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 (Withdrawal) Act 2018. The
information is disclosed in accordance with the Company's
obligations under Article 17 of the UK MAR. Upon the publication of
this announcement, this inside information is now considered to be
in the public domain.
4 September 2024
Technology Minerals
Plc
("Technology Minerals" or the
"Company")
Awarded £50k by Clean Futures
Accelerator Programme
Technology Minerals Plc (LSE: TM1),
the UK's pioneering firm in establishing a circular economy for
battery metals, is pleased to announce that its 48.35% owned
battery recycling business, Recyclus Group Ltd ("Recyclus"),
has been awarded £50,000 in funding by Clean Futures Accelerator
Programme, headed by Catapult Connected Places, the UK's innovation
accelerator for cities, transport, and place leadership. In
alignment with this initiative, Recyclus
will be matching the grant with an additional £50k.
The funding will allow the company
to continue to develop a groundbreaking recycling process for
lithium thionyl chloride ("LTC") batteries. These batteries are
commonly used in devices that require long life spans, including
fire alarms, smart meters and a wide range of industrial
applications. Currently, there is no established method of
recycling LTC batteries in Europe, and while some are exported,
many remain discarded in the UK, posing a growing environmental
risk due to harmful chemicals found in the batteries.
Recyclus' industrial-scale
Lithium-ion ("Li-ion") recycling facility, the first of its kind in
the UK, aims to establish a safe and effective process to recycle
LTC batteries, ensuring that the recovered lithium is reintroduced
into the supply chain.
In addition, on 29 August, Recyclus
set a record throughput for processing Li-ion batteries under 4kg
in a single shift at its Wolverhampton Li-ion recycling facility,
successfully shredding 7.2 tonnes of batteries. This milestone
included a range of small batteries sourced from handheld devices
that had been obtained through strategic partnerships by the
company. E-Bike, automotive and traction batteries were not being
processed during this period. This record underscores Recyclus'
commitment to advancing sustainable Li-ion recycling in the
transition to electrification and the growing commercial traction
of its recycling solutions.
Robin Brundle, Chairman of
Technology Minerals and Director of Recyclus, said: "We
would like to extend our thanks to Catapult Connected Places for
their confidence in our vision and mission to constantly improve
the effectiveness of our recycling technologies.
"Our recent achievement of setting a
new processing record at our Li-ion recycling facility highlights
our ability to progressively ramp-up our recycling process,
providing a key sustainable solution within the recycling industry
to the issue of discarded Li-ion batteries. This funding will allow
us to continue driving innovation and advancing a more sustainable
future across all industrial sectors in the shift to
electrification."
Anwar Sattar, Scientific Director at Recyclus,
commented: "This is a tremendous
opportunity for both Recyclus and the UK. LTC batteries contain up
to 5% lithium by mass, and recycling this material strengthens our
national resource security. Recycling just one tonne of LTC
batteries can produce enough lithium to power seven large electric
vehicles."
Enquiries
Technology Minerals Plc
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Robin Brundle, Executive
Chairman
Alex Stanbury, Chief Executive
Officer
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c/o +44 (0)20 4582 3500
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Oberon Investments Limited (Broker)
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Nick Lovering, Adam
Pollock
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+44 (0)20 3179 0500
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Gracechurch Group (Financial PR)
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Harry Chathli, Alexis Gore, Rebecca
Scott
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+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.
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 lithium-ion and lead acid batteries
and is a significant contributor towards the circular economy for
battery metals. Further information on Recyclus Group is available
at https://www.recyclusgroup.com/.