Altilium, a UK-based CleanTech startup, has received an investment of USD 9.43 million from SQM Lithium Ventures. This additional funding bumps the total investment by SQM Lithium Ventures in Altilium to USD 12 million, completing Altilium's Series A round.

The additional capital is earmarked to fast-track the expansion of Altilium's proprietary battery recycling technology and other operations in the UK and Europe, laying the groundwork for its complete battery circularity customer offering.

The company’s operational highlights for 2024 include the construction of a small commercial plant in Plymouth, Devon, constructing a battery recycling station, commencing  European hydrometallurgical refining, and finalizing plans for its Teeside facility.

Analyst QuickTake : Altilium has been making significant strides toward emerging as a leading battery recycler in Europe. It recently partnered with ABB and ​​ Chile's Universidad Católica del Norte to advance its technology in addition to securing a steady stream of funding from the UK Government including from the Government Innovation Fund and Automotive Transformation Fund . Once operational, the company’s Teeside facility is claimed to become the UK’s largest BEV recycling facility and aims to meet 20% of the UK’s Cathode Active Materials (CAM) requirement by 2030.