Altilium Metals, a UK-based green technology group focused on supporting the transition to net zero, has today announced the signing of a non-binding Memorandum of Understanding (“MOU”) with Marubeni Corporation (“Marubeni”), Japanese trading and investment group.
The MOU marks a significant milestone in Altilium Metals’ growth strategy and paves the way for a strong strategic partnership between the two companies.
Under the framework of the MOU, the two companies will work together to explore opportunities to jointly develop EV battery recycling businesses in the UK and Europe. This will include the joint development of a UK supply chain of end-of-life lithium-ion batteries for recycling.
Altilium Metals is currently the only company in the UK recovering lithium, nickel and cobalt in a battery-ready cathode active material (“CAM”) from waste EV batteries at its Devon scale-up line. Altilium Metals has recently completed a feasibility study for the development of the UK’s only planned EV battery recycling facility creating low-carbon CAM, to be located in Teesside. The plant will have the capacity to process scrap from over 150,000 EVs per year, producing over 20% of the UK-planned CAM by 2030, making it one of the largest projects in the region.
Altlium Metals CTO, Dr Christian Marston, commented:
“Marubeni is a respected leader in the battery material industry, and we are excited to collaborate with them on our journey to develop a UK circular economy for critical battery minerals. Their strategic support will accelerate our growth as we look to scale up our best-in-class recycling technology and build the infrastructure for us to get to net zero.”
Altlium Metals CEO, Kamran Mahdavi, commented:
“We look forward to working with Marubeni to give the UK energy security and develop sustainable, low-carbon sources of technology metals needed for a green energy future in the UK and a sustainable transport sector.”
The collaboration will leverage the expertise, resources and market presence of both companies to drive innovation, enhance competitiveness and achieve sustainable growth in the battery recycling sector. This will include working together to secure the supply of feedstock (including black mass, end-of-life batteries and Gigafactory scrap), as well as further development and scaling of Altilium Metals proprietary technology to produce CAM from electric vehicle battery scrap.
Marubeni will also explore the possibility of pursuing synergies with its existing assets, such as trading expertise of battery materials, renewable energy supply and energy management, and the supply of necessary chemical reagents for the recycling process and mobility business.
Marubeni has been involved and grown its presence in the battery material industry since 1985. In recent years, Marubeni has been actively involved in the battery recycling business following its investment into the U.S. recycling market. Under its Mid-Term Management Strategy GC2024, Marubeni has set out its green strategy and aspirations to become a forerunner in green business. Through this collaboration, Marubeni will continue to build a sustainable supply chain of critical metals, which are essential for transitioning to a decarbonized society.
About Altilium Metals
Altilium Metals is a UK-based clean tech group that will reshape the UK and European automotive supply chain by offering high volume, domestic and low carbon sources of cathode and anode materials from recycling waste streams already in circulation, such as mining waste and end-of-life batteries.
In 2022, the company opened its Electric Vehicle Battery Technology Centre in Devon to deepen and strengthen its competitive edge in the recycling of lithium-ion batteries. The scale-up processing line will provide the company with data to make informed decisions on materials handling, scalability and product quality at its planned Teesside recycling plant. It also owns a SX-EW hydrometallurgical plant on the largest copper mine waste resource in Eastern Europe and is currently developing the facility to recycle battery waste from 24,000 EVs starting end of 2023.
For more information, go to www.altilium-metals.com