• Financing is already available to support the ramp-up of cylib’s site in Wernberg-Köblitz
• The financing complements cylib’s existing equity funding and public project grants as the company moves into industrial-scale production

Aachen, Germany, 12 November 2026 – Battery recycling company cylib has received its first bank financing from Sparkasse Aachen, a public savings bank, enabling it to advance the ramp-up of its site in Wernberg-Köblitz. The funds are already available. At the Bavarian site, end-of-life batteries are discharged, dismantled, and mechanically processed.

The site, which recently began operations, is the first operational link in cylib’s end-to-end recycling chain: end-of-life EV batteries are mechanically processed there into “black mass,” an intermediate product that will subsequently be fed into cylib’s hydrometallurgical recovery processes at the upcoming Dormagen site in North Rhine-Westphalia.

“Access to bank financing supports execution. It helps us take the step from pilot operations to industrial production,” says Dr. Gideon Schwich, co-CEO and co-founder of cylib.

“The loan from Sparkasse Aachen is an important signal,” says Daniel Dietz, CFO of cylib. “It shows that traditional lenders can see the strength and maturity of cylib’s business model. At the same time, it adds bank financing to our funding base of equity and public grants for the first time. A key milestone in the further development of our financing mix.”

From research in Aachen to an operational network

After commissioning its pilot plant in Aachen in 2023, cylib closed a €55 million Series A financing round in 2024 and secured €89.5 million in public funding in 2025 to support the construction of a battery recycling plant on a former industrial site at CHEMPARK Dormagen. The financing from Sparkasse Aachen adds to this financing mix.  

Aachen is where cylib was founded, where it developed its water-based technology, and where it put its pilot plant into operation. The Wernberg-Köblitz site, which cylib took over in July 2026, has an annual processing capacity of up to 10,000 metric tons of end-of-life EV batteries. The resulting black mass is earmarked for hydrometallurgical processing in Dormagen, linking mechanical processing in Bavaria with the recovery of critical raw materials in North Rhine-Westphalia.

“cylib’s development shows how entrepreneurial spirit and research ‘made in Aachen’ create sustainable value that extends beyond the region,” says Thomas Salz, member of the Management Board of Sparkasse Aachen. “We are pleased to support cylib in its next growth phase, because supporting companies along the way is part of our business model. At the same time, cylib’s success story reflects the great potential of the Aachen region as a place where scientific expertise, entrepreneurial commitment, and growth ambitions come together.  cylib can therefore serve as an inspiration for young companies that are launching in the region and gradually expanding their operations.”

About cylib

cylib is a holistic and sustainable battery recycling company founded in Aachen in 2022 by Dr. Lilian Schwich, Paul Sabarny, and Dr. Gideon Schwich. The company emerged from research at RWTH Aachen University on producing advanced materials for sustainable batteries and resilient European value chains. cylib operates an integrated network across Germany: research and development at its headquarters in Aachen, hydrometallurgical processing in Dormagen (under construction), and mechanical processing in Bavaria.

The water-based OLiC technology (Optimized Lithium and Graphite Recovery) efficiently recovers raw materials from battery packs, black mass, or production scrap, achieving recovery rates of more than 90% for lithium, graphite, nickel, cobalt, and manganese, with a CO₂ footprint 80% lower than primary production, enabling a circular economy for battery materials.

Photo caption: From left: Daniel Dietz (CFO, cylib), Dr. Gideon Schwich (co-CEO and co-founder, cylib), Thomas Salz (member of the Management Board, Sparkasse Aachen), and Stefan Kummer (Head of Corporate and Business Banking, Aachen, Sparkasse Aachen). Photo: cylib/Heike Lachmann