Bosch Powers Battery Recycling Innovation

Find the Latest SoC Solutions
for... Automotive... IoT... Security... Audio... Video

Bosch Ventures, the corporate venture capital arm of the Bosch Group, has announced two major investments in battery recycling within a single week. This move underscores the company's dedication to sustainable technology. "In an electrified world, battery recycling makes a significant contribution to conserving natural resources," says Dr. Ingo Ramesohl, Managing Director of Bosch Ventures. "With our investments, we can help Cylib and Li Industries to scale their production."

theevreport.com/, May. 15, 2024 – 

Key Highlights:

• Bosch Ventures invests in Cylib and Li Industries.
• Cylib raised €55 million for its advanced battery recycling technology.
• Bosch Ventures co-led a $36 million round for Li Industries in the US.
• Investments reflect a commitment to sustainable tech and resource conservation.

Cylib's Major Funding Round

Founded in 2022, Cylib has quickly become a leader in end-to-end lithium-ion battery recycling technology. With a successful pilot line and collaborations with major automotive OEMs and battery manufacturers, Cylib's efficient and eco-friendly process recovers valuable materials like lithium, graphite, nickel, cobalt, and manganese. CEO Lilian Schwich highlights the impact of their recent funding: "The funding round we announced today will empower us to embark on our next phase of expansion and deepen existing collaborations, as we grow our next-generation battery recycling at an industrial scale." Bosch Ventures' participation in this €55 million round positions Cylib to become Europe's premier battery recycler.

click here to read more...

 Back