a carbon-intensive activity. By bypassing it, Recupere’s process reduces CO2 emissions by 18x compared to traditional smelting. As they scale-up, they have the potential to avoid tens of millions of tonnes of CO2e annually at scale.
The indirect impact is non-negliable, as they are putting more copper supply in the market, enabling electrification at large.
Alignment with Endgame’s Thesis
Recupere represents the exact type of industrial innovation we back:
Commercially Superior: Upcycling low value scrap into high value end products that is cost competitive.
Technically Defensible: A proprietary mix of metallurgy and AI control that cannot be easily replicated.
Market Pull: Strong demand from automotive and industrial OEMs who need supply chain resilience.
Capital Efficient: Using off-the-shelf machinery enhanced by software, rather than building first-of-a-kind hardware risks.
Looking Ahead
Recupere Metals is moving from the lab to the industrial floor. This funding round will support the pilot phase and pave the way for their first commercial plant, capable of generating significant revenue by 2027.
We believe Recupere is building the foundation for a more resilient, efficient, and circular copper industry. We are proud to support Katie, Julien, and the team as they rewire the future.
