With the rapid growth of electric vehicles, there is an urgent need for sustainable battery recycling solutions. We identified Cylib as a game-changer in this space, offering innovative and eco-friendly technology that transforms the way batteries are recycled.
Born from extensive research at RWTH Aachen University, Cylib's cutting-edge process features a proprietary ecological technology that reduces water consumption and utilizes CO2, minimizing the environmental impact of battery recycling. Their patented pre-treatment and water-based lithium recovery system demands fewer additives while achieving recycling efficiencies that exceed future regulatory requirements.
We are thrilled to collaborate with the exceptional founding team of Cylib, spearheaded by Lilian Schwich, Gideon Schwich, and Paul Sabarny. Their unwavering dedication to sustainability and innovation aligns seamlessly with our core values at 10x Founders.
By investing in Cylib's €8 million funding round alongside esteemed co-investors World Fund, Vsquared Ventures, and Speedinvest, we have facilitated the establishment of a state-of-the-art recycling facility that caters to customers across Europe. This investment addresses the electric vehicle industry's pressing need to responsibly manage end-of-life batteries and solidifies Cylib's position as a leader in sustainable recycling solutions.
With a remarkable 90% efficiency rate in recovering resources and producing new raw materials, Cylib paves the way for truly green and circular mobility. The lithium-ion battery recycling market is forecasted to grow to €11 billion by 2040, facing an anticipated 1,250-kiloton gap between recycling capacity and demand. By investing in Cylib, we at 10x Founders are proud to be part of a greener, more sustainable future in mobility.