Technology Minerals PLC Recyclus Li-ion Recycling Plant Update (9040T)
20 November 2023 - 6:00PM
UK Regulatory
TIDMTM1
RNS Number : 9040T
Technology Minerals PLC
20 November 2023
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20 November 2023
Technology Minerals Plc
("Technology Minerals" or the "Company")
Update on Wolverhampton Lithium Battery Recycling
Production Achieving up to 45% Recycling Rate for Black Mass
Technology Minerals Plc (LSE: TM1), the UK's pioneering firm in
establishing a circular economy for battery metals, is excited to
share progress updates from its 48.35% subsidiary, Recyclus Group
Ltd. Recyclus operates one of the first industrial-scale
lithium-ion (Li-ion) battery recycling plants in the UK, located in
Wolverhampton.
Recent achievements at the Wolverhampton plant include :
-- The accumulation of 100 tonnes of feedstock, the maximum
allowed under the Environmental Agency permit.
-- A significant rise in recycling production, reaching up to 45% net black mass yield.
This black mass, a key component in battery manufacturing,
contains essential metals like lithium, manganese, nickel, and
cobalt. The Wolverhampton facility not only recovers these valuable
metals but also segregates and prepares other materials such as
copper, aluminium, and plastics for resale. With the market rate
for black mass exceeding GBP3,500 per tonne, this process marks a
notable stride in battery recycling efficiency.
The Wolverhampton plant continues to see a steady influx of
Li-ion battery waste from various commercial sources. Recyclus'
commercial team is actively engaging with numerous UK organizations
to streamline battery recycling, leveraging their robust logistics
network for efficient collection and processing.
On the funding front, Technology Minerals remains
well-positioned to support ongoing operations with convertible loan
facilities for additional working capital as needed. Furthermore,
Recyclus has access to GBP525,000 under a GBP1 million loan
facility from a company shareholder.
Robin Brundle, Director and Co-Founder of Recyclus Group ,
commented : " Our Wolverhampton plant is successfully ramping up
production of high-quality, high-rate black mass, crucial for the
battery sector. This achievement underscores the effectiveness of
our technical solutions and the expertise of our on-site engineers,
emphasizing our commitment to sustainable battery metal
recovery."
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,
sustainable circular economy for battery metals, using cutting-edge
technology to recycle, recover, and re-use battery technologies for
a renewable energy future. The Company currently holds 48. 35% of
the issued share capital of Recyclus Group Ltd, the UK's first
industrial-scale recycler of both lithium-ion and lead
batteries.
Technology Minerals is focused on raw material exploration
required for Li-ion batteries, whilst solving the ecological issue
of spent Li-ion batteries, by recycling them for re-use by battery
manufacturers. 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
Li-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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