Technology

SQM LITHIUM VENTURES COMPLETES ALTILIUM’S USD 12M SERIES A FUNDING THROUGH FOLLOW-ON INVESTMENT

Published

7 months ago

February 21, 2024

PLYMOUTH, England , Feb. 21, 2024 /PRNewswire/ — SQM Lithium Ventures is proud to announce its follow-on investment of USD 9.43 million in Altilium, a UK-based clean technology group focused on supporting the energy transition to net zero, bringing its total investment to USD 12 million.

The investment completes Altilium’s Series A funding round and marks the largest investment to date for SQM Lithium Ventures, the corporate venture arm of the lithium business of Sociedad Quimica y Minera de Chile (SQM), one of the world’s leading producers of battery-grade lithium.

The additional funding follows a year of strong progress in the scaling up of Altilium’s proprietary battery recycling technology and underscores both companies’ commitment to developing a circular economy for sustainable and low carbon battery materials.

SQM Lithium Ventures made an initial investment of USD 2.57 million in Altilium last year. Since then the company has hit a number of key development milestones, including the expansion of its UK recycling facilities, enhancement of its proprietary EcoCathode™ hydrometallurgical process and strengthening of its senior management team.

Going forward, the additional funding will accelerate the scale-up of Altilium’s UK and European activities, paving the way for the roll-out of the company’s full battery circularity customer offering, encompassing zero-carbon EV battery collection, black mass recycling and chemical refining direct to cathode active material (CAM).

Key developments for 2024 will include:

Construction of Small-Commercial Plant: The 18,000-square-foot facility in Plymouth, Devon is scheduled to begin operations mid 2024, processing significant volumes of battery precursors and cathode active materials for qualification with automakers and cell manufacturers.

Battery Recycling Stations (BRS): The raised capital will be instrumental in building the first Battery Recycling Station to efficiently transform discarded EV batteries into high-quality black mass, a crucial feedstock for Altilium’s chemical refineries.

Commencement of European Hydrometallurgical Refining: Altilium are progressing with the retrofit of an existing plant in Eastern Europe, with plans to process 8,000 metric tons of black mass to EV battery intermediates later in 2024.

Finalisation of plans for the UK’s largest EV battery recycling facility: The planned Teesside plant will have capacity to process battery waste from 150,000 electric vehicles. This facility aims to meet 20% of the UK’s Cathode Active Materials (CAM) requirement by 2030.

Altilium President & COO, Dr Christian Marston, commented:

“We are delighted to continue our relationship with SQM and excited about the journey ahead as we build a UK and European leader in battery recycling. We are immensely grateful for their belief in our business and our shared vision for achieving the lowest carbon footprint in battery raw materials.”

Altilium CEO, Kamran Mahdavi, commented:

“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.”

Carlos Díaz, CEO of the Lithium-Potasium Division of SQM, commented:

“The investment in Altilium gives SQM the chance to participate in the creation of a new industry: the recovery of critical minerals such as lithium, nickel, and cobalt from recycled batteries. This will allow us to add value to the new battery supply chain, while at the same time maintaining sustainable levels of resource consumption, water use and carbon footprint. SQM’s top priorities include attracting technical talent to the company and associating ourselves with the world’s most innovative startups, allowing us to maximize our impact in the industry.”

David Rousselle, Engineering Manager at SQM and member of Altilium’s board of directors, added:

“Lithium batteries have become an essential component of modern society, as they’re used in electric vehicles and electronic devices. Despite the importance of the circular economy, most lithium-ion batteries are still not recycled. In the US and EU, less than 1% of lithium-ion batteries are recycled, compared to 99% of lead-acid batteries. Given the growth in the electromobility market, lithium-ion battery recycling will be essential in the coming years. The investment in Altilium allows SQM to get ahead of the global recycling curve, doubling down on the company’s commitment to developing solutions for human progress and working toward economic, social, and environmental sustainability.”

In addition to providing capital investment, SQM Lithium Ventures also brings considerable experience in large-scale project delivery and a commitment to innovation and sustainability.

With substantial backing from UK Government Innovation grants, Altilium is leading the charge in the UK’s journey towards establishing a national champion for EV battery recycling. Altilium’s proprietary EcoCathode™ process converts old EV batteries and manufacturing scrap into domestic, sustainable, battery precursors, cathode active materials (CAM) and cathode precursor (p-CAM) for direct reuse in new batteries.

Recovering over 95% of crucial metals from old EV batteries will contribute to a UK domestic and sustainable supply of battery raw materials, reducing carbon emissions by over 50% and reducing the cost of cathode active material by more than 20% compared to conventional virgin mining practices.

About Altilium

Altilium is a UK-based clean tech group that will reshape the UK and European 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.

The company’s 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.

Altilium’s first mini-commercial plant is currently under construction in Plymouth while its planned Teesside plant will be one of the largest EV battery recycling facilities in Europe. The plant will have the capacity to process scrap from over 150,000 EVs per year, producing 30,000 MT of CAM, enough to meet around 20% of the UK’s expected needs by 2030.

More information is available at www.altilium.tech

About SQM Lithium Ventures

SQM Lithium Ventures, launched in December 2022, seeks to invest in growing companies solving challenges related to lithium, water, and electromobility. The up-to USD 40 million fund invests tickets averaging USD 3 million, plus follow-on investments, in companies across the globe, and also operates an acceleration program based in Antofagasta, Chile, for earlier-stage startups within the same three verticals. Parent company SQM is one of the world’s largest producers of lithium for use in electric vehicle batteries.

The fund has a global presence, with team members in North and South America, Europe, Asia, and Australia. After evaluating more than 500 companies and completing four investment committees to date, the fund is advancing rapidly in conversations with several of the most innovative companies in its verticals.

The selection process consisted of several months of diligence and meetings with the Altilium team, culminating with an investment committee with participation of SQM’s CEO, largest shareholders, and key company leaders. SQM plans to add value with its global presence and vast expertise in lithium value chains, as well as a role in the company’s board of directors.

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Technology

PEAC Institute Launches “24 Hour Pause for Peace: A Global Concert”

Published

43 mins ago

September 21, 2024

24 Hour Pause for Peace Will Be the Largest Peace Initiative Ever Worldwide, Unifying 96 Countries on Six Continents Through Music

MONTCLAIR, N.J., Sept. 21, 2024 /PRNewswire-PRWeb/ — On this International Day of Peace, PEAC Institute, part of the 2017 Nobel Peace Prize winning team, has launched “24 Hour Pause for Peace: A Global Concert,” the largest peace initiative ever organized worldwide through music.

“Now, we need companies, government entities, other nonprofits and donors who care about our cause for peace to join us in lifting up the biggest event of this generation.”

On October 4, 2025, this ground-breaking program will activate a massive network of youth ensembles that spans 96 countries and territories across six continents and host two 24-hour commercial festivals featuring some of the biggest acts in music and entertainment. This extraordinary day-long event will be live-streamed globally, allowing millions to participate simultaneously.

“It has been 40 years since Live Aid and We Are the World historically unified and changed the world through music,” said Rebecca Irby, president and CEO of PEAC Institute. “With our planet riddled with post-pandemic fatigue, climate chaos, unsettling wars and more, we believe it is time to create a new trajectory for humanity by inviting everyone around the globe to a 24 hour pause for peace to enjoy the sounds of music and feel the transformative power of human connection,” Irby explained.

Additionally, 24 Hour Pause for Peace plans to amass more than 100 million ambassadors to sign an appeal to the United Nations calling for a 24 hour ceasefire during the children’s concerts and commercial music events. All countries are welcome to participate with no exceptions. One of Pause for Peace’s core beliefs is everyone has the right to be equally respected and heard, particularly in collectively calling for peace.

“Achieving this ambitious global endeavor requires the support and participation from the most impactful brands, organizations, and influential leaders, artists and celebrities,” said Jennifer McKenna, 24 Hour Pause for Peace CEO.

Pause for Peace is a $165 million global initiative. Currently, it is in its first phase of raising seed capital through consumer brand-aligned sponsorships and private donors. Funding for the program is tax-deductible through PEAC’s 501(c)(3) status.

“We have assembled an exceptional executive team of change agents in entertainment, production, consumer marketing, charitable development and global security to make this extraordinary, worldwide peace event happen.” McKenna added. “Now, we need companies, government entities, other nonprofits and donors who care about our cause for peace to join us in lifting up the biggest event of this generation.” To become involved in 24 Hour Pause for Peace: A Global Concert as a sponsor, partner or donor, sign up to be an Ambassador, or for more information, go to www.24hourpauseforpeace.org.

About PEAC Institute

PEAC Institute is a 501(c)(3) nonprofit organization based in the United States. PEAC stands for peace, education, art and communication. It was formed in 2016 through a campaign with partner organization, International Campaign to Abolish Nuclear Weapons (ICAN), which garnered a 2017 Nobel Peace Prize. PEAC now holds special consultative status with the Economic and Social Council of the United Nations and has a global presence working with countries and territories worldwide to reach the most marginalized youth through art and communication activities to help them explore and express. For more information on PEAC Institute, go to www.peacinstitute.org.

Media Contact

Chadwick Boyd, Pause for Peace, 1 4046060611, chadwick@24hourpauseforpeace.org, www.24hourpauseforpeace.org

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SOURCE Pause for Peace

Technology

Global Times: China opens 12 nuclear research facilities to global scientists

Published

2 hours ago

September 21, 2024

The involved facilities span areas such as basic nuclear research, isotope production, nuclear environment simulation, equipment testing, and radioactive waste treatment and disposal.

VIENNA, Sept. 21, 2024 /PRNewswire/ — China will open 12 nuclear research facilities and testing platforms to international scientists and institutions to enhance global cooperation, a senior Chinese official said here on Monday.

These include the China Advanced Research Reactor, the new-generation tokamak device Huanliu-3, and the Beishan Underground Research Laboratory, Liu Jing, vice chairman of the China Atomic Energy Authority (CAEA), said at a meeting on the sidelines of the International Atomic Energy Agency’s (IAEA) annual general conference.

The facilities span areas such as basic nuclear research, isotope production, nuclear environment simulation, equipment testing, and radioactive waste treatment and disposal.

Monday’s meeting, themed “Share for Development,” was organized by the CAEA to promote international cooperation in nuclear technology research and development, as China marks the 40th anniversary of its accession to the IAEA.

Yu Jianfeng, chairman of China National Nuclear Corporation, said at the event that the company aims to deepen cooperation with the IAEA and expand international collaboration. He expressed hope that opening China’s nuclear research facilities will contribute to advancing nuclear technology globally.

IAEA’s Deputy Director General Mikhail Chudakov commended China’s remarkable achievements in nuclear energy development and highlighted the long-standing, fruitful relationship between the IAEA and the CAEA.

Welcoming China’s decision to open up more of its nuclear research and development facilities, Chudakov said the move will further strengthen the agency’s technical capacity to support its member states.

On Monday evening, the CAEA and China’s permanent mission to the United Nations (UN) and other international organizations in Vienna jointly held a reception at the UN headquarters in Vienna to celebrate the 40th anniversary of China’s accession to the IAEA. More than 200 participants, including IAEA representatives and foreign envoys to Vienna, attended the event.

Li Song, China’s permanent representative to the UN and other international organizations in Vienna, said at the reception that China and the IAEA have expanded practical cooperation and jointly promoted the development of nuclear energy over the past 40 years.

China, he said, will continue to strengthen collaboration with the IAEA and its member states to address emerging challenges in international security, safeguard the global non-proliferation regime, and promote the use of nuclear energy and technology for the benefit of the Global South.

At the reception, Liu, Li and IAEA Director General Rafael Grossi jointly unveiled a bronze statue of Qian Sanqiang, a renowned Chinese nuclear physicist and one of the founders of China’s nuclear industry.

The statue, donated by China, will be permanently displayed at the IAEA headquarters, alongside sculptures of Polish-French physicist Marie Curie and other prominent figures who have made significant contributions to the peaceful use of nuclear energy.

Contact: xutianshu@globaltimes.com.cn

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SOURCE Global Times

Technology

The Ar-King of Spirits: Ed Arking’s Impact on the Liquor Industry

Published

3 hours ago

September 21, 2024

In the interest of providing luxury liquors in a convenient and stress-free format, Served Neat was born. When asked about his intentions for the company, Ed states, “My goal with Served Neat is to create a one-stop shop where customers can easily discover these rare gems.”

MOORESTOWN, N.J., Sept. 21, 2024 /PRNewswire-PRWeb/ — Served Neat is an emerging online platform with a curated selection of some of the world’s most popular luxury spirits. The website offers daily flash deals that highlight a variety of high-end international brands including Pappy Van Winkle, Buffalo Trace, Clase Azul, and more.

“While there are websites selling spirits, none have the decades of experience that we bring from WTSO. Served Neat will offer not only incredible bottles but also the best customer service in the industry.”

Ed and Joe Arking, the father-son team behind the concept of Served Neat, have decades of experience hand-selecting and supplying sought-after liquors. Ed Arking, CEO of New Jersey’s Roger Wilco, grew up in the world of wine and spirits and formed his own business aspirations.

“Growing up, I watched my father navigate and succeed in the ever-evolving wine and spirits industry,” Ed explains. “While I always aspired to create something similar, I knew I needed to wait for the right moment.” Ed has gone on to manage his own liquor store and lead projects for up-and-coming brands, such as the vodka-infused and non-carbonated Smooth Water.

As he evolved in his career, Ed discovered the perfect time to make his lifelong vision a reality. He recalls, “I noticed a gap in the market—especially for whiskey and tequila. These categories have surged in popularity, making it difficult for the everyday consumer to find those elusive sought-after allocated bottles.”

When it comes to Served Neat, quality and knowledge is key. Ed adds, “While there are websites selling spirits, none have the decades of experience that we bring from WTSO. Served Neat will offer not only incredible bottles but also the best customer service in the industry.”

Served Neat is the sister company to WTSO and The Wine Market, two online platforms dedicated to sourcing and distributing top-notch wines from every corner of the globe.

At The Wine Market, an online marketplace for the world’s most popular wine brands, convenience and quality are key. Each bottle in their curated collection is a testament to exceptional flavor and craftsmanship.

Since 2006, WTSO has enjoyed creating a unique wine experience and sharing it with new beginners and seasoned connoisseurs alike. Using an extensive network of wineries and wine makers, WTSO connects customers to thousands of brands from top wine appellations around the globe. The strong relationships they’ve formed within the wine world allow the business to deliver authentic and high-quality bottles to homes across the United States.

Wine and spirits lovers alike are invited to explore Served Neat, WTSO, and The Wine Market to find their next favorite bottle. Visit their websites to learn more about these one-of-a-kind online marketplaces!

Media Contact

Julie Blount, WTSO, 1 8669572795, marketing@wtso.com

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SOURCE WTSO