REG - Technology Minerals - Loan Agreement with Close Brothers

Technology MineralsAnnouncement

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RNS Number : 7309T  Technology Minerals PLC  04 August 2025

4 August 2025

 

Technology Minerals Plc

 

("Technology Minerals" or the "Company")

 

Loan Agreement with Close Brothers

 

Technology Minerals Plc (LSE: TM1), the UK's pioneering firm in establishing a
circular economy for battery metals, announces that Recyclus Group Ltd
("Recyclus"), its 48.35% owned battery recycling business, has entered into a
£1.1 million loan agreement (the "Loan") with Close Brothers Group plc
("Close Brothers").

 

The agreement marks a significant milestone in Recyclus' growth journey,
representing a strong vote of confidence in the company's business model and
future potential. The funding will directly support the ongoing development
and progression of the Wolverhampton plant, enabling Recyclus to scale
production more rapidly.

 

This strategic investment is expected to enhance the plant's profitability,
productivity, and operational efficiency, while also strengthening Recyclus'
revenue streams as it continues to commercialise its innovative recycling
technology. The asset-backed loan is for a term of five years.

 

Robin Brundle, Executive Chairman of Technology Minerals and Recyclus Group
and Co-Founder of Recyclus Group, said: "We are pleased to have secured debt
financing from Close Brothers, partnering with a leading financial institution
to access non-dilutive capital in support of our growth strategy. Close
Brothers has been impressed with our long-term vision, including plans to
develop multiple facilities to meet the growing demand for lithium-ion battery
recycling. As we scale our operations, Close Brothers has expressed an
interest in deepening the relationship, further strengthening our position
with the support of a financial partner that shares our confidence in the
business and its future growth."

 

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

 

Since July 2023, Recyclus Group has operated a national, industrial-scale
lithium-ion battery recycling service that supports the UK's transition to
carbon neutrality. The Group's commitment to cradle-to-cradle battery
recycling reduces reliance on the extraction of virgin materials, promotes a
circular economy for these metals within the UK, supports the advancement of
next-generation recycling technologies, and aligns with the UK's resilience
and critical minerals strategy.

 

With strategic backing from Technology Minerals, Recyclus plays a central role
in lithium-ion battery recycling and contributes significantly to the circular
economy for battery metals.

 

Further information on Recyclus Group is available
at https://www.recyclusgroup.com/ (https://www.recyclusgroup.com/)

 

About Close Brothers

 

Close Brothers is a leading UK merchant banking group providing lending,
deposit taking and securities trading. Close Brothers employs approximately
3,000 people, principally in the United Kingdom and Ireland. Close Brothers
Group plc is listed on the London Stock Exchange and is a constituent of the
FTSE 250.

 

 

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