TLDR:
- Bosch Ventures has made strategic investments in battery recycling companies Cylib and Li Industries to enhance lithium-ion battery recycling.
- Cylib and Li Industries are pioneering companies in the battery recycling sector, with innovative technologies for recovering essential raw materials.
Bosch Ventures, the corporate venture capital arm of the Bosch Group, has announced significant investments in the battery recycling sector, focusing on enhancing the recycling of lithium-ion batteries to conserve natural resources and promote sustainable technology development. Within a week, Bosch Ventures made investments in two leading companies, Cylib and Li Industries, which are at the forefront of battery recycling innovation.
The investment in Cylib, a European leader in battery recycling founded in 2022, signifies a landmark moment in Europe as major investors from various sectors unite to support a sustainable battery infrastructure. Cylib’s proprietary technology enables efficient and climate-friendly recovery of raw materials from lithium-ion batteries, meeting the rising demand for battery recycling driven by the growth of battery-powered electric vehicles and other devices.
Shortly after investing in Cylib, Bosch Ventures also co-led a $36 million Series B funding round for Li Industries, a US-based direct recycler focusing on economically and sustainably recycling low/no cobalt batteries using their unique Direct E2E™ technology. These strategic investments highlight Bosch Ventures’ commitment to supporting cutting-edge technologies and solutions that address environmental challenges while fostering growth in the battery recycling industry.
Dr. Ingo Ramesohl, Managing Director of Bosch Ventures, emphasized the importance of battery recycling in today’s electrified world and expressed pride in supporting companies like Cylib and Li Industries that are driving innovation in the sector. By investing in these pioneering companies, Bosch Ventures is contributing to building a sustainable future and addressing crucial environmental concerns related to battery recycling.
