Altilium in fresh campaign to power battery work

A company behind plans to build the “UK’s largest” electric vehicle battery recycling plant has launched a new crowdfunding campaign.

Altilium is working with Republic Europe on a Series B1 funding extension.

Officials say it will “support the continued scale-up of the company’s electric vehicle battery recycling technology,” which includes a planned Teesside factory.

Earmarked to turn electric vehicle battery waste into a new component for next-generation automotive power packs, the firm says the plant will process more than 150,000 electric vehicle batteries a year.

Dr Christian Marston, co-founder and chief operating officer at the business - which is building a Plymouth-based scale-up plant - said the campaign marks “a critical step in the firm’s mission to build a circular economy for electric vehicle batteries”.

He added: “This is about building a community of supporters who believe in a cleaner and more sustainable future.

“We’re incredibly proud to have the backing of major international groups and excited to open the door to individual investors.”

The venture follows a recent Series B raise led by Japanese trading group Marubeni Corporation and Mizuho Bank, and previous support from SQM Lithium Ventures.

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