Altilium (Formerly Altilium Metals), a London-based CleanTech startup, has signed a non-binding Memorandum of Understanding (MOU) with Marubeni, a Japanese trade and investment business conglomerate, to jointly develop EV battery recycling businesses in the UK and Europe, including the joint development of a UK supply chain of end-of-life lithium-ion batteries for recycling.

As part of this partnership, both companies will leverage their expertise, resources, and market presences to secure the supply of feedstock, including black mass, end-of-life batteries, and gigafactory scrap. They will also focus on further developing and scaling Altilium Metals' proprietary technology to produce cathode active materials (CAM) from electric vehicle battery scrap.

For Marubeni, the partnership will allow it to examine possible synergies across its existing assets, including mobility business, battery material trading expertise, renewable energy access, energy management skills, and chemical reagent supply for recycling.

Analyst QuickTake: Altilium Metals has been developing and expanding its proprietary technology to produce recycled CAM. In April of this year, the company partnered with Imperial College to analyze its recycled CAM performance. The company will also build reportedly the largest EV battery recycling facility in Teesside, UK, with plans to begin operations in 2025.