Altilium Secures $5M Investment from Marubeni Corporation to Advance UK's Circular Battery Economy

Deal News | Jan 07, 2025 | PR Newswire Cision Altilium

Altilium, a UK-based clean tech firm, has secured a $5 million strategic investment from Marubeni Corporation, a Japanese trading and investment company, as part of its Series B funding round. The investment marks a key milestone in Altilium's mission to develop the UK's most sustainable lithium-ion battery materials via a circular economy model. Altilium plans to build the UK's largest EV battery recycling facility in Teesside, with the capacity to process battery waste from 150,000 end-of-life electric vehicles annually, aiming to meet 20% of the UK's cathode active materials demand by 2030. This joint venture with Marubeni, initially set under a 2023 Memorandum of Understanding, aims to establish a closed-loop supply chain and reduce dependency on international frameworks. Prior funding included a $12 million Series A round with SQM Lithium Ventures. Altilium’s efforts are backed by UK government innovation awards and aim to cut battery raw material costs by up to 20%.

Sectors

  • Clean Technology
  • Automotive
  • Materials

Geography

  • United Kingdom – Altilium is a UK-based company planning to build a major EV battery recycling facility in Teesside and aims to improve the UK's battery material supply chain.
  • Japan – Marubeni Corporation is a Japanese company investing in Altilium and collaborating on the battery recycling initiative.

Industry

  • Clean Technology – Altilium focuses on developing sustainable battery materials and recycling technologies, aligning with clean tech industry goals.
  • Automotive – The development of a large-scale EV battery recycling facility links Altilium to the automotive industry, supporting electric vehicle sustainability.
  • Materials – The company's mission involves refining recycled materials into battery precursors, positioning it within the materials sector.

Financials

  • US$5m – Strategic investment from Marubeni Corporation in Altilium's Series B funding round.
  • US$12m – Investment from SQM Lithium Ventures in Altilium's Series A funding round.

Participants

NameRoleTypeDescription
AltiliumTarget CompanyCompanyA UK-based clean tech group focused on sustainable lithium-ion battery materials and recycling.
Marubeni CorporationInvestorCompanyA leading Japanese trading and investment group investing in Altilium's Series B funding.
Kamran MahdaviCEOPersonCEO of Altilium, leading its growth and sustainability initiatives.
SQM Lithium VenturesPrevious InvestorCompanyCorporate venture arm of Sociedad Quimica y Minera de Chile, previously invested in Altilium's Series A funding.