Altilium, a pioneering UK-based startup in electric vehicle (EV) battery recycling, has successfully closed its Series A funding round with a substantial $12 million, bolstered by a significant $9.43 million investment from SQM Lithium Ventures. This latest financial injection completes the Series A round, with SQM Lithium Ventures, part of Sociedad Quimica y Minera de Chile (SQM)—a global leader in battery-grade lithium production—making an initial commitment of $2.57 million in 2023.
This investment represents the largest to date by SQM Lithium Ventures and underscores a strong endorsement of Altilium’s innovative approach to battery recycling. The funding is set to expedite Altilium’s expansion across the UK and Europe, enabling the deployment of its comprehensive battery circularity services. These services include the collection of zero-carbon EV batteries, the recycling of black mass, and the chemical refining process to produce cathode active material (CAM), essential for battery production.
Altilium is at the forefront of constructing its first mini-commercial plant in Plymouth, with ambitions for a larger facility in Teesside. This upcoming plant is poised to become one of Europe’s most significant EV battery recycling sites, marking a critical step in the region’s transition to sustainable battery production and recycling.
Kamran Mahdavi, CEO of Altilium, expressed enthusiasm about the funding milestone, highlighting it as a testament to the company’s rapid progress and ambitious vision for the future. With the support of SQM Lithium Ventures and a dedicated team, Altilium is set to advance its mission of contributing to the sustainability of the automotive supply chain.
David Rousselle, Engineering Manager at SQM and a new member of Altilium’s board, emphasized the strategic importance of lithium-ion battery recycling in supporting the burgeoning electromobility market. This investment signifies SQM’s proactive stance on global recycling initiatives, aligning with its broader goals of fostering human progress and ensuring economic, social, and environmental sustainability.
Altilium’s innovative recycling technology promises to transform the UK and European automotive sectors by offering a domestic source of cathode and anode materials derived from recycling existing waste streams, including lithium scrap. This development not only supports the sustainable growth of the EV market but also contributes significantly to the reduction of carbon emissions associated with battery production and disposal. 
