The investment was made through its Transition Equity Investment Facility which funds “transition area” projects in their development and incubation stages.
Altilium was founded in 2020 and currently operates a demonstration plant for the recycling of lithium-ion batteries.
The technology company aims to build a large-scale commercial plant for the full in-house recycling of lithium-ion batteries, including from electric vehicles.
At the start of the year, Japanese trading and investment group Marubeni invested US$5 million (£4.02 million) into the company.
The investment will go to towards the next development stage of the technology group’s Teesside electric vehicle (EV) battery recycling facility.
This will include engineering studies, land acquisition, planning and permitting and the recruitment of the leadership team.
Mizuho has one of the largest customer bases in Japan alongside a global banking presence.
The bank explained the reason for its investment: “Mizuho recognises that being conscious of the interconnectedness of a wide range of themes is critical to achieving a sustainable society and economy.
“With international shortages and resource constraints becoming more severe, shifting to a circular economy is essential and of escalating importance worldwide, as it will also serve to address climate change and preserve natural capital.
“In light of this, Mizuho has positioned a circular economy as one of its focus areas for sustainable business. Together with Marubeni, Mizuho is supporting the growth of Altilium, in doing so contributing to the building of a lithium-ion battery circular supply chain.
“Through this investment, Mizuho will further expand its technical and industrial knowledge of lithium-ion batteries recycling and take on the challenge of developing concrete solutions to solve social issues.”
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