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Altilium, a UK-based clean technology group, has announced a Series B1 funding extension through a crowdfunding campaign with Republic Europe. This initiative follows a successful Series B raise led by Marubeni Corporation and Mizuho Bank. The new funding will support the continued scale-up of Altilium’s innovative EV battery recycling technology.
Key Highlights:
- Altilium is launching a Series B1 funding extension via a crowdfunding campaign with Republic Europe (formerly Seedrs).
- This follows a recently closed Series B funding round led by Japanese trading group Marubeni Corporation and Mizuho Bank.
- The funding will support the scale-up of Altilium’s EcoCathode™ process for EV battery recycling.
- The company aims to build a sustainable domestic supply chain of critical raw materials in the UK.
- The crowdfunding campaign seeks to engage local communities and increase visibility for recycling.
- Altilium’s ACT4 mega-scale recycling facility, in the final planning stages, will process scrap from over 150,000 EVs annually, producing 30,000 tonnes of cathode active material (CAM). This is expected to meet nearly 20% of UK demand by 2030.
- The EcoCathode™ process can recover over 95% of critical metals from end-of-life EV batteries.
- Recycled cathode materials can result in up to 74% lower greenhouse gas emissions compared to virgin mined materials.
Altilium’s proprietary EcoCathode™ process is central to its mission, enabling the recovery of over 95% of critical metals like lithium, nickel, and cobalt from end-of-life EV battery waste. This technology is designed to transform hazardous waste into sustainable, UK-made battery materials, thereby reducing the UK’s reliance on imported materials and bolstering industrial resilience and economic growth. The company’s efforts are geared towards creating a circular economy for EV batteries.
Dr. Christian Marson, co-founder and COO at Altilium, stated that the crowdfunding campaign aims to build a community of supporters who believe in a cleaner, more sustainable future, complementing the backing from major international groups.
Founded in 2020, Altilium has rapidly become a leading clean technology firm in the South West of England, with operations across three locations in Devon. This includes its ACT 2 recycling facility in Plymouth, the first of its kind in the UK. The company has also begun work on its new ACT 3 scale-up plant in Plymouth and is in the final planning stages for its ACT4 mega-scale recycling facility. This large-scale facility is projected to process scrap from more than 150,000 EVs per year, producing 30,000 metric tonnes of CAM, which could satisfy nearly 20% of the UK’s anticipated demand by 2030. Altilium’s planned Teesside plant is also set to be one of the largest EV battery recycling facilities in Europe.
The use of Altilium’s technology not only supports a globally competitive battery supply chain in the UK but also contributes to cutting the carbon footprint of battery manufacturing. Recycled cathode materials can lead to up to 74% lower greenhouse gas emissions compared to those produced from virgin mined materials.
Republic Europe’s platform allows individual investors to support high-growth companies like Altilium, providing entrepreneurs with access to capital. Since its inception in 2012, Republic Europe has facilitated over 2,000 deals, participating in rounds totaling over £2.8 billion.
Altilium is backed by notable investors including SQM Lithium Ventures, Marubeni Corporation, and Mizuho Bank. The company’s focus is on reshaping the UK and European automotive supply chain by providing high-volume, low-carbon domestic sources of cathode and anode materials from recycled waste streams.
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