Altilium lands follow-on cash from SQM and Marubeni for UK's first battery refinery

What's the deal? Altilium Metals, a Plymouth-based battery recycler, has secured follow-on Series B funding from Chilean lithium producer SQMDealroom has a profile for this one. Try Dealroom → and Japanese trading house Marubeni CorporationDealroom has a profile for this one. Try Dealroom →. Both are existing backers reinvesting as the firm prepares to build the UK's first commercial refinery for critical battery materials.

Why now? The investment follows £18.5m in government grant funding awarded to Altilium through the DRIVE35 programme. The combination of strategic capital and state support positions the company to move from development toward commercial-scale production.

What's the endgame? Altilium is building out domestic capacity to recycle and refine battery materials — a supply chain the UK currently lacks. The planned refinery would be the country's first commercial facility of its kind.

Who's backing it? SQM and Marubeni have deep ties to Altilium. SQM led the firm's $12m Series A round, and Marubeni joined the subsequent Series B. Their continued involvement signals confidence from two major players in the global battery materials trade.

The signal: Strategic investors from lithium production and commodity trading are putting money into domestic recycling capacity, reflecting a push to localise critical mineral supply chains. For the UK, a home-grown refinery marks a step toward reducing reliance on imported battery materials.

Read more: thebusinessdesk.com

Image credit: oakridgelabnews