Altilium

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.