Technology Minerals PLC Commissioning Complete at Li-ion Recycling Plant (9086N)
28 September 2023 - 4:00PM
UK Regulatory
TIDMTM1
RNS Number : 9086N
Technology Minerals PLC
28 September 2023
The information contained within this announcement is deemed to
constitute inside information as stipulated under the retained EU
law version of the Market Abuse Regulation (EU) No. 596/2014 (the
"UK MAR") which is part of UK law by virtue of the European Union
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28 September 2023
Technology Minerals Plc
("Technology Minerals" or the "Company")
Commissioning Phase Completed at Li-ion Battery Recycling
Plant
Commencement of Commercial Operations
Technology Minerals Plc (LSE: TM1), the first listed UK company
focused on creating a sustainable circular economy for battery
metals, is pleased to announce its 48.25% owned battery recycling
business, Recyclus Group Ltd ("Recyclus"), has successfully
completed the commissioning phase at the UK's first industrial
scale lithium-ion ("Li-ion") battery recycling facility in
Wolverhampton, West Midlands.
As part of completing the commissioning phase, Recyclus
installed bulk liquid nitrogen tanks and the company has also
received the first fill of liquid nitrogen, which facilitates
continuous processing at the plant. Recyclus is now focussing on
ramping up Li-ion battery processing through the plant to achieve a
run rate of 8,300 tonnes per annum based on a single shift and has
a permit to expand this to process up to 22,000 tonnes per
annum.
The plant processes end-of-life Li-ion batteries to produce
black mass, which contains critical battery metals that can be
reprocessed and sold back into the battery supply chain, in
addition to other saleable materials.
Robin Brundle, Chairman of Technology Minerals, said: "We are
pleased to announce that Recyclus has successfully completed the
commissioning phase at our Li-ion battery recycling plant. This
milestone allows us to commence commercial operations and is
another step towards the realisation of our planned processing
rate. By using cutting-edge recycling solutions at our facility, we
aim to tackle the challenge of discarded batteries, playing a
pivotal role in the electrification transition and forging a
sustainable circular economy in the UK."
Enquiries
Technology Minerals Plc
Robin Brundle, Executive Chairman c/o +44 (0) 20 4582 3500
Alexander Stanbury, Chief Executive
Officer
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Oberon Investments Limited
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Nick Lovering, Adam Pollock +44 (0)20 3179 0535
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Gracechurch Group
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Harry Chathli, Alexis Gore, Rebecca
Scott +44 (0) 20 4582 3500
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Technology Minerals Plc
Technology Minerals is developing the UK's first listed company,
providing a sustainable circular economy for battery metals, using
cutting-edge technology to recycle, recover, and re-use battery
technologies for a renewable energy future. Technology Minerals is
focused on extracting raw materials required for Li-ion batteries,
whilst solving the ecological issue of spent Li-ion batteries, by
recycling them for re-use by battery manufacturers. As with the
increasing global demand for battery metals to supply
electrification increases, the group will explore, mine, and
recycle metals from spent batteries. Further information on
Technology Minerals is available at
www.technologyminerals.co.uk
Recyclus Group Ltd
The demand for the raw materials used in battery manufacturing
is anticipated to increase substantially. Recyclus Group provides a
national recycling initiative that supports the transition to
carbon neutrality. Recyclus Group's battery recycling capacity will
prove essential in the shift from fossil fuels to electric
transportation. Through its strategic support from Technology
Minerals, Recyclus is an integral component to the recycling of
lithium-ion and lead-acid batteries and is a significant
contributor towards the circular economy of battery metals. Further
information on Recyclus Group is available at
www.recyclusgroup.com
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