Expanding company thanks Devon for its backing "from day one"

An innovative Devon company is set to expand and create new jobs in the county after receiving significant commercial investment to scale-up its pioneering EV battery recycling technology.

Altilium has begun work on a new state-of-the-art hydrometallurgical lab at its EV Battery Recycling Technology Centre in Tavistock, as well as a 10,000 square-foot pilot facility in Plymouth, following the multi-million pound investment from SQM Lithium Ventures, the corporate venture arm of the lithium business of SQM, one of the world’s leading producers of lithium.

The expansion comes just a little over a year after Devon County Council awarded Green Innovation Funding to Altilium to help it pilot its patented technology. Altilium expects to create around 50 jobs in the county and has already begun recruiting for new roles.

Altilium is the only company in the UK recovering critical minerals from waste Electric Vehicle batteries. It has developed a technology enabling it to retrieve 95% of these minerals, including lithium, nickel, cobalt and manganese, which can be used in the production of new batteries. This can reduce the carbon footprint of a new EV battery by 50% and the cost by 20%.

The pilot plant is the first of its kind in the UK and is scheduled to begin operations in early 2024. It will have the capacity to process around one EV battery per day, producing high volumes of cathode active materials (CAM) for qualification with automotive OEMs (Original Equipment Manufacturers) and battery manufacturers.

In addition to the environmental benefits, Altilium’s recycling technology is also helping to develop a sustainable domestic supply chain for these critical battery metals, leading to greater energy security and helping to attract EV battery manufacturing to the UK.

The investment from SQM is accelerating the commercialisation of Altilium's technology, enabling the company to scale-up and paving the way for its first commercial plant in the UK.

Councillor Rufus Gilbert, Devon County Council Cabinet Member for Economic Recovery and Skills, said: “Congratulations to Altilium on receiving this significant new investment. It’s excellent news for the company as it will enable them to continue expanding their operations in the county but also for the wider Devon economy as it will help create new jobs in the area. It’s extremely rewarding to know that the County Council’s Green Innovation funding has played a small part in helping the company reach this point in its growth.”

Dr Christian Marston, COO and co-founder of Altilium Metals, said: “Devon County Council has believed in us from day one and we have always said that the support from Devon County Council has been transformational for us as a company. The Green Innovation funding from Devon helped us scale-up to a pilot phase and that set us on a path which has made this latest investment possible.

“We are delighted to have SQM as our partner as we embark on this next phase of growth to produce low carbon and sustainable lithium from recycling old EV batteries, returning valuable critical materials for direct reuse in an EV supply chain. Together with SQM, we will build a circular economy and close the loop in battery manufacturing.”

Devon County Council’s Green Innovation Fund was part of its £6million recovery programme following the Covid 19 pandemic, with Devon’s green recovery being one of the key areas for targeted support. The grants awarded through the Green Innovation Fund aimed to support Devon’s transition to a Net Zero economy by supporting businesses in the low carbon sector, creating economic growth alongside environmental benefits.

For more information visit Devon County Council’s economy webpages.