NPIF II - Maven Equity Finance invests in Lithium Salvage

Press release 03 February 2025

Lithium Salvage (Li-Sal) has raised £1.7 million to develop a pioneering refinery facility for waste lithium-ion household battery materials in Sunderland. Part of the funding round was provided by NPIF II - Maven Equity Finance, which is managed by Maven as part of the Northern Powerhouse Investment Fund II (“NPIF II”).

image of the team at lithium salvage

Lithium Salvage (Li-Sal) has raised £1.7 million to develop a pioneering refinery facility for waste lithium-ion household battery materials in Sunderland. Part of the funding round was provided by NPIF II - Maven Equity Finance, which is managed by Maven as part of the Northern Powerhouse Investment Fund II (“NPIF II”).

Li-Sal has developed a proprietary, scalable and environmentally sustainable refining process to recover 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. The company has ambitious plans to be the only end-to-end household Lithium-ion battery recycler in the UK by 2026.

The latest funding round will allow the company to invest in the scale up of the production process and support the expansion of its Sunderland site.

Simon Robeson, Chairman and Founder said:

Today's 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-Sal's 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:

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.

The £660m Northern Powerhouse Investment Fund II (NPIFII) covers the entire North of England and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.

NPIF II - Maven Equity Finance can provide investment of up to £5 million to support ambitious earlier and later stage businesses across the North East of England. If your business, or the business you advise, is looking for an equity investment as a solution to fund future growth, get in touch here

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