Sustainable end-to-end battery recycling firm cylib has raised €55 million Series A funding round in equity financing.
The round is the largest round ever raised by a European battery recycling company, and was completed less than 24 months after the company started operations.
Demand for battery recycling is soaring. In order to ensure the move away from fossil fuels does not entail switching dependence onto other scarce mineral resources, recycling of minerals used in electric batteries must improve.