TLDR:
Key Points:
- Bosch Ventures announces two significant investments in battery recycling sector
- Investments in European cylib and US Li Industries highlight commitment to sustainability
In a significant step towards sustainable technology development, Bosch Ventures, the corporate venture capital unit of the Bosch Group, recently announced two major investments in the battery recycling sector. The investments in European company cylib and US-based Li Industries showcase Bosch Ventures’ commitment to sustainability and transformative battery recycling technologies.
cylib, a company based in Aachen, raised a record-breaking €55 million round less than 2 years after its inception. The company offers proprietary technology for end-to-end recycling of lithium-ion batteries, with a focus on efficient and climate-friendly recovery of raw materials like lithium, graphite, and nickel. The funding will help cylib expand its operations and deepen collaborations with automotive OEMs and battery manufacturers.
On the other side of the Atlantic, Li Industries secured a $36 million round led by Bosch Ventures. The US company is at the forefront of recycling low/no cobalt batteries using their unique Direct E2ETM technology. The investment from Bosch Ventures, along with other major investors, will support Li Industries in scaling their innovative solutions for the Li-ion battery circular supply chain.
With the growing demand for battery recycling due to the rise of electric vehicles and other battery-powered devices, Bosch Ventures’ investments in cutting-edge battery recycling startups underscore the urgency of addressing environmental challenges. By supporting companies like cylib and Li Industries, Bosch Ventures is paving the way for a more resilient and sustainable battery infrastructure in both Europe and the US.
