A more environmentally friendly process for recycling EV batteries
Mobility & Transport
A German startup has developed a way to significantly reduce the carbon footprint of the EV supply chain
Spotted: By weaning ourselves off fossil-fuel-powered cars, we are beginning to depend on a different scarce resource. If, in place of fossil fuel extraction, we are constantly digging for the critical minerals needed for electric vehicles (EVs) our future will not be sustainable. Instead, we need to ensure that resources are reused. Enter Cylib, a German startup that maximises recycling efficiency in a way that keeps up with the escalating demand for e-cars.
With its revolutionary water-based methods, Cylib recovers raw materials from the recycling process, generating a recycling efficiency of 90 per cent irrespective of whether it is an end-of-life battery. This makes electric mobility more environmentally friendly by dramatically shrinking the carbon footprint of the whole battery value chain and reducing the need to mine new raw materials.
“[I]f we don’t find a solution to sustainable battery recycling, we could squander the climate gains that EVs offer. Cylib’s technology is the missing piece of the puzzle and their technology will deliver real climate gains, by enabling the sustainable recycling of batteries and by cutting down on the damaging mining of primary materials,” explains Craig Douglas, a Partner at World Fund.
Recently, the startup announced it had raised €8 million in a seed extension round steered by World Fund. Cylib’s previous investors, VSquared Ventures and Speedinvest, joined too, bringing the total funding to €11.6 million. According to the company, these funds will be used to create a recycling facility.
Springwise has previously spotted other innovations that mitigate the environmental damage caused by lithium-ion batteries, including a company that recycles used graphite anodes, and another that recycles multiple critical materials from them.
Written By: Georgia King
1st March 2023