Altilium Metals, the UK-based clean technology start-up, has successfully completed its first crowdfunding campaign. Funds will be used to support the build of its Electric Vehicle Battery Recycling Technology Centre and work being carried out by Hatch Group on its recently announced recycling facility, the largest planned in the UK. Located in Teesside, the mega-scale recycling plant will transform battery waste from 150,000 EVs a year, providing a secure and sustainable supply of the critical metals needed to support the growing production of EVs in the UK and Europe.
Via online private investment platform Seedrs, Altilium Metals exceeded its investment target by 110%. The Devon-based company, which has already secured over £3m in UK government backing for its proprietary recycling technology, has raised £786,005 in new investment from 410 investors.
“The success of this campaign shows the interest from the retail investment community in a focused business supplying the critical metals such as lithium and cobalt needed for the energy transition, through the recycling of waste, such as old electric vehicle batteries and mine tailings, promoting a circular economy,” said Altilium Metals Co-founder, Dr Christian Marston. “Our first crowdfunding campaign allowed us to interact with retail investors for the first time and is the first step in a transition from a private to a public company. We think it speaks volumes in terms of optimism from our community for our business model supporting the supply of rare technology metals in a sustainable way.”
With production of electric vehicles in the UK forecast to surpass one million cars by 2030, developing a circular economy for critical battery minerals will be vital to meet the growing demand for them. By recovering critical metals from existing domestic waste streams, Altilium Metals is helping to bring energy security to the UK and Europe, as well as reducing carbon emissions from the mining of virgin raw material and preserving the natural environment.
