£1.7m investment round led by to develop pioneering refinery for waste Lithium-ion household battery materials in Sunderland.
Summary
Northstar Ventures has led a \xa31.7m investment round, via its Venture Sunderland Fund, into Lithium Salvage, who plan to build a pioneering refinery for waste Lithium-ion household battery materials based in Sunderland.The volume of waste generated from Lithium-ion household batteries used in items such as power tools, mobile phones and vacuum cleaners is already significant and likely to grow much further. We look forward to working with them to achieve this vision.Simon Robeson, Chairman and Founder said: Todays funding announcement is a further vote of confidence in our vision, our technical capabilities and our mission to create a scalable and ecologically sound supply chain for recycled Lithium-ion battery materials.Duncan Noble, CEO said: Li-Sals proprietary process delivers a sustainable, market-leading solution to the escalating UK need to recycle waste Lithium-ion batteries without creating other waste streams or shipping these valuable metals abroad.Michael Dickens, Investment Manager Maven Capital Partners said: Were delighted to support Li-Sal with its plans to commercialise a UK refinery for waste Li-Bat materials. Our particular focus is on those organisations who provide solutions to societal and environmental issues on a regional, national and even global scale.Our investment managers have a wealth of expertise supporting new and growing businesses. They bring commercial and operational knowledge to the table combining everything from PhDs, MBAs, international careers and finance to micro-business experience.Northstar Ventures Limited is authorised and regulated by the Financial Conduct Authority. For further information on Li-Sal, see Lithium SalvageMaven Capital Partners is one of the UKs leading private equity firms, specialising in investments in high-growth British companies.