The follow-on funding, as part of Altilium’s Series B2 round, illustrates the continued confidence in the company’s patented technology, leadership and long-term vision to build a domestic circular supply chain for EV batteries in the UK.
The investment builds on significant recent momentum for Altilium, including the award of £18.5 million in grant funding through the UK Government’s DRIVE35 programme, delivered by the Advanced Propulsion Centre (APC) and Innovate UK. This funding will support the, marking a critical step toward industrialising domestic, low-carbon battery materials production in the UK.
Both SQM and Marubeni were early investors in Altilium, with SQM leading the $12 million Series A round and Marubeni joining as a key investor in the subsequent Series B. Their continued participation in the Series B2 round reflects strong confidence in Altilium’s ability to scale its proprietary recycling technology and deliver a closed-loop solution for critical battery materials.
Altilium’s scale-up pathway, progressing from its ACT 1 bench-scale facility through ACT 2 pilot operations and now into ACT 3 commercial development, demonstrates a structured, low-risk and capital-efficient approach to industrialisation. The company is ultimately targeting ACT 4, a recycling and CAM production facility designed to recycle 150,000 EV batteries a year and supply a significant proportion of cathode active material (CAM) required by UK gigafactories.
“We are proud to have the continued support of SQM and Marubeni as we advance to the next phase of our growth” said Kamran Mahdavi, CEO of Altilium. “Their investment is a strong endorsement of our strategy to scale a UK-based circular economy for battery materials. With the backing of our strategic partners and the UK Government, we are accelerating the development of ACT 3 and laying the foundation for a globally competitive battery recycling industry in the UK.”
The UK is expected to see rapid growth in EV adoption and battery manufacturing capacity over the coming decade. According to the Advanced Propulsion Centre UK, battery demand from the UK automotive sector alone is forecast to grow from 13 GWh per year in 2027 to 75 GWh per year by 2035.
With strong alignment between industrial partners, investors and UK government support, Altilium is positioned at the forefront of the UK’s transition to a sovereign, sustainable and circular battery ecosystem.
Located in Plymouth, Devon, Altilium’s ACT3 plant will have capacity to process 24,000 EV batteries per year, producing high-value battery intermediates including nickel mixed hydroxide precipitate (MHP), lithium sulphate and graphite, which are all essential components for next-generation battery manufacturing.
By recovering these materials from end-of-life EV batteries, Altilium aims to reduce reliance on imported raw materials, lower carbon emissions and enhance supply chain resilience.
For additional information:
