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Altilium, a UK-based clean technology leader in sustainable lithium-ion battery materials, has announced a $5 million strategic investment from Marubeni Corporation, a prominent Japanese trading and investment group. This funding, part of Altilium’s Series B round, will bolster the development of the UK’s largest EV battery recycling facility in Teesside. The facility is set to process battery waste from 150,000 electric vehicles annually, producing 30,000 metric tons of low-carbon cathode active materials (CAM).
Key Highlights:
- Teesside Facility Development: Funding will support detailed engineering studies, land acquisition, permitting, and leadership recruitment for the recycling plant.
- Sustainability Impact: The facility will contribute to meeting 20% of the UK’s CAM requirements by 2030, reducing reliance on international supply chains.
- EcoCathode™ Technology: Altilium’s proprietary process recovers over 95% of metals from EV batteries, cutting material costs by 20% and emissions by 74%.
- Strategic Partnership: Altilium and Marubeni have collaborated since 2023 under a Memorandum of Understanding (MOU) to develop a closed-loop EV battery recycling business in the UK.
The Teesside plant marks a pivotal milestone in Altilium’s mission to create a closed-loop battery supply chain. By processing end-of-life batteries domestically, Altilium aims to save natural resources and significantly reduce greenhouse gas emissions. The company’s innovative EcoCathode™ technology will ensure sustainable production of CAM for new batteries, aligning with the UK’s net-zero goals.
Kamran Mahdavi, CEO of Altilium, stated:
“We are proud to welcome Marubeni as a strategic partner at this pivotal stage in Altilium’s growth journey. Together, we are advancing our mission to create a UK closed-loop supply chain, reduce dependency on imported materials, and lower the environmental footprint of battery production.”
This investment also aligns with Marubeni’s Mid-Term Management Strategy GC2024, which prioritizes building a sustainable supply chain for critical metals essential to a decarbonized society. Marubeni brings decades of expertise in the battery materials industry, further solidifying its role in driving the green energy transition.
Altilium’s recent Series A funding of $12 million from SQM Lithium Ventures has already established the company as a key player in sustainable battery materials. With operations already underway at its mini-commercial plant in Plymouth, the Teesside facility will scale up these efforts, making Altilium a cornerstone of the UK and European battery recycling ecosystem.
For more details, visit www.altilium.tech.
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