RCS - Technology Minerals - Recycles signs MoU for black mass refining

Technology MineralsAnnouncement

21/03/2024 07:00

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RNS Number : 6955H  Technology Minerals PLC  21 March 2024

 

21 March 2024

 

Technology Minerals Plc

("Technology Minerals" or the "Company")

 

Recyclus signs an MoU with a cleantech company for black mass refining
technology

 

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 a Memorandum of Understanding ("MoU") with a cleantech
company who has developed a world-leading low carbon technology capable of
processing black mass, recovering critical raw materials from Lithium-ion
("Li-ion") batteries.

 

The partnership will involve the already established processing of Li-ion
batteries ("LIBs") into black mass by Recyclus, which can then be further
refined, through an innovative, low-carbon and scalable chemistry-based
technology, into precursor cathode active materials adaptable for any LIB
manufacturer. After two years of assessing the emerging technologies available
in black mass refining, Recyclus decided on this collaboration as the process
is significantly more advanced that existing hydromet processes, and in turn
will result in higher grade material recovery. The new process will be
embedded into Recyclus' business model aligned with UK feedstock availability
as volumes continue to increase.

 

Subject to final agreement, the collaboration is estimated to be operational
within the next 18 months and will strengthen Recyclus' position in
establishing a circular economy to provide a stable and secure supply of key
battery metals in the UK.

 

Recyclus' industrial scale Li-ion recycling plant in Wolverhampton, the first
of its kind in the UK, produces black mass which contains critical battery
metals that can be reprocessed and sold back into the battery manufacturing
supply chain. The facility is building production volumes and is permitted to
process up to 22,000 tonnes of batteries per year with the aim to process
8,300 in its first full year of production on a single shift.

 

Anwar Sattar, Scientific Director of Recyclus, said: "Recyclus has continued
to strengthen the UK's supply security of key battery metals through the
deployment of its state-of-the-art recycling plant in Wolverhampton. This MoU
with an innovative cleantech company has the potential to revolutionise how
critical metals are extracted from spent Li-ion batteries in the UK, providing
a new source for minerals essential in the race towards electrification. It
will only further strengthen Recyclus' position as a pioneer in this field and
while providing additional scientific advancements toward the establishment of
a circular economy within the UK."

 

Robin Brundle, Director and Co-Founder of Recyclus, commented: "Establishing a
cradle-to-cradle solution through the recycling and refining of recycled
materials is a critical pathway   to support the UK's electrification
transition. It also  supports the UK's need to establish a stable and secure
supply of key battery metals. This collaboration aligns with the Government's
goal of minimising the UK's carbon footprint whilst potentially supplying up
to 30% of the raw materials for future UK battery manufacturers."

 

Enquiries

 

 Technology Minerals Plc
 Robin Brundle, Executive Chairman             c/o +44 (0)20 4582 3500

 Alexander Stanbury, Chief Executive Officer

 Oberon Investments Limited
 Nick Lovering, Adam Pollock                   +44 (0)20 3179 0535

 Gracechurch Group
 Harry Chathli, Alexis Gore, Rebecca Scott     +44 (0)20 4582 3500

 

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
(http://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 (http://www.recyclusgroup.com/) .

 

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