Altilium, a London, UK-based clean technology group focused on supporting the energy transition to net zero, raised $9.43M in Series A funding.
The round, which brought the total amount to $12M, saw participation from SQM Lithium Ventures.
The company intends to use the funds to expand operations and development efforts.
Led by CEO Kamran Mahdavi, Altilium is a clean tech group that works for the automotive supply chain by offering high volume, low carbon domestic sources of cathode and anode materials from recycling waste streams already in circulation, such as lithium scrap. Its proprietary EcoCathode™ process converts end-of-life EV batteries and manufacturing scrap into domestic, sustainable, battery precursors, cathode active materials (CAM) and cathode precursor (pCAM) for direct reuse in new batteries.
Commenting on the news, Kamran Mahdavi said: “This round of funding with SQM Lithium Venture has been a pivotal achievement for Altilium and reflects the significant strides the business has made over the past 12 months. We look forward to building on these achievements with the support of our partners and our dedicated team.”
FinSMEs
26/02/2024