German company called Cylib received $3.6 million in funding led by Speedinvest and Vsquared. This is one of the many companies that Cylib employs holistic battery recycling methods.
Additional investors include Max Odendahl and Karim Jalbout of CPO at Lilium and Silexica founder Maximilian Odendahl. Other investors include Lawrence Leuschner with Blue Impact Ventures, Lieferando founder Kai Hansen and CUSTOMCELLS founders Torge Thönnessen and Leopold König.
Conventional recycling methods release significant amounts of CO2 while providing fewer key resources than traditional recycling methods. They also have a heavy environmental impact and high failure rate.
The German business created a resourceful and climate-friendly recycling process for lithium-ion battery.
Eco-Efficient Recycling Method
Lilian Schwich, Paul Sabarny, Dr. Ing. Gideon Schwich and the RWTH Aachen University spin-off they founded have created a new eco-friendly recycling method.
Through a cylib recycling process, all materials are recovered from a lithium-ion battery with remarkable efficiency. This is done in an environmentally friendly way.
Cylib’s method of saving lithium and graphite requires no chemicals; it is the most sustainable and efficient way to recycle any material on Earth.
Lilian Schwich, CEO of the company producing batteries, states that current battery production is unsustainable. Because of a recycling process she implemented, Schwich claims future production of sustainable battery cells is possible. Advancing electromobility will require a lot of battery storage. Creating a circular economy helps minimize the damage caused to the environment, climate, and people by using recycled materials.
The proprietary end-to-end process efficiently recovers all useful elements from the battery pack to cell level. Doing so reduces carbon emissions by the company’s cell process.
Co-founder and COO Dr. Gideon Schweich reveals that their company discusses partnerships with various companies— including material suppliers, cell producers and automotive OEMs — in ongoing talks.
Lilian Schwich and her team have vast experience consulting and working in the battery-recycling industry. They’ve been gathering that experience since long before starting their company. Because of this, they understand the current problems the industry faces and know their potential solutions. Vsquared Ventures is a deep tech fund based in Munich. They invested heavily in companies related to battery recycling, such as Group14 Technologies and CUSTOMCELLS. One of the companies they invested in, Dr. Herbert Mangesius from Vsquared Ventures believes, will be extremely crucial for the creation of the leading company in this field.
Europe is an ideal starting point for creating category leaders in the lithium-ion battery recycling industry. Because of their superior technology, Cylib has access to relationships with established battery companies and meets all regulatory requirements. This leads to long-term success. Additionally, Andrej Henkler stated that Cylib is already a category leader due to their technology and relationships.