At Altilium Clean Technology we are proud to lead the charge in the UK’s journey towards establishing a national champion for EV battery recycling. As we approach the end of 2023, we reflect on our operational achievements and the significant strides made in scaling up EV battery recycling to give domestic and sustainable battery raw materials for a clean transport future.

• Secured Series A Funding: This first significant round of funding completed with SQM Lithium Venture has been a pivotal achievement. This represents a market leading cornerstone investor and will add significantly to the valuation of the business through their global brand, project delivery experience and capital investment.

• UK first Circular Battery Model: Our dedication to creating a comprehensive battery circularity model for the UK stands as a unique customer offering. This model ensures zero-carbon EV battery collection, black mass recycling and chemical refining, resulting in battery-ready Cathode Active Material (CAM) for reuse in an EV supply chain.

• Innovation Awards & UK Technological Advancements: Winning additional UK Government Innovation Awards worth $3 million to scale-up of our proprietary “Eco-cathode” to CAM green processing technology. Altilium is the only company in the UK recovering cathode metals, including lithium from waste EV batteries. These recovered materials aren’t just recycled; they’re reengineered and upcycled to high nickel CAM. By upcycling, we could reduce the carbon in CAM by 50% compared to virgin materials and cost by 20%.

• Graphite Recovery Breakthrough: Commenced a development program with a European battery Anode manufacturer marks a significant breakthrough in recovering graphite for reuse in EV battery anodes, fully closing the loop in EV battery recycling.

• Robust Research & Infrastructure Development: Substantial investment in R&D and infrastructure expansion at our EV Battery Recycling Centre in Tavistock, Devon reflects our commitment to heavy investment in R&D to compete on a global scale. Our new and enhanced facilities, including a pilot scale solvent extraction line and analytical laboratory enables efficient scale-up of EV battery recycling operations.

• Small-Commercial Facility: Our 10,000-square-foot facility in Plymouth, Devon (ACT 2), scheduled to ramp up in early 2024, is poised to process significant volumes of CAM and battery precursors for qualification with OEM’s and cell manufacturers.

• Hydrometallurgical Refining Capacity Scale-up: We’re progressing with retrofitting a SX-EW plant in Eastern Europe (ACT 3) to process 8,000 MT of black mass to which EV battery intermediates later in 2024 and successfully completed a Feasibility Study for the UK’s largest EV battery recycling facility in Teesside, UK (ACT 4), with a capacity to process battery waste from 150,000 EVs. This facility aims to meet 20% of the UK’s Critical Raw Materials (CAM) requirement by 2030.

• Enhanced End-of-Life Battery and Production Scrap Collection Infrastructure: Our focus on expanding the collection infrastructure led to successful partnerships with automotive manufacturers, cell producers, scrap yards and recycling facilities.

• Market Validation: With a leading Automotive OEMs and their Tier 1 Cell producer, we initiated a joint technical development program aimed at achieving CAM qualification standards. This collaboration positions us as a key player in the sustainable raw material ecosystem, opening doors to new opportunities and further establishing our leadership in EV battery recycling.

• Commenced Maiden JORC statement at Europe’s Largest Copper Mine Waste Project: Covering 2,200 hectares in Bulgaria, this recycling initiative aligns with our commitment to a circular and low carbon economy. By processing historic mine tailings, we’re extracting valuable copper crucial for anode current collectors in EV batteries. This move will significantly support Europe’s future battery industry.

• Sustainable Practices & Employee Development: Our dedication to upholding environmental standards and promoting sustainability remains intrinsic to our organizational values. To reinforce these commitments, we’ve implemented new Environmental and ESG (Environmental, Social, and Governance) systems, leveraging the expertise and appointment of top-tier consultants. Simultaneously, our emphasis on fostering employee development has resulted in a substantial expansion of our skilled workforce, growing by over fivefold.

This year, we’ve achieved all key development milestones, propelling Altilium forward in revolutionising EV battery recycling in the UK and beyond. We are immensely grateful for the unwavering support of our stakeholders, partners, and dedicated team members, whose commitment has been instrumental in our achievements this year.

As we move into the new year, our focus remains steadfast on continuous innovation and sustainability in recycling old EV batteries, but also harness the potential in mine waste to recover critical minerals essential for advancing the energy transition towards a net-zero future.