Cylib is a technology company specializing in next-generation, end-to-end recycling of lithium-ion batteries. It develops proprietary, sustainable recycling technology that recovers all critical raw materials—such as lithium, graphite, nickel, cobalt, and manganese—from used electric vehicle (EV) batteries, production scraps, and micromobility batteries. Cylib serves automotive OEMs, battery manufacturers, and the broader battery supply chain, addressing the urgent problem of sustainable raw material supply and circular economy needs in the green energy transition. The company has demonstrated rapid growth, moving from a successful pilot line in 2023 to industrial-scale production planned for 2026, backed by over €90 million in funding and a team of 100+ experts[1][2][4][5].
Founded in 2022 in Aachen, Germany, Cylib emerged from nearly a decade of research at RWTH Aachen University by its founders Dr. Lilian Schwich (CEO), Paul Sabarny (CTO), and Dr. Gideon Schwich (COO). The founders combined deep technical expertise in resource-efficient battery recycling with a vision to revolutionize the industry by enabling a truly circular economy for lithium-ion batteries. Early traction included a pilot recycling line capable of processing one EV battery pack per day and partnerships with major automotive OEMs and suppliers. The company quickly attracted significant investment, including a €55 million Series A co-led by World Fund and Porsche Ventures, enabling it to scale industrially and build Europe’s first-of-a-kind industrial recycling facility[1][2][5].
Cylib is positioned at the intersection of the green energy transition, circular economy, and critical raw material supply chain resilience. As demand for EVs and battery storage soars, securing sustainable, local sources of battery materials is critical to reducing Europe’s dependence on imports and minimizing environmental impact. Cylib’s technology addresses key market forces: rising raw material scarcity, regulatory pressure for sustainability, and the need for closed-loop recycling to meet climate goals. Its rapid industrial scaling and comprehensive recycling capabilities make it a key player in shaping Europe’s battery ecosystem and enabling a resilient, climate-friendly supply chain[1][2][4][5].
Cylib is poised to become Europe’s leading battery recycler, with its industrial-scale facility expected to launch in 2026. Future growth will likely involve expanding capacity, entering new European markets, and continuously improving recycling efficiency and sustainability. Trends such as stricter environmental regulations, increasing EV adoption, and raw material supply constraints will further drive demand for Cylib’s solutions. As the company scales, it could influence the broader battery and automotive industries by setting new standards for circularity and sustainability, helping to power the green energy transition with a truly closed-loop supply chain[1][5].
Cylib has raised $72.0M in total across 3 funding rounds.
Cylib's investors include Earlybird Venture Capital, Vsquared Ventures, World Fund, Andrej Henkler.
Cylib has raised $72.0M across 3 funding rounds. Most recently, it raised $60.0M Series A in May 2024.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| May 1, 2024 | $60.0M Series A | Earlybird Venture Capital, Vsquared Ventures, World Fund, Andrej Henkler | |
| Feb 1, 2023 | $9.0M Seed | Vsquared Ventures, World Fund | |
| Oct 1, 2022 | $3.0M Seed | Vsquared Ventures, World Fund |
