SQM Lithium Ventures is proud to say that it has increased its investment in Altilium by USD 9.43 million, bringing its total contribution to USD 12 million. Altilium Clean Technologies, a UK-based startup dedicated to clean technologies, seeks to support the energy transition towards net zero emissions. This investment completes Altilium's "Series A" financing round and marks the largest investment to date by SQM Lithium Ventures, highlighting its commitment to developing a circular economy for sustainable battery materials.

SQM Lithium Ventures made an initial investment of $2.57 million in Altilium last year, and the company has since achieved several important development milestones. These include the expansion of its recycling facilities in the UK, improvements to its patented "EcoCathode" hydrometallurgical process and the strengthening of its management team.

The additional funding will accelerate the expansion of Altilium's activities in the UK and Europe. This will facilitate the launch of its full battery circularity offering, spanning from zero-carbon EV battery collection, to black mass recycling and direct-to-cathode active material (CAM) chemical refining.

Key milestones for 2024 include the construction of a small commercial scale plant in Plymouth, Devon, to process battery and CAM precursors. As well as the establishment of Battery Recycling Stations (BRS) to transform electric vehicle batteries into high-quality black mass. Additionally, Altilium is progressing the adaptation of an SX-EW plant in Eastern Europe for hydrometallurgical refining and plans to complete an electric vehicle battery recycling facility on Teesside, with the capacity to process waste batteries from 150,000 electric vehicles and meet 20% of UK CAM demand by 2030.

Altilium and SQM leaders expressed their excitement about this partnership and their shared commitment to sustainability and innovation in the lithium battery industry. This investment not only seeks to generate a positive impact on the circular economy and the reduction of carbon emissions, but also to establish new sustainable supply chains for critical materials such as lithium, nickel and cobalt.