SQM and Marubeni Back Altilium’s UK Battery Recycling Expansion

UK clean technology company Altilium has secured follow-on investment from strategic shareholders SQM and Marubeni Corporation as part of its Series B2 funding round, reinforcing support for its plans to develop a domestic circular supply chain for electric vehicle (EV) battery materials, according to company reports. The investment follows an £18.5 million grant awarded through the UK Government’s DRIVE35 programme, delivered by the Advanced Propulsion Centre (APC) and Innovate UK, to support development of Altilium’s ACT 3 commercial battery materials refinery.

Located in Plymouth, Devon, ACT 3 is designed to process up to 24,000 end-of-life EV batteries annually, recovering materials including nickel mixed hydroxide precipitate (MHP), lithium sulphate and graphite for use in battery manufacturing. The project is intended to advance the commercial recovery of critical battery materials in the UK and reduce reliance on imported raw materials.

SQM and Marubeni were early investors in Altilium, with SQM leading its US$12 million Series A round and Marubeni participating in the subsequent Series B. Their continued investment reflects confidence in the company’s proprietary recycling technology and its potential to support a closed-loop battery materials supply chain.

Altilium’s development pathway spans ACT 1, its bench-scale facility, ACT 2 pilot operations and the commercial development of ACT 3. The company’s longer-term plan is ACT 4, a proposed recycling and cathode active material (CAM) production facility designed to process 150,000 EV batteries per year and supply a significant proportion of the CAM required by UK gigafactories.

The investment comes as demand for battery materials is expected to increase alongside EV adoption and battery manufacturing capacity. According to the Advanced Propulsion Centre UK, annual battery demand from the UK automotive sector alone is forecast to rise from 13 GWh in 2027 to 75 GWh by 2035. Expanding domestic recycling capacity could help recover valuable materials from retired batteries and strengthen supply-chain resilience as demand grows.

Altilium CEO Kamran Mahdavi said the continued backing of SQM and Marubeni, alongside UK government support, would help accelerate ACT 3’s development and advance the company’s plans for a domestic circular battery economy.

Source: Altilium

SUNSHINE Spotlight: Altilium’s investment and development plans highlight the growing role of end-of-life EV battery recycling in recovering critical materials and supporting the UK’s emerging battery manufacturing supply chain.