Funding Round attributes
Lithium Salvage, a UK-based company focused on lithium-ion battery recycling, has secured a £1.7 million investment in a funding round led by Northstar Ventures through its Venture Sunderland Fund. The funding also includes contributions from Sixth Wave Ventures, NPIF II - Maven Equity Finance, Gaspara Asset Management, and angel investors from across the UK. The investment will help scale up the company’s production process and support the expansion of its Sunderland site.
The company is aiming to become the UK’s only end-to-end recycler of household lithium-ion batteries by 2026. Lithium Salvage has developed an environmentally sustainable refining process that recovers valuable metals such as lithium, manganese, cobalt, and nickel from used batteries. These metals are then turned into salts, which can be sold through trading partners for reuse, contributing to a circular economy and reducing the environmental impact of battery waste.
Lithium-ion batteries, used in products like mobile phones, power tools, and vacuum cleaners, contain valuable materials that can be recycled to prevent environmental damage. However, the current recycling systems are often inadequate, with much of the waste being sent overseas for processing. The process developed by Lithium Salvage aims to address this gap by providing a local, sustainable solution for the growing volume of used lithium-ion batteries.
The funding will allow Lithium Salvage to further develop its proprietary process and increase its production capacity to meet the rising demand for battery recycling in the UK. The company is working closely with key collaborators such as Teesside University, the Centre for Process Innovation, GAP Group, and Pennine Energy to refine its technology and scale its operations.
Simon Robeson, chairman and founder of Lithium Salvage, expressed optimism about the company’s future, stating that the funding is a vote of confidence in their vision and technical capabilities. He highlighted the importance of creating a scalable and ecologically sound supply chain for recycled lithium-ion battery materials, particularly as the demand for sustainable battery solutions grows.
CEO Duncan Noble emphasized the significance of the company’s proprietary process, noting that it provides a sustainable, market-leading solution to the urgent need for recycling lithium-ion batteries in the UK. He pointed out that the process ensures valuable metals are recovered without creating additional waste streams, and that they will not have to be shipped abroad for processing.
Lithium Salvage’s goal is to play a central role in the UK’s efforts to create a closed-loop system for lithium-ion battery recycling, providing a reliable and eco-friendly method for dealing with used batteries while also securing access to critical materials needed for the production of new batteries. The company’s work aligns with broader efforts to reduce reliance on raw material imports and enhance the UK’s self-sufficiency in the energy transition.
