TM1 Technology Minerals Plc

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18 March 2024

Technology Minerals Plc 

("Technology Minerals" or the "Company") 

Recyclus to recycle lithium-ion batteries from e-bike and e-scooter operator Beryl

Technology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, is pleased to announce that its 48.35% owned battery recycling business, Recyclus Group Ltd ("Recyclus"), has signed an agreement with UK-based shared sustainable transport operator, Beryl, to recycle waste lithium-ion ("Li-ion") batteries from its fleet of e-bikes and e-scooters.

Beryl will send its Li-ion battery waste to Recyclus' Wolverhampton facility for processing and recycling. Recyclus' cutting-edge plant is the first and only industrial scale Li-ion battery recycling plant in the UK, equipped to resolve the challenges created by increasing volumes of Li-ion battery waste generated as the world shifts towards electrification.

The agreement provides Beryl with a solution for recycling the Li-ion e-bike and e-scooter batteries needed to decarbonise urban travel, and forms part of its strategy to develop accredited recycling partnerships with firms specialising in hard-to-recycle waste such as Li-ion batteries. Recyclus will receive gate fees for receiving the Li-ion batteries, as well as any sales of black mass and other recoverable materials produced from the recycling process.

Beryl operates 19 shared transport schemes with some of the UK's leading transport authorities. From e-scooters in Birmingham to e-bikes in Leeds and e-cargo bikes in Westminster, Beryl is helping to decarbonise urban transport systems across the country. Since launching its first scheme in 2019 to December 2023, Beryl has generated nearly 4.8 million journeys, over nearly 15 million kilometres, saving more than 620 tonnes of CO2 emissions, according to industry calculations.

Robin Brundle, Chairman of Technology Minerals and Director of Recyclus, said: "We are excited to be working with Beryl, a leading micromobility specialist with a network and infrastructure that expands across the country.  With the e-bike market continuing to grow year on year, there is a growing demand for the safe disposal and recycling of Li-ion batteries. This agreement with Beryl is a testament to the strength of our solution as the first industrial scale, lithium-ion battery waste recycler in the UK."

Beryl ESG and Sustainability Manager, Sophie Noakes, said: "As a B-Corp certified company, we work hard to ensure sustainability is at the core of our daily operations. It's important that we practise what we preach and operate as a carbon neutral organisation, first reducing and as a last resort offsetting our carbon emissions through projects and initiatives such as this.

"We are immensely pleased to partner with Recyclus, who provide a safe and effective solution for the disposal of end-of-life e-bike and e-scooter batteries in the UK. Our mission is to reduce carbon emissions by promoting electrified technologies, and we are thrilled to work with an industry expert enabling the shift to electrification."

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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.

About Beryl

Beryl are a UK-based shared sustainable transport operator, championing greener travel options to help reduce road congestion and improve air quality and public health. They have delivered affordable bike, e-bike, e-cargo bike and e-scooter schemes in locations around the country; including London, Norwich, Watford, Hereford, Bournemouth, the Isle of Wight, Greater Manchester, Solent, Cornwall, Brighton, Plymouth, Birmingham and Leeds. As a B-Corp certified operator, they deliver schemes in partnership with cities and communities, placing people, social responsibility and environmental sustainability at the same level as financial sustainability. They also provide technology for London's Santander Bikes scheme and the West Midlands Cycle Hire scheme. For more information, visit www.beryl.cc