It represents the largest round ever raised by a European battery recycling company, achieved within less than 24 months since Cylib began operations. The funds will enable Cylib to industrialize its proprietary technology further, already utilized by leading OEMs and battery manufacturers. Furthermore, operations are set to scale up at a brownfield industrial facility in Germany, which has already been secured for this purpose.

Likewise, in January 2024, Corre Energy, a Dutch energy storage company, and Eneco entered into a partnership to co-develop and co-invest in a compressed air energy storage (CAES) project in Germany. This project is set to have a power-generating capacity of 320MW. As part of the agreement, Eneco will acquire a 50% stake in the project.

Germany battery market: 16.09% CAGR (2024-2032)

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Germany is also experiencing a wave of new battery production facilities and factories. For example, Northvolt, a battery manufacturing startup, announced the opening of a new battery cell gigafactory in Germany. The company aims to replicate the ‘gigafactory’ concept, producing batteries at the ‘gigawatt-hour’ scale for electric vehicles. Similarly, CATL announced the commencement of battery production in Germany, targeting an output of 8 gigawatt-hours of battery cells at their new plant. These developments are expected to significantly contribute to the market growth in Germany during the forecast period.

The Germany battery market is segmented into type, technology, and application. The technology segment is further categorized into nickel-zinc (NiZn) battery, lead-acid battery, lithium-ion battery, sodium-sulfur (NAS) battery, nickel-cadmium battery, zinc-manganese dioxide battery, flow battery, nickel-metal hydride battery, small sealed lead-acid battery, and other batteries. 

The other batteries segment includes alkaline, silver oxide, solid state, and sodium-ion batteries. Significant research and development activities by market players and educational institutions worldwide are anticipated to drive market growth in the coming years. For example, in 2022, Nissan Motor (a Japan-based automaker) announced its collaboration with the National Aeronautics and Space Administration (NASA) and the University of California San Diego to commercialize next-generation cells. Nissan revealed a prototype factory for all-solid-state batteries, which promise to revolutionize electric vehicles by offering three times faster charging and twice the range compared to previous models. 

Additionally, in the same year, Urban Electric Power and Alchemy Industrial partnered to launch Ohm Core, a residential energy storage system based on rechargeable alkaline batteries. These research and development activities are expected to increase the adoption of various battery types for different applications, thereby promoting market growth during the forecast period.

Leading companies operating in the Germany battery market include BYD Company Ltd, Duracell, Exide Technologies, Johnson Controls Inc, etc.

Duracell Inc, owned by Berkshire Hathaway, is an American manufacturer of specialty cells, alkaline batteries, and smart power systems. Considered the world’s leading manufacturer and marketer of high-performance lithium coins, rechargeable batteries, and other specialty cells, Duracell powers various devices, including baby monitors, flashlights, smoke detectors, game console controllers, and toys. The company employs over 3,300 people globally and has regional headquarters in the United States, EMEA, and Asia.