Altilium Metals and Marubeni sign non-binding MOU
UK battery materials and recycling company Altilium Metals and the Japanese trading and investment group Marubeni want to cooperate on recycling electric vehicle batteries in the UK. The two have signed a non-binding memorandum of understanding (MOU) to that extent.
Under the framework, the partners will look into developing EV battery recycling businesses, including a supply chain of end-of-life lithium-ion batteries for recycling. They will work together to secure feedstock supply, such as black mass, end-of-life batteries and Gigafactory scrap.
“Marubeni is a respected leader in the baQery material industry, and we are excited to collaborate with them on our journey to develop a UK circular economy for critical baQery minerals,” says Altilium Metals CTL Christian Marston. “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.”
Altilium Metals is planning an EV battery recycling plant in Teesside in northeast England. It can process scraps from more than 150,000 EVs per year, “producing over 20% of the UK planned CAM by 2030.” According to its own account, Allium Metals 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.
Marubeni has been involved in the batters materials industry since 1985 and started investing in recycling in the US in recent years. It wants to become a “forerunner in green business”.
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