Energy
Monday, September 9th, 2024 7:23 pm EDT
Key Points
- Cylib’s New Facility: Cylib, a startup focused on recycling EV batteries, is constructing a massive 236,000 square foot recycling plant in Dormagen, Germany. With an investment of over 180 million euros ($200 million), this facility is set to become the largest end-to-end lithium-ion battery recycling plant in Europe, aiming to process 30,000 metric tons of end-of-life batteries annually.
- Strategic Partnerships and Investments: The project is supported by major investors including Porsche and Bosch. Porsche, which has invested 55 million euros in Cylib, is expected to use the recycled batteries produced by the new facility. The plant is planned to serve automotive, battery manufacturing, and chemicals sectors, and is strategically located at Chempark, a site with established supply chains.
- Timeline and Impact: Operations at the new plant are slated to begin in 2026. The facility is crucial for expanding Cylib’s capacity to reach mass production, which will significantly contribute to building a robust European battery infrastructure and advance the circular economy, aligning with the European Union’s goals for sustainable battery development.
Cylib, a startup focused on battery recycling, is advancing its mission to minimize waste from electric vehicle (EV) batteries with the construction of a massive new facility in Dormagen, Germany. Backed by prominent investors including Porsche and Bosch, Cylib is investing over 180 million euros (about $200 million) into this state-of-the-art plant, which is set to be the largest end-to-end lithium-ion battery recycling facility in Europe. Spanning 236,000 square feet, the plant will have the capacity to recycle approximately 30,000 metric tons of end-of-life batteries annually, significantly surpassing the capacity of the current largest plant, Hydrovolt, which recycles 12,000 metric tons per year.
The new facility is anticipated to produce recycled batteries that will be used by Porsche, reflecting the strategic importance of this investment. While details of Porsche’s exact role in the project are still being formalized, it is known that the luxury carmaker has invested in Cylib as part of a broader 55 million euro funding round. This investment is part of Porsche’s strategy to support the sustainable development of battery recycling processes and integrate recycled materials into their own production lines.
Founded in 2022 by Lilian Schwich, Gideon Schwich, and Paul Sabarny, Cylib specializes in water-based recovery techniques for lithium and graphite, which are critical for repurposing materials from decommissioned batteries. The new plant will cater primarily to automotive, battery manufacturing, and chemical industries, with plans for additional facilities across Germany and Europe in the coming years. Located on a brownfield site at Chempark, an established industrial area with existing supply chains, the facility is strategically positioned to leverage these resources. Operations are slated to begin in 2026, marking a significant milestone in Cylib’s goal to scale up production and contribute to a robust European battery infrastructure.
Cylib’s expansion into large-scale recycling is seen as a vital step toward establishing a circular economy within the battery sector, demonstrating that economic growth can align with reduced environmental impact. CEO Lilian Schwich emphasizes that reaching industrial-scale production will be crucial for building a sustainable battery infrastructure in Europe and underscores the importance of recycling in the transition to electric vehicles.
For the full original article on CNBC, please click here: https://www.cnbc.com/2024/09/09/porsche-backed-cylib-breaks-ground-on-huge-ev-battery-recycling-plant.html
