TLDR:
- Bosch Ventures makes two significant investments in battery-recycling technology firms within a week
- Investments in Cylib and Li Industries aim to scale production and contribute to sustainable technology development
Bosch Ventures, the corporate venture capital unit of the Bosch Group, announced investments in two battery recycling companies, Cylib and Li Industries. Cylib, a German company founded in 2022, raised a €55 million round to support its proprietary technology for lithium-ion battery recycling. This technology allows for the efficient recovery of raw materials from battery packs, black mass, or production scraps. Li Industries in the US received a $36 million investment from Bosch Ventures to pursue innovative solutions for recycling low/no cobalt batteries at scale. Both investments highlight Bosch Ventures’ commitment to cleantech and sustainable technology development.
The demand for battery recycling is increasing with the rise of electric vehicles and other battery-driven technologies. Cylib’s market-leading process enables companies in the battery value chain to recycle elements locally and meet stringent battery recycling regulations. These investments signal a move towards building a resilient and sustainable battery infrastructure, with major investors supporting companies dedicated to solving environmental challenges.
