REG - Technology Minerals - Partnership with Slicker Recycling
24/11/2021 08:00
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RNS Number : 3436T Technology Minerals PLC 24 November 2021
24 November 2021
Technology Minerals Plc
("Technology Minerals" or the "Company")
Technology Minerals and Slicker Recycling Partner to Revolutionise UK Battery
Recycling
National initiative launched to support Technology Minerals' aim of creating a
circular economy for the UK battery market
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 Recyclus Group, a 49% Technology Minerals owned company, has
signed a partnership agreement with Slicker Recycling Limited ("Slicker
Recycling"), one of the UK's leading hazardous waste management and service
delivery providers, with a view to further their visions of creating a
circular economy for the UK battery market.
The agreement between Recyclus Group and Slicker Recycling (the "Partnership")
launches a national initiative with the aim of improving the UK capability for
battery recycling from dangerous, small-scale manual operations to recycling
safely and sustainably on an industrial scale - which the Company believes is
a necessary development for the UK to reach its climate targets.
Slicker Recycling, which has 13 depots nationwide and executes more than
25,000 collections per annum, will collect battery waste from around the UK
and safely transport it to the closest Recyclus Group Ltd ("Recyclus") plant.
Recyclus is a battery-recycling business with innovative technology that can
safely salvage key materials from spent batteries to produce black mass
(consisting of cobalt, nickel, lithium, and manganese). These recycled raw
materials can then be subsequently fed back into the market for re-use and
resale. Recyclus will also test the safety of the batteries to determine
whether they should be re-used or repurposed. Recyclus believes this
partnership alone could deliver up to 40% of the lead-acid battery capacity,
and up to 90% of its Li-ion capacity once the two plants are commissioned in
Q1 2022.
The Partnership is expected to be a driver in Technology Minerals' growth
strategy and aim to increase its recycling capacity in 2022 for lead-acid
batteries to 16,000 tonnes per annum and 5,000 tonnes per annum for
lithium-ion ("Li-ion") batteries.
Alex Stanbury, Chief Executive Officer of Technology Minerals, said: "We are
delighted to launch this national initiative for battery recycling in the UK
and partner with Slicker Recycling, one of the UK's largest waste collectors.
The Partnership will help ramp up our recycling capacity for both lead-acid
and Li-ion batteries and builds on our strategy and goal to help tackle the
critical upcoming supply shortages of the key minerals being used to drive the
global transition to electric vehicles.
"Technology Minerals and Slicker Recycling recognise the market need for an
integrated, strategic waste management partnership, and this end-to-end
logistical solution furthers both our interests in addressing the UK's battery
waste crisis. It is vital that companies work together to expand homegrown
waste management solutions if the UK is to achieve its 2050 net-zero target."
Mark Olpin, Managing Director of Slicker Recycling, said: "Diversifying into
new and innovative markets is a key part of our growth plans and our link-up
with Technology Minerals is a vital partnership to kick-start an effective,
circular economy solution for the UK's growing battery market.
"The raw materials extracted from the used batteries collected as part of
this partnership will go back into industry as part of a closed loop
solution. This is especially welcome at a time when electric car
production and ownership is at its highest ever level, with that trend set to
continue on a steep curve, therefore needing sustainable solutions to keep it
moving and growing.
"We have strong credentials in the automotive sector so this partnership is
the perfect fit at a time when both our organisations are firmly focused on
the circular economy and how we preserve finite resources.
"Overall, we are delighted to be at the forefront of this forward-thinking
partnership which is an example of how companies can join up their expertise
for the good of the planet."
Enquiries
Technology Minerals Limited
Robin Brundle, Executive Chairman +44 20 7618 9100
Alexander Stanbury, Chief Executive Officer
Slicker Recycling
Mark Olpin, Managing Director + 44330 159 8325
Laura Carter, Commercial Director
Alfred Henry Corporate Finance Limited
Nick Michaels +44 203 772 0021
Arden Partners Plc
Ruari McGirr +44 207 614 5900
Luther Pendragon
Harry Chathli, Alexis Gore, John Bick +44 20 7618 9100
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. TM 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. With the increasing global demand for battery metals to
supply electrification, the Group will explore, mine, and recycle metals from
spent batteries. Further information on Technology Minerals is available at
www.technologyminerals.co.uk (http://www.technologyminerals.co.uk)
Recyclus Group Ltd
The demand for the raw materials used in battery manufacturing is anticipated
to substantially increase. Recyclus Group Limited 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,
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 (http://www.recyclusgroup.com)
Slicker Recycling
With depots across the UK, Slicker Recycling specialises in the national
collection and recycling of hazardous lubricating oils which have been
previously used in motor vehicles and machinery. Aside from hazardous and
non-hazardous waste collections, Slicker also provides interceptor and
drainage services, tank cleaning and decommissioning, and chemical waste
removal. Slicker employs almost 200 people and in July 2020, launched a £70
million base oil re-refinery in Denmark as part of a joint venture with its
German partner, Avista AG. Further information on Slicker Recycling at
www.slickerrecycling.com (http://www.slickerrecycling.com)
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