Aachen based cylib raised €55 million round, the largest investment round ever raised by a European battery recycling company.Dr. Ingo Ramesohl, Managing Director of Bosch Ventures: “We are investing in Sustainability and pave the way in transformative battery recycling technologies.”
Founded in 2022, the company offers market-leading proprietary technology for end-to-end recycling of lithium-ion batteries and has already delivered a successful pilot line and completed projects with major automotive OEMs as well as battery manufacturers. cylib’s process is characterized by an efficient, resource- and climate-friendly recovery of raw materials, including lithium, graphite, nickel, cobalt and manganese from battery packs, black mass or production scraps.
The landmark funding round marks the first time in Europe that major investors from climate and deep tech, corporate automotive and industry backgrounds as well as public investment funds have built a consortium to support a battery recycling company. This further signals the breadth of significant stakeholders now dedicated to building a resilient and sustainable battery infrastructure also in Europe.