cylib completes €3.6M seed round to revolutionize battery recycling. Unique technology enables eco-friendly battery recycling.
RWTH Aachen University spin-off cylib has received a €3.6 million capital injection to make lithium-ion battery recycling more efficient and environmentally friendly. With its unique technology, cylib helps close the growing recycling gap in the European battery market.
CEO Lilian Schwich and CTO Paul Sabarny and their team have developed a new and unique eco-efficient recycling method. Both scientists played a key role in building the Battery Recycling Group at his IME at RWTH Aachen University, a driving force in battery recycling research. They are now determined to industrialize a process developed by the group over the years to solve one of the main problems of e-mobility.
Lillian Schwitchthe CEO said:
Battery production today is not green.
“Our recycling process enables the future production of sustainable battery cells.”
“For the enormous amount of batteries required for future electromobility, we need a circular economy. Our holistic approach to recycling helps protect people, the environment and the climate as much as possible. ”
Achieve green recycling outcomes that exceed EU regulatory requirements
Traditional recycling processes fail to recover vital resources, have a large ecological footprint, emit large amounts of CO2, and require extensive chemical use. This makes most of these processes inadequate to meet the regulatory requirements that the EU hopes to achieve in the future.
In contrast, cylib’s recycling process can extract all materials from lithium-ion batteries in an unprecedentedly efficient and environmentally friendly manner. By reusing emitted CO2 and eliminating the need for chemicals to recover lithium and graphite, cylib’s approach is the most efficient and sustainable on the planet.
The annual volume of end-of-life batteries in the EU is expected to grow 13-fold to 1.4 million tonnes by 2040. Even considering the most positive recycling capacity projections, it is clear that we are facing a huge recycling gap. .
Cylib’s solution plays an important role in bridging this gap. With this kind of capital, the company intends to set up a pilot plant in Aachen to industrialize the new recycling process in cooperation with partners in various fields.
Dr. Gideon Schwichco-founder and COO said:
We are currently discussing strategic partnerships with various companies.
“These include automotive OEMs, cell producers and raw material suppliers.”
Battery-savvy deep tech investor plans pilot factory in Aachen
Dr. Herbert Mangesius Vsquared Ventures comments:
I was impressed by the founder’s years of experience in battery recycling research and work in the industry.
“The team led by Lillian Schwich has worked and consulted for major battery companies over the past several years, so they know the challenges and potential solutions in this industry. It’s a combination we’ve never seen before, and we believe it will be very important as we build a leading company in battery recycling.”
The Munich-based deep tech fund has made significant investments in the battery sector for companies such as CUSTOMCELLS and Group14 Technologies.
Andrei Henkleran experienced business angel adds:
Europe is an ideal starting point for building a category leader in the lithium-ion battery recycling industry.
“Cylib’s superior technology, relationships with established battery players, and the fact that they already meet all regulatory requirements will set them up for long-term success.”
Other investors include Lawrence Leuschner of Blue Impact Ventures, Kai Hansen, founder of Lieferando, Torge Thönnessen and Leopold König, founders of CUSTOMCELLS, Maximilian Odendahl, founder of Silexica, and Karim Jalbout, CPO of Lilium.
About Cylib
cylib GmbH is a comprehensive battery recycling start-up. Cylib’s proprietary end-to-end process features an efficient, resource-friendly and climate-friendly recovery of all the valuable elements within an electric vehicle battery, from the pack to the cell level.
Developed over many years of research at RWTH Aachen University, the Cylib process is accompanied by a reduction in CO2 emissions. The company was founded in Aachen in 2022 by Lilian Schwich (CEO), Paul Sabarny (CTO) and Dr. Ing. Gideon Schwich (COO). For more information, please visit www.cylib.de.
About Busquared
Vsquared helps entrepreneurs design seemingly impossible solutions to the world’s toughest problems. With our deep tech fund, we partner with global leaders like Group14 Technologies, Isar Aerospace, Zama AI, IQM Quantum Computers, or CUSTOMCELLS.
We are confident that the next generation of champions will emerge from Europe’s unique market and technological potential. For more information, please visit www.vsquared.vc.
About Speedinvest
Speedinvest is a leading early stage venture capital firm with over €600 million in assets under management and 40 investors based in Berlin, London, Munich, Paris and Vienna. Our dedicated sector-focused team was the first to fund Europe’s most innovative technology start-ups, and our in-house operational experts focus on growth, HR and US market expansion. We provide ongoing support to founders on:
Wefox, Bitpanda, TIER Mobility, GoStudent, Wayflyer, Open, CoachHub, Schüttflix, TourRadar, Adverity and Twaice are part of a portfolio of over 250 companies. For more information, please visit www.speedinvest.com.
highlight:
- Green battery recycling with original technology
- Scale-up of IP protection process developed at RWTH Aachen University
- Preparing for construction of a pilot plant in Aachen
- Vsquared Ventures and Speedinvest as investors
Cylib completes €3.6 million seed round to revolutionize battery recycling, Aachen, Germany, October 13, 2022
