According to CNBC, on September 9, start-up cylib began construction of a large battery recycling plant in Dormagen, North Rhine-Westphalia, Germany.
Image source: Cylib, founded in 2022, focuses on using water-based lithium and graphite recycling technology to reuse materials in batteries that are coming to the end of their life.
Earlier this year, the company raised € 55 million in financing from investors such as climate-focused venture capital firms World Fund, Porsche Ventures, Bosch and DeepTech & Climate Fonds.
, According to reports, the investment scale of cylib’s new plant will exceed 180 million euros (about 200 million US dollars) and is expected to cover an area of 236,000 square feet.
It will mainly serve automotive, battery manufacturing and chemical customers.
It is planned to start operations in 2026.
Cylib said that the plant plans to recycle about 30,000 tons of used batteries every year, which will surpass the factory of battery recycling company Hydrovolt and become the largest end-to-end lithium battery recycling plant in Europe.
Hydrovolt is a joint venture between Swedish electric vehicle battery manufacturer Northvolt and Norway aluminum and renewable energy company Hydro.
It currently recycles 12,000 tons of used batteries every year.
CNBC, citing a person familiar with the matter, reported that Porsche is expected to use products produced at cylib’s new factory.
However, since the information has not yet been made public, the person familiar with the matter also pointed out that these plans are still in their early stages and have not yet been formally determined.
When asked about Porsche’s involvement, a Cylib spokesperson said the investment from partners such as Porsche was “strategic” and that the company was working closely with investors on process industrialization and business partnerships.
, In addition, Cylib plans to build more factories in Germany and other parts of Europe in the coming years.
Lilian Schwich, CEO of cylib, said that the new factory is the key to cylib’s mass production.
“Cylib’s reaching industrial-scale production will promote the establishment of a strong battery infrastructure in Europe.
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