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Home Tech Automobiles

Porsche-Backed Startup Launches Major Battery Recycling Plant to Power Europe’s EV Revolution

by Samir Gautam
September 11, 2024
in Automobiles, Cars, Electric Vehicles, Tech
Reading Time: 2 mins read
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Porsche Demoted from DAX Amid Falling Demand and Trade Pressures
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Elon Musk, the CEO of SpaceX, declared on Saturday that the company will send its first unmanned Starships to Mars in two years, during the next Earth-Mars transfer window. According to Elon Musk, these will be tested without humans to see how likely it is for them to land safely on Mars. The first crewed missions to Mars will take place in four years, he continued, providing those landings proceed as planned.

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“The first Starships to Mars will launch in 2 years when the next Earth-Mars transfer window opens,” Elon Musk said on X. To assess how likely it is that they will land on Mars undamaged, these will be unmanned. If those landings proceed as planned in four years, there will be the first crewed trips to Mars. From then, the flight rate will increase dramatically to create a self-sufficient metropolis in around 20 years.

Since we won’t be able to physically and physiologically lay all of our eggs on one planet, being multiplanetary would likely greatly extend the duration of awareness,” he continued. Musk claimed in a different X post that SpaceX invented the first completely reusable rocket stage and made it profitable to do so. “Much more significantly, SpaceX made the reuse financially feasible in addition to developing the first rocket stage that is entirely reusable. The core issue with making life multi-planetary is the cost per ton to Mars, as Musk stated on X.

Cylib Secures €55 Million for New Facility in Chempark to Propel European Battery Infrastructure

The European Union, which seeks to guarantee the sustainable development of batteries required to power the shift to electric vehicles, has made battery recycling a top priority. Cylib, a German company founded in 2022 by Paul Sabarny, Gideon Schwich, and Lilian Schwich, employs water-based lithium and graphite recovery procedures to recover elements from batteries that are nearing the end of their useful lives.

The company secured 55 million euros in funding earlier this year from investors that included DeepTech & Climate Fonds, Porsche Ventures, Bosch, and World Fund, a venture capital group that focuses on climate change.

According to Cylib, the new factory will mainly service customers in the automotive, battery, and chemical industries. Within the next several years, the firm hopes to open more locations around Germany and Europe, making this the first of many.

The new facility is being constructed on a brownfield site in Chempark, an industrial area mostly utilized by the chemicals sector. According to Cylib, the location was strategically important because it was already home to pre-existing supply networks. The facility is expected to start operating in 2026. CEO Lilian Schwich stated that Cylib’s capacity to achieve mass manufacturing depends on this step. In a news release, Schwich stated, “Cylib’s reaching industrial scale production will be a key driver in building a robust European battery infrastructure.”

Tags: Porsche
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