Lithium Salvage receives £1.7 million refinery boost

A battery recycling firm is powering up refinery plans with £1.7 million support.

Lithium Salvage has been backed by investors to create a Sunderland-based factory.

Officials say the venture will recycle metals including lithium, cobalt and nickel from spent batteries into salts for new power packs.

They add it will help the business scale production as it seeks to become the UK’s “only end-to-end household lithium-ion battery recycler by 2026”, helping cut waste from products such as power tools, mobile phones and vacuum cleaners.

The firm’s £1.7 million investment round was led by Northstar Ventures, via its Venture Sunderland Fund, with additional investment from Sixth Wave Ventures and NPIF II – Maven Equity Finance, which is managed by Maven as part of the Northern Powerhouse Investment Fund II and supported by the British Business Bank.

Further support came from Gaspara Asset Management and UK business angel investors.

Simon Robeson, Lithium Salvage chair and founder, said: “This is a further vote of confidence in our vision, our technical capabilities and our mission to create a scalable and ecologically sound supply chain for recycled lithium-ion battery materials.”

Tom O’Neill, Northstar Ventures investment manager, said: “We are extremely pleased to lead this round of investment in Lithium Salvage as the second deal from our Venture Sunderland Fund. 

“Lithium Salvage is tackling a major environmental issue, and we look forward to working with them to achieve their vision.”

Michael Dickens, Maven Capital Partners investment manager, said: “Simon and the team have built an impressive business.

“We look forward to supporting them as they seek to operate the UK’s first end-to-end household appliances lithium-ion battery recycling facility.”

Sarah Newbould, British Business Bank senior manager, added: “This investment demonstrates how funding can generate a wider positive impact beyond business and create a more sustainable future for everyone.”

Lithium Salvage has been supported by Innovate UK and counts collaborations with Teesside University, CPI, GAP Group, Pennine Energy and 6th Engineering. 

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