The additional funding follows a year of progress in the scaling up of Altilium’s proprietary battery recycling technology and underscores both companies’ commitment to developing a circular economy for sustainable low and carbon battery materials

Altilium’s technological focus is to produce high-volume, low-carbon domestic sources of cathode and anode materials from recycling waste streams already in circulation, such as lithium scrap.

The additional funding is expected to accelerate the scale-up Altilium’s UK and European activities, paving the way for the roll-out of the company’s full battery circularity customer offering, which includes zero-carbon EV battery collection, black mass recycling and chemical refining direct to cathode active material (CAM).

SQM’s investment provides the opportunity to participate in the creation of a new industry: the recovery of critical minerals such as lithium, nickel, and cobalt from recycled batteries. This will allow SQM to add value to the new battery supply chain, while at the same time maintaining sustainable consumption levels of resource consumption, water use, and carbon footprint.