February 2025: Lithium Salvage (“Li-Sal”) UK Limited has secured significant funding to scale production in a new facility in Sunderland, Tyne & Wear.
Li-Sal was advised by NorthEast Capital LLP and the investment round led by Venture Sunderland. Additional investment is from Sixthwave Ventures, Gaspara Asset Management, NPIF II - Maven Equity Finance, which is managed by Maven as part of the Northern Powerhouse Investment Fund II (“NPIF II”) and business angel investors from across the UK.
About Li-Sal: Li-Sal’s proprietary and scalable refining process is a breakthrough in the climate friendly recovery of valuable materials from waste Lithium-ion batteries including Lithium, Manganese, Cobalt, and Nickel. The recovered materials will be sold through Li-Sal’s metals trading partners including Pennine Energy. With raw material shortages and environmental pressures driving up costs, Li-Sal’s sustainably recovered materials offer a solution for industries seeking economic resilience, environmental compliance and end-product differential.
Partnerships: Li-Sal’s progress continues to be fuelled by a £940k Innovate UK grant received in 2023, which supports its collaborations with Teesside University, the Centre for Process Innovation, GAP Group Northeast, Pennine Energy, and 6 Engineering.
Li-Sal wishes to thank the team at Sunderland City Council for supporting Li-Sal’s mission to enhance the region’s industrial & workforce agendas and the UK’s circular economy.
Simon Robeson, Chairman and Founder said “Today’s funding announcement is a 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-Sal has developed a proprietary process for recycling waste lithium-ion battery materials. Our innovative, sustainable solution reduces the production of new waste streams and enables the reuse of valuable materials within the UK, eliminating the need for overseas shipping.
Tom O’Neill, Investment Manager Venture Sunderland said: “We are extremely pleased to lead this round of investment in Lithium Salvage as the second deal from our Venture Sunderland Fund. Lithium Salvage are tackling a major environmental issue, whilst establishing a pioneering household battery recycling facility in the city that builds on the region’s strengths in battery technology and electrification. We look forward to working with them to achieve this vision”.
Darren Shaw, Sixthwave Venture Partners said: “It was evident from our early discussions that this venture has enormous potential and is backed by a great management team. We’re really pleased to add Li-Sal to our growing portfolio of exceptional start-ups”.
Gaspara Asset Management: John Bell, Co-Founder said: “Gaspara is delighted to work with the Li-Sal team as they commercialise their Li-Bat waste materials refining process. With its experienced team and world-class academic and commercial partners, the company is set to make its mark in the emerging green economy of the North East.” Peter Coates, CEO said: “As a specialist investment firm, we support early-stage companies with advanced solutions to renewables, clean tech, and energy transition initiatives in the UK. We are proud to be working with such esteemed investment partners in supporting the Li-Sal team.
Michael Dickens, Investment Manager Maven Capital Partners said: “We’re delighted to support Li-Sal with its plans to commercialise a UK refinery for waste Li-Bat materials. Simon and the team have built an impressive business and we look forward to supporting them as they seek to operate the UK’s first end to end household appliances lithium-ion battery recycling facility based in Sunderland.”
Sarah Newbould, Senior Manager at British Business Bank said: “Innovative organisations that contribute to the green economy are exactly the type of businesses that NPIF II aims to empower through making finance more accessible to Northern entrepreneurs. This investment demonstrates how funding can generate a wider positive impact beyond business and create a more sustainable future for everyone.”
Li-Sal Collaboration Partners:
Frank Millar, CEO, Centre for Process Innovation said: “CPI is delighted to collaborate with Lithium Salvage on this innovative Li-ion recycling project. Their advanced approach to recovering essential materials like Nickel, Manganese, Cobalt, and Graphite from batteries and electronic waste represents a significant step in sustainable manufacturing.
This partnership exemplifies our joint commitment to innovative solutions for key environmental challenges, aligning with our goal of advancing sustainable technology for a better future.”
Professor Stephen Cummings, Pro-Vice-Chancellor Research and Innovation Teesside University said: “Teesside University is delighted to be working with Lithium Salvage to commercialise a climate friendly process for the recycling of Li-Batteries. We do a great deal of work in this space and collaboration is key in projects such as this which will have positive benefits on our environmental and sustainability objectives.”
Peter Moody, Group CEO GAP Group Northeast said: “As a fervent supporter of innovative ventures, I am confident in expressing my belief that Lithium Salvage is poised for unparalleled success, making it an excellent choice for potential investors or collaborative partners. From the outset, it became evident to me that LS is not merely a business, but a dynamic force propelled by a visionary team dedicated to pushing boundaries and to shape what is an infant sector of industry.”
ABOUT:
Venture Sunderland: Venture Sunderland provides investment for ambitious, high-growth companies at all stages. The fund has been established to invest in companies that will catalyse the economic growth and prosperity of the Sunderland city region. Venture Sunderland is primarily focused on businesses in technology, advanced manufacturing, the creative sector and green industries that are focused on growth and creating high-quality, well-paid jobs in the city region. Sunderland is a leading digital and creative hub, nationally recognised as a Smart City with an automotive sector that is leading the UK’s switch to electrification. One of the key aims of Venture Sunderland is to accelerate the city region’s development as an innovation hub for the wider north of England. https://northstarventures.co.uk/venture-sunderland-fund
Sixthwave Ventures: Seeks out exceptional start-ups, led by outstanding founding teams that have the potential to truly disrupt the space in which they operate. It deploys a ground-breaking investment process to identify, reward and support exceptional talent. Sixth Wave typically provides the first monies in and de-risk the round for follow-on investors. https://sixthwave.ventures
Gaspara Asset Management: A specialist asset manager, with expertise in Commodity and Energy Transition investment. Based in York and run by a team of commodity traders and financiers with proven global expertise, we offer investment opportunities in both liquid and patient capital across clean energy, renewables, and energy transition opportunities. https://gaspara.co.uk/
GAP Group Northeast: Set up in 2005 to provide services to the newly implemented European Waste Electrical Electronic Equipment (WEEE) directive. We process electrical waste of all kinds, including fridges, small domestic appliances, vapes, batteries, lighting and more. We're one of the UK’s most trusted and efficient collectors of electrical waste from Civic Amenity sites. Being an established and Approved Authorised Treatment Facility (AATF) and licensed waste carrier, we are committed to the protection of the environment through our activities and those of our client and supply chain. https://gapgroupuk.com/
NorthEast Capital: Specialises in raising scale-up capital for ClimateTech developers through its local, national and international financial, industrial and governmental networks. https://www.northeastcapital.uk.com/
Maven Capital Partners UK LLP: Maven Capital Partners is one of the UK’s leading private equity firms, specialising in investments in high-growth British companies. With a focus on innovation and value creation, Maven partners with visionary entrepreneurs to build market-leading businesses, supporting a range of transaction types, including management buyouts, growth capital, buy and build projects, equity value release and pre-IPO financing. www.mavencp.com
Northern Powerhouse Investment Fund II: Operated by the British Business Bank, the Northern Powerhouse Investment Fund II (NPIF II) provides a mix of debt and equity funding. NPIF II will offer a range of commercial finance options with smaller loans from £25k to £100k, debt finance from £100k to £2m and equity investment up to £5 million. It works alongside the Combined Authorities, Local Enterprise Partnerships (LEPs), and Growth Hubs, as well as local intermediaries such as accountants, fund managers and banks, to support the North’s smaller businesses at all stages of their development.
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