May 25, 2024

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Bosch joins startups in battery recycling

Bosch joins startups in battery recycling

Through investments in Cylib (pictured) and Li Industries, Bosch is strengthening the field of battery recycling. (Photo: Bosch/Vera Loitzsch)

“In our electrified world, by recycling batteries, we make a significant contribution to the conservation of natural resources.”explains Ingo Ramssohl, Managing Director of Bosch Ventures. “With our investments we can help Cylib and Li Industries To expand its production range.

The German company Cylib, founded in 2022, will receive financing worth 55 million euros from Bosch. Cylib offers technologies for comprehensive recycling of lithium-ion batteries. According to Bosch, it can already boast a successful pilot pipeline and completed projects with major automotive manufacturers and battery manufacturers. The company extracts raw materials such as lithium, graphite, nickel, cobalt and manganese from battery packs, black mass or production waste.

The investments in Cylib come a few days after Bosch invested in US company Li Industries. Bosch contributed €33 million to the corresponding financing round. “Li Industries is the first and only company in the United States to economically and sustainably recycle batteries with low or no cobalt content, such as lithium iron phosphate (LFP), at scale using its unique Direct E2ETM recycling technology.”Ingo Ramssohl explains the decision.

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