Bosch Ventures, the corporate venture capital arm of the Bosch Group, has announced two major investments in battery recycling within a single week. This move underscores the company's dedication to sustainable technology. "In an electrified world, battery recycling makes a significant contribution to conserving natural resources," says Dr. Ingo Ramesohl, Managing Director of Bosch Ventures. "With our investments, we can help Cylib and Li Industries to scale their production."
theevreport.com/, May. 15, 2024 –
Key Highlights:
Cylib's Major Funding Round
Founded in 2022, Cylib has quickly become a leader in end-to-end lithium-ion battery recycling technology. With a successful pilot line and collaborations with major automotive OEMs and battery manufacturers, Cylib's efficient and eco-friendly process recovers valuable materials like lithium, graphite, nickel, cobalt, and manganese. CEO Lilian Schwich highlights the impact of their recent funding: "The funding round we announced today will empower us to embark on our next phase of expansion and deepen existing collaborations, as we grow our next-generation battery recycling at an industrial scale." Bosch Ventures' participation in this €55 million round positions Cylib to become Europe's premier battery recycler.