SQM Lithium Ventures announced a USD 12 million investment in British startup Altilium, which specializes in recycling electric vehicle batteries. Using its EcoCathode technology, it recovers lithium, nickel, and cobalt from used batteries to manufacture new batteries, thus promoting a more sustainable industry.
SQM Lithium Ventures promotes the development of the circular economy
SQM Lithium Ventures announced a new investment of USD 9,43 million in Altilium Clean Technology , a British startup focused on clean technologies. With this capital injection, the company completes a total investment of USD 12 million in Altilium, consolidating the startup's Series A funding round.
This is the largest investment made to date by SQM Lithium Ventures and reflects its commitment to developing a circular economy for sustainable battery materials, key to the global energy transition.
Concrete results from the first investment
The relationship between the two companies began in 2023, when SQM Lithium Ventures contributed USD 2,57 million. Since then, Altilium has made significant progress:
- Expansion of its recycling facilities in the United Kingdom.
- Improvements to its patented hydrometallurgical process, EcoCathode.
- Strengthening your executive team.
EcoCathode: efficient recycling with high impact
EcoCathode is a technology developed by Altilium for efficient and sustainable recycling of electric vehicle batteries. Through an advanced hydrometallurgical process, this solution recovers more than 95% of critical metals such as lithium, nickel, and cobalt, even from batteries with different chemistries (such as NMC, LFP, or LCO).
The process not only reduces the need to extract minerals from new sources, but also transforms waste into high-quality materials, such as cathode precursors (pCAM) and cathode active material (CAM), ready for reuse in new batteries. This makes EcoCathode a key player in building a circular economy in the e-mobility industry.
Growth in the UK and Europe
The additional funding will accelerate the expansion of Altilium's operations in the UK and Europe. The goal is to advance a comprehensive circularity approach for EV batteries, from zero-emission collection to component recycling and CAM production, essential for new batteries.
Key projects for 2024
Among the most significant milestones that Altilium has set for itself this year are:
- Construction of a commercial pilot plant in Plymouth, Devon, to process battery and CAM precursors.
- Installation of Battery Recycling Stations (BRS) to convert batteries into high-quality black mass.
- Adaptation of an SX-EW plant in Eastern Europe for hydrometallurgical refining.
- Completion of a recycling plant in Teesside, capable of processing waste from 150.000 electric vehicles per year, which would meet 20% of the UK's CAM demand by 2030.
An alliance of Sustainability and Innovation
Both Altilium and SQM highlighted the strategic value of this partnership, aimed at reducing carbon emissions and developing new sustainable supply chains for key materials such as lithium, nickel, and cobalt.
With this investment, SQM reaffirms its commitment to innovation, sustainability, and the promotion of technological solutions that support the growth of electromobility worldwide.
More Information
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