Led · Grant · Apr 2026

Altilium Clean Technology focuses on commercial-scale recycling of end-of-life electric vehicle batteries to recover battery-grade materials such as nickel mixed hydroxide precipitate, lithium sulphate, and graphite. The company is developing the ACT3 facility in Plymouth, Devon, which is shovel-ready and aims to process up to 24,000 EV batteries per year, with permitting underway. Altilium plans a follow-on ACT4 facility to expand capacity to handle up to 150,000 batteries annually and to host the UK’s only production of cathode active materials. The business expects the ACT3 project to create about 70 high-value clean technology jobs in the South West of England. Its recent capital injection is an £18.5 million government grant from the DRIVE35 Scale-Up Fund, intended to accelerate scale-up of its recycling capabilities and support a domestic circular battery materials supply chain.

Led · Equity · Apr 2026

Founded in 2023 as a collaborative study between Prodrive Advanced Technology and Astheimer Design, ELM Mobility has become a standalone UK business focused on creating highly efficient last-mile delivery vehicles. The company has developed a compact demonstrator and is now entering an optimisation phase ahead of planned customer trials in 2027. ELM aims to reduce delivery costs, emissions and urban congestion through its purpose-built electric vehicle and supporting digital ecosystem. Its current financial position includes £10 million of UK government DRIVE35 funding as part of a broader £20 million development programme. The programme brings together partners across engineering, manufacturing and electrification, including Barclays Climate Ventures, Toyota Motor Manufacturing UK, Nyobolt, Electrified Automation and CENEX. ELM positions itself to progress from concept to commercialisation with the support of these industry collaborators.

Led · Equity · Apr 2026

Weardale Lithium is developing a geothermal lithium project that aims to extract lithium from underground geothermal waters in the North Pennine Orefield near Weardale, County Durham. The company plans to deploy low-carbon direct lithium extraction (DLE) integrated with onsite conversion to battery-grade lithium carbonate. Current activities funded by the DRIVE35 award focus on a detailed Feasibility Study, exploration to define fracture networks, and refinement of a 3D geological model to optimise future wellfield development. The Feasibility Study is intended to de-risk commercial deployment and inform long-term production strategy to scale toward cash-flow-positive operations. Weardale positions the project as contributing to regional employment, supply-chain engagement, and the UK’s critical minerals and battery materials objectives. The article does not provide revenue, user, or prior funding metrics.

Participated · Grant · Feb 2026

Thema is developing an AI-driven platform that continuously maps and updates software market structures, enabling private equity firms to assess portfolio risk, identify adjacencies, and plan expansion strategies with greater accuracy. Built on proprietary techniques created by co-founder Dr. Dimo Angelov, the system ingests web-scale data to generate versioned representations of companies and their competitive landscapes. By replacing fragmented consulting reports and static sourcing tools, the product delivers a real-time view of how markets cluster and evolve, highlighting opportunities and competitive threats that may otherwise be overlooked. The solution has been built in collaboration with tier-one PE firms and within a UK government-backed program run alongside the University of Cambridge. With fresh capital, Thema intends to accelerate R&D, grow its commercial team, and onboard additional customers. The company is headquartered in London. No revenue or user metrics were disclosed in the articles.

Participated · Equity · Aug 2025

Eelpower Energy is a business created from grid‑scale storage developer Eelpower Limited to develop, own and operate battery energy storage systems. The company has secured GBP 500 million ($675 million) of public and private sector investment to fund UK projects. The investment consortium is led by international investor Equitix and joined by Australian pension fund Aware Super and the United Kingdom’s National Wealth Fund (NWF). The NWF has committed to invest up to GBP 200 million in Eelpower Energy. An Equitix spokesperson confirmed the investment is for UK projects only. Eelpower Energy aims to deliver over 1 GW of new battery storage projects for the UK grid.