July 6, 2023: Altilium Metals said today it had signed a non-binding memorandum of understanding with Marubeni Corporation for a lithium ion battery recycling partnership.
The companies plan to develop an EV battery recycling businesses in the UK and Europe — including creating a UK supply chain of end-of-life lithium batteries.
Altilium Metals claims to be the only company in the UK recovering lithium, nickel and cobalt in a battery-ready cathode active material from waste EV batteries at its scale facility in Devon.
The firm said it recently completed a feasibility study for the potential development of an EV battery recycling facility in northeast England with the capacity to process scrap from more than 150,000 EVs per year and producing more than 20% of the UK’s expected CAM (cathode active material) demand by 2030.
Altilium CEO Kamran Mahdavi said the Marubeni partnership will also cover work to secure the supply of feedstock including black mass and gigafactory scrap as well as further developing Altilium’s proprietary CAM technology.