Cylib

Battery Recycling, CleanTech

Author

Peniel Keme Kitoko
June 05, 2024 • Estimated Reading Time: 3 minutes

🌎🌍🌏| Europe Wednesday

Next Generation Battery Recycling.

  Problem

  • Market Potential: Europe’s battery waste problem is escalating with the rise of electric vehicles (EVs).

  • Challenge: Automotive industry faces challenges meeting sustainability targets without effective battery recycling.

  • Lacking Tool: Existing battery recycling methods are energy-intensive and inefficient.

    • Extra Barriers: The high costs and environmental impact of current recycling processes.

This issue's Startup equips automotive manufacturers with efficient, eco-friendly battery recycling solutions.

  Solution

Cylib

Cylib offers an innovative and sustainable technology for Lithium-ion Battery recycling.

How: They achieve this by using a proprietary process that recovers all materials in a battery with 30% less energy than competitors.

  • Platform: Cylib’s platform offers an end-to-end recycling solution, from discharging to recovering raw materials.

  • Target: The target audience includes automotive OEMs, Tier 1 suppliers, and lithium refineries.

  • Resolving: Cylib adresses inefficient & environmentally harmful battery recycling, ensuring compliance with EU regulations.

  Company Info

  • Industry: Battery Recycling, CleanTech

  • Business Model: B2B services

  • HQ: Aachen, Germany

  • Founding Year: 2022

  • Employee Count: 60+

  • Investors: World Fund, Porsche Ventures, Bosch Ventures, DeepTech & Climate Fonds, NRW.Venture

  • Funding Amount: €55 million

  Traction

  •   Raised €55 million in Series A funding, largest in Europe

  •   Pilot facility capable of recycling 1 EV battery pack per day

  •   Partnerships with major automotive OEMs and battery manufacturers

  Competition Advantages

  • Utilizes 30% less energy compared to competitors

  • Over 90% recycling efficiency, surpassing industry benchmarks

  • Locally delivered end-to-end recycling solution

  Founders

  • Lilian Schwich, CEO (Former head of battery recycling group at RWTH Aachen University)

  • Gideon Schwich, COO (Business engineering and production technology background, Ph.D. from RWTH Aachen University)

  • Paul Sabarny, CTO (Expertise in mining and metallurgy, managed IME battery laboratory at RWTH Aachen University)

  Job Opportunities & Contact

  • Hiring Status: Active

  • Contact Information:

  Why Invest by George

❝

Ooh-ooh-ahh-ahh! Cylib make old batteries new, use less energy, helps the jungle!

🐵

- George Capuchinski -

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Cheers,

Peniel Keme Kitoko

Catalyzer X

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