A massive battery recycling plant is being built in Germany by Cylib, a startup looking to reduce waste from EV batteries that have reached the end of their life.
Cylib, which is backed by luxury sports car firm [Porsche](https://www.cnbc.com/quotes/P911-DE/) and appliances maker Bosch, on Monday started work on the new site in the town of Dormagen, in the German federal state of North Rhine-Westphalia.
More than 180 million euros ($200 million) is being pumped into the facility, which is expected to span 236,000 square feet and will produce recycled batteries for the electric vehicle industry in Europe.
Cylib says its facility will be the largest end-to-end lithium-ion battery recycling facility in Europe.
It plans to recycle roughly 30,000 metric tons of end-of-life batteries at the facility each year, making it larger in scale than the current biggest plant, Hydrovolt, a joint venture between Swedish EV battery maker Northvolt and Norway-based aluminum and renewable energy firm Hydro.
1 comment
A massive battery recycling plant is being built in Germany by Cylib, a startup looking to reduce waste from EV batteries that have reached the end of their life.
Cylib, which is backed by luxury sports car firm [Porsche](https://www.cnbc.com/quotes/P911-DE/) and appliances maker Bosch, on Monday started work on the new site in the town of Dormagen, in the German federal state of North Rhine-Westphalia.
More than 180 million euros ($200 million) is being pumped into the facility, which is expected to span 236,000 square feet and will produce recycled batteries for the electric vehicle industry in Europe.
Cylib says its facility will be the largest end-to-end lithium-ion battery recycling facility in Europe.
It plans to recycle roughly 30,000 metric tons of end-of-life batteries at the facility each year, making it larger in scale than the current biggest plant, Hydrovolt, a joint venture between Swedish EV battery maker Northvolt and Norway-based aluminum and renewable energy firm Hydro.
More: [https://www.cnbc.com/2024/09/09/porsche-backed-cylib-breaks-ground-on-huge-ev-battery-recycling-plant.html](https://www.cnbc.com/2024/09/09/porsche-backed-cylib-breaks-ground-on-huge-ev-battery-recycling-plant.html)