Cylib, a battery recycling start-up based in Aachen, has secured €55 million in Series A funding.

The funding round was co-led by World Fund and Porsche Ventures, with additional investments from Bosch Ventures.

Cylib's innovative mechanical-chemical process achieves a recycling efficiency of over 90% for lithium-ion batteries.

The company's water-based method extracts valuable raw materials from shredded old batteries, distinguishing it from competitors.

Funds will be used to scale up operations at a brownfield industrial facility in Germany, aiding the industrialization of their technology.

This rapid commercialization highlights Cylib's potential to revolutionize the battery recycling industry and enhance the sustainability of the electric vehicle supply chain.