Connect with us

Impact Investing

Cylib, a German Startup Which Recycles Batteries Raises 55 Million

German startup Cylib, founded in 2022, focuses on recycling all components of lithium-ion batteries. After a decade of R&D, Cylib raised €55 million in a Series A round led by VC World Fund and Porsche Ventures, the largest for battery recycling in Europe. The funds will scale their industrial operations and expand their team.




Recycle every component and material inside a lithium-ion battery. After a decade of research and development, the German startup Cylib, founded in Aachen in 2022, has started to quickly raise capital to finance its climate tech project, which has already been successfully tested in several pilot projects.

The seed round in September 2023 exceeded 11 million euros, but the one recently announced is the largest operation ever recorded in Europe for a strategic sector such as battery recycling: 55 million euros .

Who invests in Cylib

The €55 million Series A round was led by VC World Fund and Porsche Ventures. Investors such as Bosch Ventures, DeepTech & Climate Fonds, NRW.Venture were then added, while entities such as Vsquared Ventures, Speedinvest and 10x Founders followed. As highlighted, this is the first time that two giants such as Porsche and Bosch are present in the same capital injection.

What Cylib does

Despite being founded in 2022, Cylib has a decade of research behind it. The founding team includes CEO Lilian Schwich, one of the most well-known European researchers in the field of battery recycling, CTO Paul Sabarny and COO Gideon Schwich. The process put into practice with efficient machinery is the result of several years of work in the laboratories of RWTH Aachen University.

With the 55 million euros from the Serie A round, the company will bring its production plant to an industrial level, also focusing on expanding the team . Thanks to its technologies it is able to avoid wasting rare earths and precious components of a whole series of batteries, from those of cars to those of scooters.

In a global context where sales of electric cars are increasing and car manufacturers have made the transition their own , gradually abandoning fossil fuels , it is essential that we do not move from one dependence to another. Plants in Europe capable of not wasting these resources will contribute to a shorter supply chain , without damaging the environment, given the impact that the extraction of rare earths has.

With the 55 million euros from the Serie A round, Cylib will bring its production plant to an industrial level. Source

Why do we need to recycle electric batteries?

As Cylib itself explained, in 2023 global sales of electric cars rose to 14 million and estimates speak of an increase to 17 million in 2024. According to Fraunhofer ISI, control over the entire supply chain still sees a weak point in recycling of batteries, mostly produced in China.

By 2040, 2.1 million tonnes of lithium ion batteries will be recycled in Europe. If we were to give up promoting similar technologies, we would inevitably be tied to non-European industries, with all that this entails regarding prices and limited bargaining capabilities.


(Featured image by wir_sind_klein via Pixabay)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in StartupItalia. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us

Jeremy Whannell loves writing about the great outdoors, business ventures and tech giants, cryptocurrencies, marijuana stocks, and other investment topics. His proficiency in internet culture rivals his obsession with artificial intelligence and gaming developments. A biker and nature enthusiast, he prefers working and writing out in the wild over an afternoon in a coffee shop.