REG - Technology Minerals - Awarded £50k by Clean Futures Accelerator

Technology MineralsAnnouncement

04/09/2024 07:00

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RNS Number : 7859C  Technology Minerals PLC  04 September 2024

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

 Alex Stanbury, Chief Executive Officer

 Oberon Investments Limited (Broker)
 Nick Lovering, Adam Pollock                +44 (0)20 3179 0500

 Gracechurch Group (Financial PR)
 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. 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 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/ (https://www.recyclusgroup.com/) .

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