Altilium, a UK-based Clean Tech startup, and Nissan have teamed up to work on a sustainable project within the UK's electric vehicle (EV) battery space. The initiative focuses on utilizing advanced recycling technologies to decrease the carbon footprint and reduce the reliance on imported raw materials.
The partnership is part of a GBP 30 million (~USD 38.2 million) collaborative project announced by the Advanced Propulsion Centre (APC), which has been awarded grant funding of GBP 15 million (~USD 19 million). It aims to reuse, recycle, and implement energy-balancing technology for EV batteries using Altilium's proprietary EcoCathode process.
Analyst QuickTake: Altilium aspires to make its technology a standard for EV battery management in the UK by 2030. Recent funding to develop the technology includes a USD 9.43 million Series A funding round in February 2024 and around USD 7.6 million from multiple UK Government grants.
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