Next.e.GO Mobile and cylib announcing cooperation to develop sustainable recycling processes for lithium-ion batteries

AACHEN, Germany, Dec. 14, 2023 (GLOBE NEWSWIRE) -- Next.e.GO Mobile SE (“e.GO”), an innovative German producer of urban battery electric vehicles based on disruptive production technology, and cylib, a leading battery recycling emerging enterprise from Aachen, announced today the start of a strategic cooperation. The first e.GO batteries have been transferred to cylib to enhance the recycling process and enable the recovery of all raw materials contained in the battery. This collaboration represents an important milestone promoting the circular economy within electromobility and ensuring the local safeguarding of crucial battery raw materials.

The initiation of this partnership was formalized in late 2022, reflecting the joint commitment of both e.GO and cylib to improve the ecological footprint of electromobility. The overarching objective is to enhance the sustainability of electric vehicles by adopting a comprehensive approach to the entire life cycle of lithium-ion batteries, from development and utilization to recycling. Both companies embrace the principles of a circular economy, guided by the core tenets of "reduce, reuse and recycle”.

"Our goal is to facilitate a holistic and sustainable urban e-mobility paradigm, reimagined from inception to completion. From the flexible and capital-efficient production in our distinctive MicroFactory, minimizing energy and water consumption, to the enduring and versatile utility of our vehicles, we are committed to responsible resource utilization. The partnership with cylib underscores our vision for sustainability throughout the entire ecosystem, covering material selection, production, vehicle use, and their ultimate disposal and recycling. By providing our batteries to cylib, we aim to support the refinement of their innovative recycling process. We anticipate that the outcomes will provide invaluable insights into the parameters governing vehicle batteries, ultimately contributing to advancing their recycling potential," says Dr. Stefan Rudolf, CTO of Next.e.GO Mobile SE.

To further this vision, e.GO has started supplying batteries to cylib contributing to the advancement of the recycling process developed through extensive research at RWTH Aachen University. The partnership anticipates yielding valuable insights into the requisits in terms of design, assembly methods, and their prospective recycling characteristics.

"We aspire to establish a new standard for sustainable, holistic battery recycling and are delighted that e.GO is supporting this mission. Our collaboration with e.GO marks a significant step towards expediting the realization of our vision. Commencing with the reception of e.GO batteries, our partnership will accelerate the execution of our vision. The close cooperation and proximity facilitate seamless communication, streamlining the recycling process, and enabling the development of transparent business models. Together, we are looking forward to elevating the sustainability of electric vehicles to new heights," says Paul Sabarny, CTO of cylib.

This partnership underscores a transformative step toward realizing a sustainable future for electric vehicles, exemplifying the shared dedication of e.GO and cylib to pioneering innovation and environmental stewardship within the rapidly evolving electric mobility universe. As both companies strive to redefine industry norms, this collaboration serves as a testament to their commitment to leveraging innovation in pursuit of sustainable practices and responsible resource management.

About e.GO

Headquartered in Aachen, Germany, e.GO (a subsidiary of Next.e.GO N.V., NASDAQ: EGOX) designs and manufactures battery electric vehicles for the urban environment, with a focus on convenience, reliability and affordability. e.GO has developed a disruptive solution for producing its electric vehicles using proprietary technologies and low cost MicroFactories, and has vehicles already on the road today. e.GO is helping cities and their inhabitants improve the way they get around and is making clean and convenient urban mobility a reality. Visit https://www.e-go-mobile.com/ to learn more.

About cylib

cylib GmbH is the leading start-up for holistic battery recycling. The proprietary end-to-end process of cylib is characterized by the efficient, resource- and climate-friendly recovery of all valuable elements in a battery. In addition to the high recycling efficiency the water-based lithium and graphite recovery is particularly instrumental for the low environmental impact. The company was founded in 2022 in Aachen, Germany, by Lilian Schwich (CEO), Paul Sabarny (CTO) and Dr.-Ing. Gideon Schwich (COO). Today, cylib has 43 employees. Learn more at: www.cylib.de

FORWARD-LOOKING STATEMENT

This press release includes forward-looking statements. The words "expect", "anticipate", "intend", "plan", "estimate", "aim", "forecast", "project", "target", "will" and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding e.GO’s or Next.e.GO N.V.’s (together the “Company”) intentions, beliefs, or current expectations. Forward-looking statements involve inherent known and unknown risks, uncertainties, and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance, or achievements of the Company to be materially different from those expressed or implied by such forward looking statements. These risks, uncertainties and assumptions include, but are not limited to (i) changes in domestic and foreign business, market, financial, political and legal conditions; (ii) risks relating to the uncertainty of the projected financial information; (iii) future global, regional or local economic and market conditions; (iv) the development, effects and enforcement of laws and regulations; (v) the Company’s ability to grow and achieve its business objectives; (vi) the effects of competition on the Company’s future business; (vii) the ability of the Company to issue equity or equity-linked securities in the future; and (viii) the outcome of any potential litigation, government and regulatory proceedings, investigations and inquiries. For additional information concerning some of the risks, uncertainties and assumptions that could affect our forward-looking statements, please refer to the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”), which are accessible on the SEC’s website at www.sec.gov and on our website at investors.e-go-mobile.com. Many of these risks and uncertainties relate to factors that are beyond the Company's ability to control or estimate precisely, such as the actions of regulators and other factors. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the company assumes no obligation to update any such forward-looking statements.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3497c3ff-6f28-4daf-91e5-7113ca0f07b4