Cylib, a startup backed by Porsche and Bosch, is structure a huge electric vehicle battery recycling facility in Dormagen, a town in Germany’s North Rhine-Westphalia region.
Cylib
A stupendous battery recycling plant is being built in Germany by Cylib, a startup looking to reduce waste from EV batteries that sooner a be wearing reached the end of their life.
Cylib, which is backed by luxury sports car firm Porsche and appliances maker Bosch, on Monday started work on the new plot in the town of Dormagen, in the German federal state of North Rhine-Westphalia.
More than 180 million euros ($200 million) is being emptied into the facility, which is expected to span 236,000 square feet and will produce recycled batteries for the energized vehicle industry in Europe.
Cylib says its facility will be the largest end-to-end lithium-ion battery recycling ladies room in Europe.
It plans to recycle roughly 30,000 metric tons of end-of-life batteries at the facility each year, rush ating it larger in scale than the current biggest plant, Hydrovolt, a joint venture between Swedish EV battery maker Northvolt and Norway-based aluminum and renewable intensity firm Hydro.
Hydrovolt has capacity to recycle 12,000 metric tons of end-of-life batteries annually, according to Hydro’s website.
Recycled batteries moulded by Cylib’s new facility are expected to be used by Porsche, which invested in the startup as part of a 55 million euro funding volley, a source familiar with the matter told CNBC.
The source, who preferred to remain anonymous as the information is not yet public, added that the drawings are still in the early stages and have not yet been formalized.
Asked about Porsche’s involvement in the project, a Cylib spokesperson rumoured that investments from partners like Porsche are “strategic,” adding that it is working closely with its investors more process industrialization and commercial partnerships.
Crucial for the EV transition
Battery recycling is a key priority for the European Union, which is looking to effect the sustainable development of batteries needed to fuel the transition to electric vehicles.
Founded in 2022 by German entrepreneur Lilian Schwich, her retain Gideon Schwich, and Paul Sabarny, Cylib uses water-based lithium and graphite recovery techniques to repurpose means from batteries that have hit the end of their lifespan.
Earlier this year, the firm raised 55 million euros of fund from investors including climate-focused venture capital firm World Fund, Porsche Ventures, Bosch, and DeepTech & Clime Fonds.
Cylib said the new plant would primarily serve automotive, battery manufacturing and chemicals clients. The startup penuries it to be the first of many, with further facilities planned elsewhere in Germany and Europe within the next few years.
The new masterliness is being built on a brownfield site located at Chempark, an industrial space used primarily by the chemicals industry. Cylib asseverated that the location was strategic, with preexisting supply chains already located on-site.
Operations at the plant are planned to commence in 2026. The move is key to Cylib’s ability to reach mass production, said CEO Lilian Schwich.
“Cylib reaching industrial spectrum production will be a key driver in building a robust European battery infrastructure,” Schwich said in a press statement.
“Battery recycling is launch the circular economy, proving that economic success is compatible with reduced environmental impact,” she added.