- Marubeni invested $5 million in Altilium to develop the UK’s largest EV battery recycling facility.
- The Teesside facility will recycle waste from 150,000 EVs yearly and produce 30,000 metric tons of materials.
- Altilium’s technology cuts emissions by 74%, reduces costs, and establishes a circular battery supply chain in the UK.
Marubeni invests $5 million in UK battery recycling specialist, Altilium, with view to open Teeside plant
Marubeni Corporation, a major Japanese trading and investment group, has invested $5 million in Altilium. The funding is part of Altilium’s Series B round and marks a key step in the UK-based company’s growth.
Kamran Mahdavi, CEO of Altilium, commented:
“We are proud to welcome Marubeni as a strategic partner at this pivotal stage in Altilium’s growth journey. Their investment strengthens our position as leaders in sustainable battery materials and reinforces our commitment to building the UK’s largest EV battery recycling facility. Together, we are advancing our mission to create a UK closed-loop supply chain, reduce dependency on imported materials and lowering the environmental footprint of battery production. This partnership marks a major milestone in establishing a truly circular economy for the UK’s battery industry.”
Altilium focuses on sustainable lithium-ion battery materials and recycling. The investment will support the development of the UK’s largest planned EV battery recycling facility in Teesside. Once completed, the facility will recycle battery waste from 150,000 electric vehicles annually. It will also produce 30,000 metric tons of low-carbon cathode active materials (CAM). This output could meet 20% of the UK’s CAM needs by 2030.
The facility will use Altilium’s EcoCathode™ technology, which recovers over 95% of valuable metals from end-of-life batteries. This approach reduces raw material costs by up to 20% and cuts greenhouse gas emissions by 74% compared to mining virgin materials.
This investment builds on a 2023 Memorandum of Understanding between Altilium and Marubeni. Together, they aim to establish a closed-loop EV battery recycling system in the UK.
Earlier this year, Altilium raised $12 million in Series A funding from SQM Lithium Ventures. The company is now positioning itself as a leader in sustainable battery materials for the net-zero transition.
