REG - Technology Minerals - Agreement to recycle Beryl e-bike LIBs

Technology MineralsAnnouncement

18/03/2024 07:00

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RNS Number : 1428H  Technology Minerals PLC  18 March 2024

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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."

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, Anysia Virdi      +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/) .

 

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

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