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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.”
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.
Market Demand and Regulatory Push
The battery recycling market is expanding rapidly, driven by the rise of electric vehicles, eBikes, powertools, and household appliances. The EU has designated EV battery materials as strategic critical raw materials, enforcing stringent recycling regulations. Cylib’s technology enables local recycling, helping companies exceed these regulatory requirements. Dr. Ramesohl of Bosch Ventures emphasizes their commitment to pioneering solutions for environmental challenges: “Our investments in cutting-edge battery recycling startups underscore our commitment to pioneering technologies that not only promise substantial market growth but also offer solutions to one of the most pressing environmental challenges of our time.”
Li Industries’ Innovative Approach
Last week, Bosch Ventures announced a $36 million investment in Li Industries, a US-based company revolutionizing the Li-ion battery supply chain with scalable recycling solutions. “Li Industries are the first and only company in the US capable of economically and sustainably recycling low/no cobalt batteries, such as Lithium Iron Phosphate (LFPs), at scale using their unique Direct E2ETM recycling technology,” says Dr. Ramesohl. This Series B round, co-led by Bosch Ventures, Khosla Ventures, and LG Tech Ventures, is set to propel Li Industries’ innovative efforts.
Bosch Ventures’ Global Strategy
Robert Bosch Venture Capital GmbH (RBVC) focuses on investing in innovative startups across various technology sectors, including automation, electrification, energy efficiency, enabling technologies, and healthcare systems. Through initiatives like the Open Bosch Program, RBVC fosters co-innovation between Bosch and startups. The Bosch Group’s broad global presence, with over 429,000 employees and sales of €91.6 billion in 2023, supports its mission to drive sustainability and technological advancement. Bosch’s commitment to innovation is evident in its extensive R&D efforts, employing around 90,000 associates, including nearly 48,000 software engineers, across 136 locations worldwide.
For more information, visit Bosch Ventures and Bosch Group.
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