Posted / September 05, 2023
Sortera Technologies Attends IAA Mobility 2023 Conference in Munich
MARKLE, Ind., Sept. 5, 2023 — Sortera Technologies, Inc., an innovative material sorting company with an upcycling platform powered by artificial intelligence, data analytics, and advanced sensors, will be at IAA Mobility 2023 at the Messe München exhibition center in downtown Munich.
Sortera Technologies CEO, Michael Siemer and VP of Commercialization, Ben Pope will attend an adjacent event participating with IAA’s partner Assembly Ventures during their Assembly Summit at the Visionary Clubhouse (located at Hall A2) on September 6, joining other disruptive companies as they share their vision and how they contribute to the entire mobility ecosystem. A keynote presentation by Sortera’s CEO Michael Siemer, “Are Tomorrow’s Cars on the Road Today?” will focus on when vehicles reaches its end-of-life cycle, how can aluminum become part of a truly circular supply chain? Mr. Siemer’s keynote will illustrate how an innovative AI powered recycling business is transforming the industry, and beyond. Mr. Pope will be part of the “Reuse Recycle Repurpose” panel, which will discuss “the latest developments on how the automotive industry, including suppliers, are driving innovation in this area to minimize waste and reduce environmental impact during the vehicle’s lifecycle. Are we going to see the first net zero car soon?”
Sortera Technologies, by leveraging the latest advancements in artificial intelligence and its proven technology platform, is bringing lightning-speed changes to a centuries old industry, and is creating a sustainable, efficient, and automated recycling process. The Company’s ability to accurately sort mixed metals into single alloy streams, enables greater use of recycled material in manufacturing, lowers the costs of metals production, increases the availability of metals for domestic manufacturers, and reduces pollution and greenhouse gas emissions associated with virgin metals production. The high-quality upcycled materials from Sortera’s operation will be put back into the U.S. market, into industries such as automotive cast and flat-rolled products and building, construction, and aerospace extrusions, representing a significant contribution to the circular economy movement and to the security of domestic resources.
The Company recently announced the close of a $30.5 million Series C funding round led by RA Capital Management-Planetary Health with participation from certain funds and accounts advised by T. Rowe Price Associates, Inc., the Mineral Resources Group, which is a part of Mitsubishi Corporation’s Business Incubation Unit, and Macquarie GIG Energy Transition Solutions (“MGETS”). Additional existing investors include Assembly Ventures, Breakthrough Energy Ventures, and Chrysalix. Funding validates the Company’s innovation and technology platform as it establishes itself as a key player in the US domestic upcycle sector.
To watch Mr. Siemer’s keynote (12:15pm GMT+2), Mr. Pope’s panel discussion (12:30pm GMT+2), or Assembly Ventures entire Assembly Summit sessions at IAA 2023, please click here.