Altilium Metals, a UK-based green technology group, signed a non-binding Memorandum of Understanding with Marubeni Corporation, Japanese trading and investment group. 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.
This will include the joint development of a UK supply chain of end-of-life lithium-ion batteries for recycling.
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, necessary chemical reagents for the recycling process and mobility business.
Altilium is currently the only company in the UK recovering lithium, nickel and cobalt in a battery-ready cathode active materials from waste EV batteries at its Devon scale-up line.
It has recently completed a feasibility study for the development of the UK’s only planned EV battery recycling facility creating low carbon and sustainable CAM, to be located in Teesside. The plant will have the capacity to process scrap from more than 150,000 EVs per year, producing more than 20% of the UK planned CAM by 2030, making it one of the largest projects in the region.
Marubeni has been involved and grown its presence in the battery material industry since 1985. Under its Mid-Term Management Strategy GC2024, Marubeni has set out its green strategy and aspirations to become a forerunner in green business.