REG - Technology Minerals - First Shipment of Black Mass delivered to Europe

Technology MineralsAnnouncement

25/03/2025 07:00

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RNS Number : 9582B  Technology Minerals PLC  25 March 2025

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
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25 March 2025

 

Technology Minerals Plc

 

("Technology Minerals" or the "Company")

 

First Shipment of Black Mass delivered to Europe

 

Commenced delivery of more than 100 tonnes of black mass to Europe under
offtake agreement with Glencore plc

 

Technology Minerals Plc (LSE: TM1), the UK's pioneering firm in establishing a
circular economy for battery metals, is pleased to announce that following its
announcement on the 24 February 2024, its 48.35% owned battery recycling
business, Recyclus Group Ltd ("Recyclus"), has commenced delivery of its
first shipment of black mass to Europe, under its offtake agreement with
Glencore plc ("Glencore").

 

An initial 111 tonnes of black mass will be delivered in six equal shipments,
with the first already collected. The remaining five shipments will be
collected by the first week of April 2025. In addition, the company has agreed
to deliver a minimum of 20 tonnes of black mass per month on an ongoing basis.

 

This first shipment is a significant milestone for Recyclus, as it represents
the company's capability of consistently and safely producing black mass,
positioning itself to be a frontrunner in meeting the global demand for
critical metals with efficiency and reliability.

 

The black mass is produced at Recyclus' industrial scale lithium-ion battery
recycling facility and contains critical metals such as lithium, manganese,
nickel, and cobalt. These valuable metals can be reprocessed and reintegrated
into the battery supply chain, supporting the international push towards
electrification.

 

Robin Brundle, Chairman of Technology Minerals and Director of Recyclus, said:
"To begin delivery of our first black mass order to Europe under our agreement
with Glencore is a proud moment for Recyclus. We continue to position
ourselves as a leader in the black mass sector, addressing a critical and
growing demand for lithium-ion battery recycling driven by the shift towards
electrification. This agreement is a testament to the strength of Recyclus'
offering, and we look forward to further developing our relationship with
Glencore."

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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