The state-of-the-art facility, located at Chempark on the outskirts ofDusseldorf, will spread across three football pitches.
Once operational scheduled for 2026 the plant is slated to recycle 30,000 tons ofEVbatteries a year.
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This differs from competitors, most of which only extract a few key elements from old batteries.
By processing all of them, Cylib can also sell all of them.
The partners claim their method uses 30% less energy than competitors.
In total, Cybil and its backers are investing more than 180mn into the facility, according toCNBC.
As Porsches investment hints, Cylib is targeting EV-makers as its key customer base.
As Europe electrifies, battery recycling is becoming an increasingly key priority for policymakers.
In May, the EUs Critical Raw Materials Act (CRMA) entered force.
The bill aims to secure a sustainable supply of critical raw materials that isnt reliant on foreign powers.
The European Commission is expected to award funding to the first projects by the end of 2024.
Story bySion Geschwindt
Sion is a freelance science and technology reporter, specialising in climate and energy.
