A £1.7m investment will help establish a battery recycling plant in Sunderland, aiming to boost UK self-sufficiency and tackle waste from lithium-ion batteries.
Lithium Salvage is leading the project. They want to turn waste from lithium-ion batteries into reusable materials. This is important for the UK’s goal of being more self-sufficient.
Right now, a lot of battery waste from things like phones and power tools is sent abroad for processing. The UK doesn’t have enough capacity to handle it all.
These batteries have valuable metals like lithium and cobalt. Lithium Salvage has a green method to recover these metals and sell them.
The company aims to be the UK’s main recycler of household lithium-ion batteries by 2026. The recent funding round was led by Northstar Ventures, with support from other investors.
This investment will help them grow and improve their Sunderland facility. They’ve also received backing from various partners in the past.
Simon Robeson, the chairman, sees this funding as a vote of confidence in their mission. CEO Duncan Noble believes their process is a sustainable solution for recycling batteries.
Tom O’Neill from Northstar Ventures is excited about supporting Lithium Salvage. He believes they are addressing a big environmental issue while building a unique recycling facility.
Michael Dickens from Maven Capital Partners is also on board, looking forward to helping them establish the first UK facility for recycling household lithium-ion batteries.
Sarah Newbould from the British Business Bank emphasizes the importance of supporting green businesses. She believes this investment will help create a more sustainable future for everyone.
