TLDR:
- Bosch Ventures, the venture capital unit of the Bosch Group, invests in two battery recycling companies, Cylib and Li Industries, to contribute to sustainable technology development.
- Cylib closed a €55 million funding round to scale its proprietary technology for lithium-ion battery recycling, while Li Industries received a $36 million investment to recycle low/no cobalt batteries using innovative technology.
Bosch Ventures, the corporate venture capital unit of the Bosch Group, has made strategic investments in the battery recycling sector with significant funding rounds for two companies, Cylib and Li Industries. The investments signal Bosch Ventures’ strong commitment to sustainable technology development, especially in the context of an increasingly electrified world.
Cylib, founded in 2022, secured a €55 million funding round to support its market-leading technology for end-to-end recycling of lithium-ion batteries. The company’s process focuses on efficient recovery of raw materials like lithium, graphite, nickel, cobalt, and manganese, contributing to a resource and climate-friendly approach to battery recycling. The funding round will enable Cylib to expand its operations and deepen collaborations within the battery recycling industry.
On the other hand, Li Industries, a US-based company, received a $36 million investment led by Bosch Ventures to tackle the challenges in the circular supply chain of lithium-ion batteries. Li Industries specializes in recycling low/no cobalt batteries, such as Lithium Iron Phosphate (LFPs), at scale using their unique Direct E2ETM recycling technology. The funding will help Li Industries further develop its innovative solutions in the battery recycling sector.
Both investments demonstrate Bosch Ventures’ forward-looking approach to supporting cutting-edge technologies that address environmental challenges and contribute to the sustainable growth of the battery industry. By investing in companies like Cylib and Li Industries, Bosch Ventures aims to foster innovation and drive positive change in the battery recycling landscape.
