Altilium

Investor: UK government

Altilium, a Plymouth-based cleantech firm, has secured £18.5m in grant funding through the UK government’s DRIVE35 Scale-Up Fund to scale its EV battery recycling capabilities. Summary of transaction details: Value: £18.5m Sector: Industrials & Energy Advisor: Not disclosed Key Entities: Altilium, UK government Location: Plymouth, UK Note: The funding will support the construction of Altilium’s new ACT3 recycling facility in Plymouth, which will be the UK’s first commercial refinery for the recovery of critical battery materials from end-of-life EV batteries, creating 70 new jobs and enhancing the growth, productivity and competitiveness of the UK automotive supply chain.

Investor: Department for Business and Trade and the Advanced Propulsion Centre

Altilium, a Devon-based clean tech company, has secured £18.5m in government funding to build the UK's first commercial refinery for recovering critical battery materials from end-of-life electric vehicles. Summary of transaction details: Value: £18.5m Sector: Sustainability Advisor: Not disclosed Key Entities: Altilium, Department for Business and Trade, Advanced Propulsion Centre Location: UK Note: The funding will support the development of a domestic circular supply chain for low carbon battery materials in the UK, reducing reliance on international supply chains and promoting sustainable practices.