REG - Technology Minerals - Proposed Acquisition Update & New Recyclus Unit

Technology MineralsAnnouncement

04/07/2024 07:00

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RNS Number : 0666V  Technology Minerals PLC  04 July 2024

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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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now considered to be in the public domain.

4 July 2024

 

Technology Minerals Plc

 

("Technology Minerals" or the "Company")

 

Update on Proposed Acquisition

 

Recyclus sets up Discharge and Dismantle Unit for Li-ion Batteries

 

Technology Minerals Plc (LSE: TM1), the UK's pioneering firm in establishing a
circular economy for battery metals, provides the following update regarding
the acquisition of its 48.35% owned battery recycling business, Recyclus Group
Ltd ("Recyclus"). The Company is pleased to announce that Recyclus has
commenced setting up a Discharge and Dismantle Unit ("the Unit") for
lithium-ion ("Li-ion") batteries, making it the UK's first full service for
collection-to-black mass on an industrial scale.

 

Update on acquisition of remaining issued capital of Recyclus (the "Proposed
Acquisition")

 

Further to the update given at the Company's interim results announcement on
27 March 2024, the transaction to acquire the remaining issued share capital
of Recyclus is progressing with further interactions with the FCA. Technology
Minerals had targeted posting the prospectus for shareholder approval by the
end of June 2024, but the process has taken longer than anticipated as the
Company continues to work through the process and respond to questions put to
it by the FCA. Further iterations of the prospectus have been submitted for
consideration and the Company will update the market on progress in due
course.

 

Discharge and Dismantle Unit for Li-Ion batteries

 

Recyclus is pleased to announce that it has commenced setting up a new
Discharge and Dismantle Unit for Li-ion batteries at its Wolverhampton site.
 This newly established Unit will provide material cost benefits and enhanced
productivity by enabling the discharge and dissemble of EV batteries on-site
before processing, offering a complete solution to automotive OEMs and major
industry partners, without the requirement for third-party processing. This is
a significant step in Recyclus becoming the UK's first full-service
collection-to-black mass separation on an industrial scale.

 

Li-ion sector specialist Imran Ghoni, CMgr has been appointed to lead the
Unit. Imran brings a wealth of experience from within the Li-ion sector, with
a speciality in Li-ion traction batteries. He joins Recyclus with extensive
and specialist experience within the battery space, working with various
research, recycling, and manufacturing organisations as a Battery Test
Engineer and Engineering Manager.

 

Commenting on his appointment, Imran Ghoni, CMgr stated: "I am delighted to
join Recyclus, where I aim to leverage my expertise and knowledge of battery
technologies for the benefit of the new Unit we are setting up. I aim to
establish methodologies for Li-ion battery examinations, computational
modelling, test streamlining, battery construction and deconstruction, the
safe handling of electric vehicle batteries, and the meticulous evaluation of
components for prompt reintegration, repurposing, or sustainable recycling. I
am looking forward to working with my colleagues at Recyclus."

 

Robin Brundle, Chairman of Technology Minerals and Director of Recyclus, said:
"We are pleased to have Imran join us at Recyclus, and look forward to working
with him. The spent Li-ion batteries from EV's can be processed faster when
any remaining electrical energy has been removed. The new Unit will set up
procedures and methodologies to ensure the safe discharge and disassemble
before being processed at our Wolverhampton plant.  It will give us the
ability to offer our clients material cost benefits. This also takes us one
step closer to delivering our vison of on-site energy storage and reuse within
our site."

 

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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