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Altilium, a Teesside-based clean technology startup, has raised £4m in a Series B round led by Marubeni Corporation. Founded by Kamran Mahdavi and Christian Marston, the company focuses on creating a sustainable circular economy for lithium-ion battery materials.
The funding will support the development of the UK’s largest EV battery recycling plant in Teesside, including engineering studies, land acquisition, planning, and team recruitment. Altilium’s technology recovers over 95% of critical metals from end-of-life EV batteries, reducing costs by up to 20% and cutting greenhouse gas emissions by up to 74%, advancing the UK’s drive towards net zero and a domestic EV supply chain.
